Five-Family Apartment Building with Rubber
For Sale
$1,800,000
2196 McDonald Avenue, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size5,063 SF
Lot Size0.16 Acres
Price / SF$355.52
Days on Market690
Property Features for 2196 McDonald Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4A, M1-1
Bedrooms
14
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 12, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 11, Bedroom 8, Bedroom 5, Bedroom 13, Bedroom 4, Bathroom 2, Bedroom 10, Bathroom 5, Bathroom 1, Bedroom 9, Bedroom 14, Bedroom 1, Bathroom 4
Interior features
Refrigerator, Stove
Basement
Full, Unfinished
Subdivision
Gravesend
Standard status
Active
Size
5,063 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
12408
Building Details
Year built
1920
Floors in Building
3
Number of units
5
Flooring type
Hardwood, Tile
Roof type
Rubber
Architectural style
Other
Listing Agency:
BHHS Fillmore R.E.
(718) 377-6161
Listed By:
Gus Ktistakis
(718) 368-2500
Added: Oct 9, 2024
Changed: Aug 3
Last Checked: Aug 29 at 7:06PM
MLS# 486644
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 five-family apartment building is offered as a package deal that includes 2194 McDonald Avenue. The property configuration is described as two buildings: a first building with a 3-family layout (4 bedrooms, 3 over 3) and a second building with a 2-over-2 setup (two bedrooms over two bedrooms). The site is described as measuring 45 x 75, and the property sits on a 0.155-acre lot. The building was constructed in 1920 and has a rubber roof.
Interiors include tile and hardwood flooring, with appliances listed such as a refrigerator and stove.
The property is described as being close to Avenue U, the F train, and the B3 bus, supporting tenant access and everyday commuting needs.
Interiors include tile and hardwood flooring, with appliances listed such as a refrigerator and stove.
The property is described as being close to Avenue U, the F train, and the B3 bus, supporting tenant access and everyday commuting needs.
Key Highlights
- Package deal includes 2194 McDonald Avenue
- First building: 3‑family, 4 bedrooms, 3 over 3; second building: 2 over 2
- Site measures 45 x 75
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
$154,568
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
8.59%
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%
$3,091,360
$3.1M
Cap Rate 7%
$2,208,114
$2.2M
Cap Rate 9%
$1,717,422
$1.7M
Market Conditions
NOI Build-Up for 5,063 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
$286.8K $56.64/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$281.0K $55.51/SF
− OpEx
−$126.5K −$24.98/SF
NOI
$154.6K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,091,360
Cap Rate 7%
$2,208,114
Cap Rate 9%
$1,717,422
Alternative Uses
Best Use
Multifamily LT 5
$2.53M
$2.22M – $2.96M
NOI $177,315 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,568 @ 7.0% cap · market cap 8.59%
Theoretical Best
Specialty Retail
$4.19M
$3.67M – $4.89M
NOI $293,451 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Zoned R4A and M1-1, built in 1920, and featuring a rubber roof.
Where is this apartment building located?
The property is located at 2196 McDonald Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Package deal includes 2194 McDonald Avenue; First building: 3‑family, 4 bedrooms, 3 over 3; second building: 2 over 2; Site measures 45 x 75
