Two-Family with Finished
For Sale
$1,650,000
2667 Cropsey Ave, Brooklyn, NY 11214
Legal two-family home with a full finished basement and separate side entrance for flexible living or rental layouts.
Property Size2,160 SF
Price / SF$763.89
Days on Market145
Property Features for 2667 Cropsey Ave
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1930
Year Renovated
2005
Tenancy
Multi
Listing Agency:
Robert DeFalco Realty, Inc.
Listed By:
Maged Girgis · License #30GI0978737
(347) 524-9029
Source:
Statenislandhomelistings
Added: Apr 30
Changed: Sep 5
Last Checked: Sep 21 at 7:31AM
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 Robert DeFalco Realty, Inc.
Investment Insights
Based on property information with market context.
This legal two-family property offers a fully finished basement with a separate side entrance and substantial additional living space. The basement includes a large living area, wet bar, 3/4 bathroom, extra office room, and dedicated utilities and laundry. The main level features hardwood floors, a large living room and dining room, an office room, a bedroom, and an eat-in kitchen with access to the yard. As configured, the layout supports a straightforward residential use and also offers the possibility of reconfiguring LV1 into a three-bedroom unit.
Upstairs includes a second apartment with four bedrooms, a full bathroom, a large eat-in kitchen, a dining area, and two balconies. The home sits on a large corner lot with a three-car driveway and yard. The property is described as being in solid good condition and was fully gut renovated in 2005. It will be delivered vacant.
For owner-occupants or investors seeking income-producing flexibility, the combination of two apartment levels and a finished basement with its own entrance can support a variety of rental or multi-generational arrangements. The property is located near Caesar’s Bay shopping, schools, and transportation, and is described as being close to the highway.
Upstairs includes a second apartment with four bedrooms, a full bathroom, a large eat-in kitchen, a dining area, and two balconies. The home sits on a large corner lot with a three-car driveway and yard. The property is described as being in solid good condition and was fully gut renovated in 2005. It will be delivered vacant.
For owner-occupants or investors seeking income-producing flexibility, the combination of two apartment levels and a finished basement with its own entrance can support a variety of rental or multi-generational arrangements. The property is located near Caesar’s Bay shopping, schools, and transportation, and is described as being close to the highway.
Key Highlights
- Legal 2‑family home (year built 1930) with a full finished basement and separate side entrance
- Fully gut renovated in 2005
- Basement features a large living area, wet bar, 3/4 bathroom, extra office room, plus laundry and utilities
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
$58,914
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
3.57%
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%
$1,178,280
$1.2M
Cap Rate 7%
$841,629
$841.6K
Cap Rate 9%
$654,600
$654.6K
Market Conditions
NOI Build-Up for 2,160 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
$88.1K $40.80/SF
− Vacancy
−$4.0K −$1.84/SF
EGI
$84.2K $38.96/SF
− OpEx
−$25.2K −$11.69/SF
NOI
$58.9K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,178,280
Cap Rate 7%
$841,629
Cap Rate 9%
$654,600
Alternative Uses
Best Use
Multifamily LT 5
$841.6K
$736.4K – $981.9K
NOI $58,914 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$754.3K
$660.0K – $880.0K
NOI $52,800 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,203 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Check the figures for this property
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 - Legal two-family home with a full finished basement and separate side entrance for flexible living or rental layouts.
Where is this duplex located?
The property is located at 2667 Cropsey Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Legal 2‑family home (year built 1930) with a full finished basement and separate side entrance; Fully gut renovated in 2005; Basement features a large living area, wet bar, 3/4 bathroom, extra office room, plus laundry and utilities
