Triplex Home with Separate Second-Story
For Sale
$2,379,000
232 12th Street, Brooklyn, NY 11215
Residential, Triplex, Brooklyn, NY
Property Size2,550 SF
Lot Size0.04 Acres
Price / SF$932.94
Days on Market510
Property Features for 232 12th Street
General Information
Property type
Residential
Property subtype
Triplex
Zoning
R6B
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 2
Interior features
Refrigerator, Stove
Basement
Finished, Partial
Subdivision
Park Slope
Standard status
Active
Size
2,550 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4865
Building Details
Year built
1901
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Kevin Lam · License #KL3175
(718) 382-0005
Added: Apr 18, 2025
Changed: Sep 5
Last Checked: Sep 9 at 3:06AM
MLS# 490967
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.
232 12th Street in Brooklyn, NY 11215 is a triplex-style home with three full bathrooms and four bedrooms spread across multiple levels. The walk-in level includes a bright living room, dining area, modern kitchen, a skylight bedroom, a full bathroom with a walk-in shower, and a dedicated laundry room. The second floor has two bedrooms, a full modern bathroom, and a separate entrance for added privacy and flexibility. The third floor offers an oversized private bedroom with its own full modern bathroom.
The home was completely redone in 2006 with new plumbing, new electric, gas heating, and Andersen Energy Star windows throughout. The interior includes hardwood and tile flooring, and the basement has a high ceiling suited for additional storage. Built in 1901 with brick construction and a flat roof, the property also features a spacious rear yard with a storage shed.
Zoned R6B, the location provides convenient access to public transportation, with the F, R, and G trains two blocks away and multiple MTA bus lines nearby.
The home was completely redone in 2006 with new plumbing, new electric, gas heating, and Andersen Energy Star windows throughout. The interior includes hardwood and tile flooring, and the basement has a high ceiling suited for additional storage. Built in 1901 with brick construction and a flat roof, the property also features a spacious rear yard with a storage shed.
Zoned R6B, the location provides convenient access to public transportation, with the F, R, and G trains two blocks away and multiple MTA bus lines nearby.
Key Highlights
- Triplex‑style home with four bedrooms and three bathrooms
- Second‑floor living area has its own separate entrance
- Completely redone in 2006 with new plumbing, new electric, gas heating, and Andersen Energy Star windows
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
$77,849
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
3.27%
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%
$1,556,980
$1.6M
Cap Rate 7%
$1,112,129
$1.1M
Cap Rate 9%
$864,989
$865.0K
Market Conditions
NOI Build-Up for 2,550 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
$144.4K $56.64/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$141.5K $55.51/SF
− OpEx
−$63.7K −$24.98/SF
NOI
$77.8K $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%
$1,556,980
Cap Rate 7%
$1,112,129
Cap Rate 9%
$864,989
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.1K – $1.30M
NOI $77,849 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,798 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,699
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Triplex-style home with a second-floor unit that has a separate entrance, plus updated systems and three bathrooms.
Where is this single family property located?
The property is located at 232 12th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,379,000.
What are key features of this property?
This property features: Triplex‑style home with four bedrooms and three bathrooms; Second‑floor living area has its own separate entrance; Completely redone in 2006 with new plumbing, new electric, gas heating, and Andersen Energy Star windows
