Two-Family Duplex with Unfinished
For Sale
$849,000
2214 Coleman Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size1,776 SF
Lot Size0.04 Acres
Price / SF$478.04
Days on Market48
Property Features for 2214 Coleman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4,C2-2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Interior features
Refrigerator, Stove, Window Treatments
Basement
Full, Unfinished
Subdivision
Marine Park
Standard status
Active
Size
1,776 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6162
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Building materials
Wood Frame
Roof type
Flat
Architectural style
Ranch
Listing Agency:
Bergen Basin Realty LLC
(718) 787-4110
Listed By:
Lee S Wasserman
(718) 763-4110
Added: Jul 17
Changed: Aug 9
Last Checked: Sep 2 at 8:06AM
MLS# 502717
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 two-family duplex at 2214 Coleman Street offers two separate one-bedroom, one-bath homes with a large unfinished basement for storage or future buildout. The top floor features a bright one bedroom and one bath. The first floor offers an oversized updated one bedroom and one bath with European tile, plus an open-concept layout.
The property is built with wood frame construction in a ranch architectural style and has a flat roof. Updated mechanicals are noted, and the unfinished basement connects into the home, making it well-suited for storage today or potential finishing later.
Zoning is listed as R4 and C2-2. The first-floor space is described as flexible for either commercial/professional use or residential use in line with the C2-2 zoning referenced in the offering. The lot size is 0.0366 acres and the property size is 1,776 square feet. Built in 1925.
The property is built with wood frame construction in a ranch architectural style and has a flat roof. Updated mechanicals are noted, and the unfinished basement connects into the home, making it well-suited for storage today or potential finishing later.
Zoning is listed as R4 and C2-2. The first-floor space is described as flexible for either commercial/professional use or residential use in line with the C2-2 zoning referenced in the offering. The lot size is 0.0366 acres and the property size is 1,776 square feet. Built in 1925.
Key Highlights
- Zoned R4, C2‑2, with first floor described as flexible for commercial/professional or residential use
- Unfinished basement ideal for storage or can be finished
- Two one‑bedroom, one‑bath units: top floor and oversized updated first floor
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
$62,199
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
7.33%
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%
$1,243,980
$1.2M
Cap Rate 7%
$888,557
$888.6K
Cap Rate 9%
$691,100
$691.1K
Market Conditions
NOI Build-Up for 1,776 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
$90.6K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$88.9K $50.03/SF
− OpEx
−$26.7K −$15.01/SF
NOI
$62.2K $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%
$1,243,980
Cap Rate 7%
$888,557
Cap Rate 9%
$691,100
Alternative Uses
Best Use
Multifamily LT 5
$888.6K
$777.5K – $1.04M
NOI $62,199 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$774.6K
$677.7K – $903.7K
NOI $54,219 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $102,937 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,449
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex zoned R4, C2-2 with updated mechanicals and an unfinished basement.
Where is this duplex located?
The property is located at 2214 Coleman Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Zoned R4, C2‑2, with first floor described as flexible for commercial/professional or residential use; Unfinished basement ideal for storage or can be finished; Two one‑bedroom, one‑bath units: top floor and oversized updated first floor
