Three-Story Duplex
For Sale
$2,550,000
253 21st St, Brooklyn, NY 11215
MULTI_FAMILY - Other - Brooklyn, NY
Property Size2,724 SF
Lot Size0.05 Acres
Price / SF$936.12
Days on Market138
Property Features for 253 21st St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 5
Subdivision
Greenwood Heights
Standard status
Active
Size
2,724 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6515
Utilities
Heating system
Natural Gas
Amenities
granite kitchens with stainless steel appliances
modern bathrooms
skylights
mantle fireplaces
backyard with deck
full basement with separate entrances
tall tin ceilings
split A/C units
Building Details
Year built
1901
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Aluminum
Roof type
Flat
Architectural style
Other
Listing Agency:
REMAX REAL ESTATE PROFESSIONALS
(718) 887-5708
Listed By:
Vito Angelo · License #40AN0957928
(718) 887-5708
Added: Apr 7
Changed: Aug 13
Last Checked: Aug 22 at 1:06AM
MLS# 11687118
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 three-story duplex home is built as a 20-foot-wide, 3-family property that is currently configured and utilized as an extra-spacious 2-family. The layout includes a very nice sized 2-bedroom rental unit on the 3rd floor over an owners duplex spanning the 1st and 2nd floors with 3–4 bedrooms and 2 full bathrooms. A full-size basement with high ceilings includes separate entrances and complements the interior plan.
The home’s upgrades and features include granite kitchens with stainless steel appliances, modern bathrooms, bright skylights, mantle fireplaces, tall tin ceilings, a newer roof, split A/C units, and updated electrical and plumbing systems. Flooring includes tile and hardwood, and the exterior includes an extra-deep backyard with a deck.
Set on a 0.046-acre lot at 253 21st St in Brooklyn (11215), the property was built in 1901. Heating is natural gas, and the roof is flat. Construction materials include aluminum.
The home’s upgrades and features include granite kitchens with stainless steel appliances, modern bathrooms, bright skylights, mantle fireplaces, tall tin ceilings, a newer roof, split A/C units, and updated electrical and plumbing systems. Flooring includes tile and hardwood, and the exterior includes an extra-deep backyard with a deck.
Set on a 0.046-acre lot at 253 21st St in Brooklyn (11215), the property was built in 1901. Heating is natural gas, and the roof is flat. Construction materials include aluminum.
Key Highlights
- 20‑foot‑wide, three‑story duplex home currently configured as extra‑spacious 2‑family
- 0.046‑acre lot at 253 21st St, Brooklyn, NY 11215
- Very nice sized 2‑bedroom rental unit on 3rd floor over owners duplex (1st–2nd)
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
$95,399
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
3.74%
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%
$1,907,980
$1.9M
Cap Rate 7%
$1,362,843
$1.4M
Cap Rate 9%
$1,059,989
$1.1M
Market Conditions
NOI Build-Up for 2,724 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
$138.9K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$136.3K $50.03/SF
− OpEx
−$40.9K −$15.01/SF
NOI
$95.4K $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%
$1,907,980
Cap Rate 7%
$1,362,843
Cap Rate 9%
$1,059,989
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,399 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,161 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$2.26M
$1.97M – $2.63M
NOI $157,883 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,296
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
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?
Duplex - Three-story duplex configuration with updated systems, natural gas heat, newer roof, skylights, and a full-size basement.
Where is this duplex located?
The property is located at 253 21st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 20‑foot‑wide, three‑story duplex home currently configured as extra‑spacious 2‑family; 0.046‑acre lot at 253 21st St, Brooklyn, NY 11215; Very nice sized 2‑bedroom rental unit on 3rd floor over owners duplex (1st–2nd)
