Two-Unit Duplex with Private
For Sale
$975,000
243 Herzl St, Brooklyn, NY 11212
Residential Income, Brooklyn, NY
Property Size2,200 SF
Lot Size0.06 Acres
Price / SF$443.18
Days on Market15
Property Features for 243 Herzl St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 6, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 3
Interior features
Entrance Foyer
High school district
23
Standard status
Active
APN
14-000.000-3556-009.000
Lot size
0.06 Acres
Building Details
Year built
1930
Listing Agency:
Conscious Community Realty Group LLC
Listed By:
Torri Clayton
(646) 764-2723
Added: Aug 25
Changed: Sep 8
Last Checked: Sep 8 at 12:06PM
MLS# 11949813
Copyright © 2026 My State MLS. 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-story duplex at 243 Herzl Street contains approximately 2,200 square feet of interior space within two separate units. The home was built in 1930 and retains classic character, while the layout provides room for modernization. Unit 1 includes three bedrooms and one-and-a-half baths; Unit 2 offers three bedrooms and one bath. A fully renovated basement adds usable space, and private parking is included on the 2,450-square-foot lot.
The property is in Brooklyn, NY 11212, on a residential block near parks, supermarkets, shopping, and public transit. Its two-unit configuration supports a range of owner-user and rental arrangements, subject to applicable requirements.
The property is in Brooklyn, NY 11212, on a residential block near parks, supermarkets, shopping, and public transit. Its two-unit configuration supports a range of owner-user and rental arrangements, subject to applicable requirements.
Key Highlights
- Two separate units with three bedrooms each
- Unit 1 includes 1.5 baths; Unit 2 includes 1 bath
- Approximately 2,200 square feet of interior space
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
$77,048
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
7.90%
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%
$1,540,960
$1.5M
Cap Rate 7%
$1,100,686
$1.1M
Cap Rate 9%
$856,089
$856.1K
Market Conditions
NOI Build-Up for 2,200 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
$112.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$110.1K $50.03/SF
− OpEx
−$33.0K −$15.01/SF
NOI
$77.0K $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%
$1,540,960
Cap Rate 7%
$1,100,686
Cap Rate 9%
$856,089
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 6.89%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,634
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
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-story Brooklyn duplex with a renovated basement, separate residences, and dedicated off-street parking.
Where is this duplex located?
The property is located at 243 Herzl St Brooklyn, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two separate units with three bedrooms each; Unit 1 includes 1.5 baths; Unit 2 includes 1 bath; Approximately 2,200 square feet of interior space
