Two-Family Townhouse with
For Sale
$2,850,000
197 Madison Street, Brooklyn, NY 11216
Owner’s triplex includes a separate garden apartment, private outdoor areas, and central air conditioning.
Property Size3,510 SF
Price / SF$811.97
Days on Market359
Property Features for 197 Madison Street
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$8,964
Building Details
Building Size
3,510 SF
Year Built
1899
Listing Agency:
Compass
Listed By:
Mariko A Decouto
(646) 300-1630
Source:
Carlinwright
Added: Oct 2, 2025
Changed: Sep 23
Last Checked: Sep 24 at 4:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This 3,510-square-foot, four-story townhouse was built in 1899 and configured for two households. The owner’s triplex includes oak flooring, central air conditioning, a finished basement with recreational and storage areas, laundry facilities, and an open parlor-level layout extending to an oversized deck. Its upper levels provide three bedrooms, including a primary suite with a walk-in closet, sitting area, skylights, and five-piece bathroom.
A self-contained garden apartment adds one bedroom, one bathroom, an open living area, double closets, garden views, and an in-unit washer-dryer. The property also includes a rear garden and a kitchen equipped with Wolf and Sub-Zero appliances.
The home is near dining and shopping along Bedford and Nostrand Avenues, Tompkins Avenue, Herbert Von King Park, and the A, C, and G trains.
A self-contained garden apartment adds one bedroom, one bathroom, an open living area, double closets, garden views, and an in-unit washer-dryer. The property also includes a rear garden and a kitchen equipped with Wolf and Sub-Zero appliances.
The home is near dining and shopping along Bedford and Nostrand Avenues, Tompkins Avenue, Herbert Von King Park, and the A, C, and G trains.
Key Highlights
- 3,510‑square‑foot, four‑story two‑family townhouse built in 1899
- Owner’s triplex with three bedrooms, including a skylit primary suite
- Separate one‑bedroom, one‑bath garden apartment with in‑unit washer‑dryer
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
$122,926
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
4.31%
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%
$2,458,520
$2.5M
Cap Rate 7%
$1,756,086
$1.8M
Cap Rate 9%
$1,365,844
$1.4M
Market Conditions
NOI Build-Up for 3,510 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
$179.0K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$175.6K $50.03/SF
− OpEx
−$52.7K −$15.01/SF
NOI
$122.9K $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%
$2,458,520
Cap Rate 7%
$1,756,086
Cap Rate 9%
$1,365,844
Alternative Uses
Best Use
Multifamily LT 5
$1.76M
$1.54M – $2.05M
NOI $122,926 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.79M
NOI $107,157 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$2.91M
$2.54M – $3.39M
NOI $203,440 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,908
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Owner’s triplex includes a separate garden apartment, private outdoor areas, and central air conditioning.
Where is this duplex located?
The property is located at 197 Madison Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 3,510‑square‑foot, four‑story two‑family townhouse built in 1899; Owner’s triplex with three bedrooms, including a skylit primary suite; Separate one‑bedroom, one‑bath garden apartment with in‑unit washer‑dryer
