Solid Brick 3-Family
For Sale
$980,000
2064 Coyle St, Brooklyn, NY 11229
Solid brick 3-family home with updated electric service, detached 2-car garage, and community driveway, fully vacant and ready for redesign.
Property Size2,040 SF
Days on Market60
Property Features for 2064 Coyle St
General Information
Standard status
Active
Size
2,040 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,147
Building Details
Building Size
2,040 SF
Year Built
1930
Stories
2
Listing Agency:
Calemine & Co. Real Estate, LL
(718) 998-1100
Listed By:
Louis J. Calemine
(718) 998-1100
Source:
Elliman
Added: Jun 15
Changed: Aug 7
Last Checked: Aug 13 at 11:12AM
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 Calemine & Co. Real Estate, LL
Investment Insights
Based on property information with market context.
Solid brick three-family home featuring a community driveway and a detached 2-car garage. The property is fully vacant and currently arranged as a 2-bedroom unit over a 1-bedroom apartment over a studio/1-bedroom apartment. Electric service has been recently updated, including four new meters and sub-panels. With some updating or remodeling, the current configuration can be refreshed to fit a new owner’s goals.
Located in Marine Park, the home is just minutes from the nearby Nature Preserve and the activities available there. It also remains close to shopping, dining, and public transportation options along the Avenue U shopping strip.
For an owner-occupant or investor looking for flexibility, this property offers multiple layout paths, including the option to rework it into a larger single-family residence or other multi-family configurations. The updated electrical components provide a stronger starting point for renovations, while the vacant condition allows straightforward access for planning and improvements.
Located in Marine Park, the home is just minutes from the nearby Nature Preserve and the activities available there. It also remains close to shopping, dining, and public transportation options along the Avenue U shopping strip.
For an owner-occupant or investor looking for flexibility, this property offers multiple layout paths, including the option to rework it into a larger single-family residence or other multi-family configurations. The updated electrical components provide a stronger starting point for renovations, while the vacant condition allows straightforward access for planning and improvements.
Key Highlights
- Solid brick 3‑family home (Year Built 1930) fully vacant and ready for redesign
- Recently updated electric service with 4 new meters and sub‑panels
- Current layout: 2‑bedroom unit over a 1‑bedroom apartment over a studio/1‑bedroom apartment
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
$71,444
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
7.29%
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%
$1,428,880
$1.4M
Cap Rate 7%
$1,020,629
$1.0M
Cap Rate 9%
$793,822
$793.8K
Market Conditions
NOI Build-Up for 2,040 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
$104.0K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$102.1K $50.03/SF
− OpEx
−$30.6K −$15.01/SF
NOI
$71.4K $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%
$1,428,880
Cap Rate 7%
$1,020,629
Cap Rate 9%
$793,822
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$893.1K – $1.19M
NOI $71,444 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$889.7K
$778.5K – $1.04M
NOI $62,279 @ 7.0% cap · market cap 6.35%
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,238 @ 7.0% cap · market cap 12.07%
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
1,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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 - Solid brick 3-family home with updated electric service, detached 2-car garage, and community driveway, fully vacant and ready for redesign.
Where is this triplex located?
The property is located at 2064 Coyle St Brooklyn, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Solid brick 3‑family home (Year Built 1930) fully vacant and ready for redesign; Recently updated electric service with 4 new meters and sub‑panels; Current layout: 2‑bedroom unit over a 1‑bedroom apartment over a studio/1‑bedroom apartment
