Two-Family Full-Brick
For Sale
$1,550,000
2483 East 21st Street, Brooklyn, NY 11235
Well-maintained full-brick two-family home with a shared driveway and a separate two-car garage.
Property Size3,840 SF
Days on Market207
Property Features for 2483 East 21st Street
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Multi Family Home
Zoning
R4
Building Details
Building Size
3,840 SF
Year Built
1930
Stories
2
Listing Agency:
Momentum Real Estate LLC
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Source:
Michaelfraulo
Added: Feb 14
Changed: Sep 8
Last Checked: Sep 8 at 8:34AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This well-maintained full-brick two-family residence features a versatile multi-family layout with a duplex configuration on the first floor and a second-floor unit. The home includes 6 bedrooms and 4 full bathrooms, supported by two separate entries to a finished basement, providing additional flexibility within the overall design. The second-floor unit includes its own private balcony and is described as receiving abundant natural light.
The property is built on a 25' x 100' lot with a 20' x 64' building size and offers shared driveway access. A separate two-car garage is included, supporting off-street parking convenience.
Overall, this is a two-family home designed for owner-occupancy with rental income or for pure investment use.
The property is built on a 25' x 100' lot with a 20' x 64' building size and offers shared driveway access. A separate two-car garage is included, supporting off-street parking convenience.
Overall, this is a two-family home designed for owner-occupancy with rental income or for pure investment use.
Key Highlights
- Full‑brick two‑family home built in 1930 with approximately 3,840 sqft of interior living space
- Set on a 25' x 100' lot with a 20' x 64' building size
- Total layout offers 6 bedrooms and 4 full bathrooms across two units
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
$134,483
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
8.68%
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%
$2,689,660
$2.7M
Cap Rate 7%
$1,921,186
$1.9M
Cap Rate 9%
$1,494,256
$1.5M
Market Conditions
NOI Build-Up for 3,840 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
$195.8K $51.00/SF
− Vacancy
−$3.7K −$0.97/SF
EGI
$192.1K $50.03/SF
− OpEx
−$57.6K −$15.01/SF
NOI
$134.5K $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%
$2,689,660
Cap Rate 7%
$1,921,186
Cap Rate 9%
$1,494,256
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,483 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$1.67M
$1.47M – $1.95M
NOI $117,231 @ 7.0% cap · market cap 7.56%
Theoretical Best
Specialty Retail
$3.18M
$2.78M – $3.71M
NOI $222,566 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained full-brick two-family home with a shared driveway and a separate two-car garage.
Where is this duplex located?
The property is located at 2483 East 21st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Full‑brick two‑family home built in 1930 with approximately 3,840 sqft of interior living space; Set on a 25' x 100' lot with a 20' x 64' building size; Total layout offers 6 bedrooms and 4 full bathrooms across two units
