Detached Triplex with Private
New
For Sale
$819,000
1987 Troy Avenue, Brooklyn, NY 11234
Residential, Triplex, Brooklyn, NY
Property Size1,415 SF
Lot Size0.06 Acres
Price / SF$578.80
Days on Market1
Property Features for 1987 Troy Avenue
General Information
Property type
Residential
Property subtype
Triplex
Zoning
R4
Bedrooms
4
Bathrooms
4
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Patio and Porch features
Deck, Porch
Interior features
A/C Unit - Wall, Deck, Dryer, Laundry Area, Microwave, Porch, Refrigerator, Stove, Terrace, Washer
Basement
Finished, Full
Subdivision
Flatlands
Standard status
Active
Size
1,415 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6700
Amenities
washer and dryer
Building Details
Year built
1920
Flooring type
Tile, Hardwood, Laminate
Architectural style
Other
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Aaron J. Eagle · License #10301221282
(718) 763-4110
Added: Aug 28
Last Checked: Aug 28 at 8:06PM
MLS# 504119
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 1920 triplex property at 1987 Troy Avenue includes 1415 square feet on a 0.0551-acre lot. The home has four bedrooms and four bathrooms, along with living and dining areas, a kitchen, laundry equipment, and a private one-car parking space. A basement and attic provide additional rooms and storage, with a 3/4 bathroom in each area. Interior finishes include tile, hardwood, and laminate flooring, while the property also offers a deck, porch, terrace, refrigerator, stove, microwave, dryer, washer, and wall A/C unit.
The property is located in Brooklyn, NY 11234, near shopping, transportation, houses of worship, and schools. R4 zoning applies. The home requires TLC and includes a yard for outdoor use.
The property is located in Brooklyn, NY 11234, near shopping, transportation, houses of worship, and schools. R4 zoning applies. The home requires TLC and includes a yard for outdoor use.
Key Highlights
- Triplex property with 4 bedrooms and 4 bathrooms
- 1415 square feet on a 0.0551‑acre lot
- R4 zoning at 1987 Troy Avenue, Brooklyn, NY 11234
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
$49,556
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
6.05%
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%
$991,120
$991.1K
Cap Rate 7%
$707,943
$707.9K
Cap Rate 9%
$550,622
$550.6K
Market Conditions
NOI Build-Up for 1,415 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
$72.2K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.8K $50.03/SF
− OpEx
−$21.2K −$15.01/SF
NOI
$49.6K $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%
$991,120
Cap Rate 7%
$707,943
Cap Rate 9%
$550,622
Alternative Uses
Best Use
Multifamily LT 5
$707.9K
$619.5K – $825.9K
NOI $49,556 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$617.1K
$540.0K – $720.0K
NOI $43,198 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,013 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,304
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
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?
Triplex - R4-zoned triplex with four bedrooms, four bathrooms, flexible lower-level space, and outdoor areas.
Where is this triplex located?
The property is located at 1987 Troy Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Triplex property with 4 bedrooms and 4 bathrooms; 1415 square feet on a 0.0551‑acre lot; R4 zoning at 1987 Troy Avenue, Brooklyn, NY 11234
