Brick Two-Family Townhouse with
For Sale
$1,380,000
291 Palmetto Street, Brooklyn, NY 11237
Residential, Brooklyn, NY
Property Size2,766 SF
Lot Size0.05 Acres
Price / SF$498.92
Days on Market118
Property Features for 291 Palmetto Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Carport
Basement
Finished
Subdivision
Bushwick
Standard status
Active
Size
2,766 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6772
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Yi (Winnie) Lu
(718) 680-2776
Added: May 12
Changed: Sep 5
Last Checked: Sep 6 at 6:06AM
MLS# 501356
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 2011-built, all-brick duplex is configured as a three-story two-family townhouse with 2,766 square feet of property space. A fully finished basement adds usable area and has its own entrance, while the building includes three bathrooms and covered on-site parking. The property is currently occupied by tenants and may be delivered vacant.
The townhouse is situated in Brooklyn’s 11237 ZIP Code, near the L train and a highly rated middle school. Its residential income configuration, additional lower-level space, and private parking provide a practical setup for an owner-user or investor seeking a two-family property.
The townhouse is situated in Brooklyn’s 11237 ZIP Code, near the L train and a highly rated middle school. Its residential income configuration, additional lower-level space, and private parking provide a practical setup for an owner-user or investor seeking a two-family property.
Key Highlights
- 2011‑built, all‑brick three‑story two‑family townhouse
- 2,766 square feet with a fully finished basement
- Separate entrance provides access to the finished lower level
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
$96,870
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
7.02%
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%
$1,937,400
$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
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
$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 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%
$1,937,400
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-story duplex with a finished lower level, separate entry, and on-site covered parking.
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: 2011‑built, all‑brick three‑story two‑family townhouse; 2,766 square feet with a fully finished basement; Separate entrance provides access to the finished lower level
