Six-Family Brick Apartment
For Sale
$1,150,000
2347 81st Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size1,820 SF
Lot Size0.06 Acres
Price / SF$631.87
Days on Market309
Property Features for 2347 81st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
r5
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 11, Bedroom 4, Bathroom 2, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 6, Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 9, Bedroom 7, Bedroom 10, Bedroom 8, Bedroom 12, Bedroom 3
Interior features
Refrigerator
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
1,820 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
21386
Amenities
courtyard
Building Details
Floors in Building
3
Number of units
6
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Robert S. Scaglione
(718) 612-3088
Added: Nov 12, 2025
Changed: Sep 16
Last Checked: Sep 17 at 7:06PM
MLS# 497310
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 six-family apartment property is a semi-detached brick building with six two-bedroom apartments and an unfinished basement. The structure measures 1,820 square feet on a 0.0604-acre lot and has a flat roof. A courtyard created by the semi-attached configuration provides an open area alongside the building, while refrigerators are listed among the interior features.
The property is located at 2347 81st Street in Brooklyn’s Bensonhurst section, near 81st Street and 24th Avenue. It is identified under R5 zoning. The roof is two years old, and the gas boiler was installed in 2008.
The property is located at 2347 81st Street in Brooklyn’s Bensonhurst section, near 81st Street and 24th Avenue. It is identified under R5 zoning. The roof is two years old, and the gas boiler was installed in 2008.
Key Highlights
- Six two‑bedroom apartments in a six‑family configuration
- Semi‑detached brick construction with courtyard
- 1,820 square feet on a 0.0604‑acre lot
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
$44,489
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
3.87%
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%
$889,780
$889.8K
Cap Rate 7%
$635,557
$635.6K
Cap Rate 9%
$494,322
$494.3K
Market Conditions
NOI Build-Up for 1,820 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
$84.1K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.9K $44.44/SF
− OpEx
−$36.4K −$20.00/SF
NOI
$44.5K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /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%
$889,780
Cap Rate 7%
$635,557
Cap Rate 9%
$494,322
Alternative Uses
Best Use
Apartment 5plus
$635.6K
$556.1K – $741.5K
NOI $44,489 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.0K – $1.24M
NOI $74,319 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Semi-detached design includes a courtyard and six two-bedroom apartments within a multifamily property.
Where is this apartment building located?
The property is located at 2347 81st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Six two‑bedroom apartments in a six‑family configuration; Semi‑detached brick construction with courtyard; 1,820 square feet on a 0.0604‑acre lot
