Four-Story Triplex
New
For Sale
$3,995,000
244 6th Ave, Brooklyn, NY 11215
A three-family layout combines a lower duplex with two upper floor-through apartments and direct access to a rear deck.
Property Size5,218 SF
Days on Market3
Property Features for 244 6th Ave
General Information
Standard status
Active
Size
5,218 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,584
Building Details
Building Size
5,218 SF
Year Built
1899
Stories
3
Units
3
Listed By:
Teri A Cavanaugh · License #10301215524 (NY)
(718) 765-3853
Source:
Elliman
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 10:05AM
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 Teri A Cavanaugh
Investment Insights
Based on property information with market context.
This 1899 brownstone is arranged as a three-family property with a lower duplex and two floor-through apartments on the upper levels. The 19.33-foot-wide, 54-foot-deep residence rises four stories and retains period detailing throughout. The parlor level includes well-proportioned rooms, while the rear kitchen opens onto a deck overlooking the garden. The garden floor provides two bedrooms, a flexible middle room, and a full bath, with a full basement offering storage and utility space.
The existing configuration can remain in place or be reworked into two duplexes, a triplex over a garden apartment, or a single-family residence. Improvements include a roof approximately two years old and a forced-air furnace installed five years ago. The property is near Fifth and Seventh Avenues, Prospect Park, and public transportation, with a bike score of 91, walk score of 100, and transit score of 100.
The existing configuration can remain in place or be reworked into two duplexes, a triplex over a garden apartment, or a single-family residence. Improvements include a roof approximately two years old and a forced-air furnace installed five years ago. The property is near Fifth and Seventh Avenues, Prospect Park, and public transportation, with a bike score of 91, walk score of 100, and transit score of 100.
Key Highlights
- Three‑family configuration with a lower duplex and two upper floor‑through apartments
- Four‑story brownstone measuring 19.33 feet wide and 54 feet deep
- Garden floor includes two bedrooms, a middle room, and a full bath
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
$182,743
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
4.57%
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%
$3,654,860
$3.7M
Cap Rate 7%
$2,610,614
$2.6M
Cap Rate 9%
$2,030,478
$2.0M
Market Conditions
NOI Build-Up for 5,218 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
$266.1K $51.00/SF
− Vacancy
−$5.1K −$0.97/SF
EGI
$261.1K $50.03/SF
− OpEx
−$78.3K −$15.01/SF
NOI
$182.7K $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%
$3,654,860
Cap Rate 7%
$2,610,614
Cap Rate 9%
$2,030,478
Alternative Uses
Best Use
Multifamily LT 5
$2.61M
$2.28M – $3.05M
NOI $182,743 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$2.28M
$1.99M – $2.66M
NOI $159,300 @ 7.0% cap · market cap 3.99%
Theoretical Best
Specialty Retail
$4.32M
$3.78M – $5.04M
NOI $302,435 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,404
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - A three-family layout combines a lower duplex with two upper floor-through apartments and direct access to a rear deck.
Where is this triplex located?
The property is located at 244 6th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Three‑family configuration with a lower duplex and two upper floor‑through apartments; Four‑story brownstone measuring 19.33 feet wide and 54 feet deep; Garden floor includes two bedrooms, a middle room, and a full bath
