Brick Three-Family
For Sale
$1,529,000
2433 E 2nd St, Brooklyn, NY 11223
Three-level brick property with backyard access, private driveway, and a gas boiler.
Property Size2,580 SF
Lot Size0.05 Acres
Days on Market15
Property Features for 2433 E 2nd St
General Information
Standard status
Active
Size
2,580 SF
Total Parking Spaces
3
Lot size
0.05 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR, 1 x 2BR, 1 x 3BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,486
Amenities
front porch
backyard
Building Details
Building Size
2,580 SF
Year Built
1960
Buildings
1
Stories
2
Construction
brick
Listing Agency:
(718) 872-5522
Listed By:
Suying (Sue) Wu · License #10401254106
(718) 872-5522
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 28 at 1:20PM
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 Suying (Sue) Wu
Investment Insights
Based on property information with market context.
This three-family brick property was built in 1960 and includes a private front driveway with space for three cars. The first level has two bedrooms, an eating kitchen, and access to the backyard. The second level also provides two bedrooms, along with a living room, dining room, eating kitchen, and backyard access. The third level contains three bedrooms, a living room, dining room, eating kitchen, and a front porch. A gas boiler and new hot water heater serve the property.
The building is located at 2433 E 2nd St in Brooklyn’s Gravesend area. WalkScore is 96, TransitScore is 84, and BikeScore is 63. The property has a 20x100 lot and a 20x53 building footprint.
The building is located at 2433 E 2nd St in Brooklyn’s Gravesend area. WalkScore is 96, TransitScore is 84, and BikeScore is 63. The property has a 20x100 lot and a 20x53 building footprint.
Key Highlights
- Three‑family brick property built in 1960
- Private front driveway with space for three cars
- First and second levels each include two bedrooms and backyard access
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
$90,356
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
5.91%
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%
$1,807,120
$1.8M
Cap Rate 7%
$1,290,800
$1.3M
Cap Rate 9%
$1,003,956
$1.0M
Market Conditions
NOI Build-Up for 2,580 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
$131.6K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$129.1K $50.03/SF
− OpEx
−$38.7K −$15.01/SF
NOI
$90.4K $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%
$1,807,120
Cap Rate 7%
$1,290,800
Cap Rate 9%
$1,003,956
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,356 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$1.13M
$984.6K – $1.31M
NOI $78,765 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$2.14M
$1.87M – $2.49M
NOI $149,537 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,363
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?
Triplex - Three-level brick property with backyard access, private driveway, and a gas boiler.
Where is this triplex located?
The property is located at 2433 E 2nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,529,000.
What are key features of this property?
This property features: Three‑family brick property built in 1960; Private front driveway with space for three cars; First and second levels each include two bedrooms and backyard access
