Detached Two-Family
For Sale
$2,475,000
2369 West Street, Brooklyn, NY 11223
Two separate residences provide private parking, a carport, and a substantial backyard.
Property Size3,288 SF
Lot Size0.09 Acres
Days on Market195
Property Features for 2369 West Street
General Information
Standard status
Active
Size
3,288 SF
Lot size
0.09 Acres
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
large backyard
Building Details
Building Size
3,288 SF
Buildings
1
Stories
2
Listing Agency:
Century 21 Mk Realty
Listed By:
Melanie M. Kishk
(718) 627-7390
Source:
Excellchoicerealty
Added: Feb 24
Changed: Aug 31
Last Checked: Aug 31 at 5:09PM
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 Century 21 Mk Realty
Investment Insights
Based on property information with market context.
This fully detached duplex contains two residences arranged with three bedrooms on each level. The layout provides separate living areas within a single two-family home, supporting owner occupancy, rental use, or multigenerational living. The property sits on a 40 × 100 lot and includes a private driveway, carport, and large backyard for outdoor use.
Located at 2369 West Street in Brooklyn, the home is near schools, parks, and houses of worship. These nearby neighborhood resources add convenience for residents while complementing the property's two-unit configuration and private outdoor space.
Located at 2369 West Street in Brooklyn, the home is near schools, parks, and houses of worship. These nearby neighborhood resources add convenience for residents while complementing the property's two-unit configuration and private outdoor space.
Key Highlights
- Two‑family detached home with 3 bedrooms over 3 bedrooms
- 40 × 100 lot
- Private driveway with carport
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
$115,151
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
4.65%
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%
$2,303,020
$2.3M
Cap Rate 7%
$1,645,014
$1.6M
Cap Rate 9%
$1,279,456
$1.3M
Market Conditions
NOI Build-Up for 3,288 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
$167.7K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$164.5K $50.03/SF
− OpEx
−$49.4K −$15.01/SF
NOI
$115.2K $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%
$2,303,020
Cap Rate 7%
$1,645,014
Cap Rate 9%
$1,279,456
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.92M
NOI $115,151 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,379 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.18M
NOI $190,572 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,563
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?
Duplex - Two separate residences provide private parking, a carport, and a substantial backyard.
Where is this duplex located?
The property is located at 2369 West Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Two‑family detached home with 3 bedrooms over 3 bedrooms; 40 × 100 lot; Private driveway with carport
