Brick Duplex With Detached
For Sale
$1,069,000
1721 E 31st Street, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size1,890 SF
Lot Size0.05 Acres
Price / SF$565.61
Days on Market121
Property Features for 1721 E 31st Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2
Parking features
Garage - Detached
Interior features
Central Air - Split, Dishwasher, Dryer, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Marine Park
Standard status
Active
Size
1,890 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7505
Amenities
hardwood floors
split system air conditioning
bright modern lighting
granite counter tops
two kitchen sinks
modern cabinetry
custom built-in closets
relaxing outdoor back patio
detached garage
laundry
Building Details
Year built
1935
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Pride Estates
Listed By:
Danny D. Chung
(718) 569-2888
Added: May 13
Changed: Sep 5
Last Checked: Sep 10 at 5:06AM
MLS# 501384
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,890-square-foot brick duplex was built in 1935 and includes three bedrooms, two bathrooms, hardwood and tile flooring, and a finished basement with an additional bathroom area and laundry/heat room. The main living level features an open arrangement for living, dining, and kitchen functions, while the property also offers granite countertops, modern cabinetry, two kitchen sinks, built-in closets, and updated lighting. Split-system air conditioning, a sprinkler system, dishwasher, dryer, refrigerator, and stove are included. A private rear patio and detached garage add functional outdoor and parking space. The boiler is approximately 7 years old.
The property is located at 1721 E 31st Street in Brooklyn’s 11234 postal area. Shopping, schools, restaurants, places of worship, parks, and public transportation are identified nearby. The parcel measures 0.0459 acres and carries R3-2 zoning.
The property is located at 1721 E 31st Street in Brooklyn’s 11234 postal area. Shopping, schools, restaurants, places of worship, parks, and public transportation are identified nearby. The parcel measures 0.0459 acres and carries R3-2 zoning.
Key Highlights
- 1,890‑square‑foot brick duplex on a 0.0459‑acre parcel
- Three bedrooms and two bathrooms, including finished lower‑level space
- Detached garage and private rear patio
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,191
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,323,820
$1.3M
Cap Rate 7%
$945,586
$945.6K
Cap Rate 9%
$735,456
$735.5K
Market Conditions
NOI Build-Up for 1,890 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.4K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.6K $50.03/SF
− OpEx
−$28.4K −$15.01/SF
NOI
$66.2K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,323,820
Cap Rate 7%
$945,586
Cap Rate 9%
$735,456
Alternative Uses
Best Use
Multifamily LT 5
$945.6K
$827.4K – $1.10M
NOI $66,191 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$824.3K
$721.3K – $961.7K
NOI $57,700 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.83M
NOI $109,544 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Renovated brick residential property with finished lower-level space, private rear patio, and split-system air conditioning.
Where is this duplex located?
The property is located at 1721 E 31st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,069,000.
What are key features of this property?
This property features: 1,890‑square‑foot brick duplex on a 0.0459‑acre parcel; Three bedrooms and two bathrooms, including finished lower‑level space; Detached garage and private rear patio
