Modern Bushwick Two-Family
For Sale
$1,380,000
Pending
291 Palmetto Street, Brooklyn, NY 11237
Two-family townhouse with parking, low taxes, and great transit.
Property Size2,766 SF
Days on Market171
Property Features for 291 Palmetto Street
General Information
Standard status
Pending
Size
2,766 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,772
Building Details
Building Size
2,766 SF
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Yi (Winnie) Lu
(718) 680-2776
Source:
Serhant
Added: May 12
Changed: Oct 26
Last Checked: Oct 28 at 5:32PM
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 E House Realty & Mgt. Inc.
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Investment Insights
Based on property information with market context.
This modern, three-story, all-brick, two-family townhouse was built in 2011 and offers versatility and rental potential. The property features a spacious layout with a fully finished basement level and a separate entrance, suitable for additional space or storage. It includes a private parking space and has low carrying costs, with annual taxes of $6,800. The property is located minutes from the L train and a high-rated middle school. Reliable tenants are currently in place, and the building can be delivered vacant. The location has a bike score of 70, making it very bikeable, a walk score of 82, indicating it is very walkable, and a transit score of 84, reflecting excellent transit options.
Key Highlights
- Massive rental potential in a modern 2‑family townhouse built in 2011.
- Exceptionally low annual taxes of only $6,800.
- Rare private parking space in Bushwick.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,870
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,937,400
$1.9M
Cap Rate 7%
$1,383,857
$1.4M
Cap Rate 9%
$1,076,333
$1.1M
Market Conditions
NOI Build-Up for 2,766 SF
Gross rent
$141.1K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$138.4K $50.03/SF
− OpEx
−$41.5K −$15.01/SF
NOI
$96.9K $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 Rate 5%
$1,937,400
Cap Rate 7%
$1,383,857
Cap Rate 9%
$1,076,333
Alternative Uses
Best Use
Multifamily LT 5
$1.38M
$1.21M – $1.61M
NOI $96,870 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,443 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,317 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
5,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-family townhouse with parking, low taxes, and great transit.
Where is this duplex located?
The property is located at 291 Palmetto Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Massive rental potential in a modern 2‑family townhouse built in 2011.; Exceptionally low annual taxes of only $6,800.; Rare **private parking space** in Bushwick.
