Three-Story Duplex with Finished
For Sale
$1,380,000
291 Palmetto Street, Brooklyn, NY 11237
MULTI_FAMILY - Brooklyn, NY
Property Size2,766 SF
Lot Size0.05 Acres
Price / SF$498.92
Days on Market96
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 3, Bathroom 2
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.
(718) 680-2776
Listed By:
Yi (Winnie) Lu
(718) 680-2776
Added: May 12
Changed: Aug 3
Last Checked: Aug 15 at 2:06PM
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 three-story, all-brick two-family townhouse offers a versatile duplex layout with a fully finished basement level and a separate entrance. The configuration supports additional space and flexible use within the building. Parking is provided via a carport with a private parking space.
The property is located at 291 Palmetto Street in Brooklyn’s 11237 area of Kings County. It was built in 2011 and sits on a 0.0459-acre lot, with 2,766 square feet of property size.
The building has reliable tenants currently in place, and it can be delivered vacant. Rooms include three bathrooms, supporting day-to-day live/work functionality for an owner-occupant or tenant mix.
The property is located at 291 Palmetto Street in Brooklyn’s 11237 area of Kings County. It was built in 2011 and sits on a 0.0459-acre lot, with 2,766 square feet of property size.
The building has reliable tenants currently in place, and it can be delivered vacant. Rooms include three bathrooms, supporting day-to-day live/work functionality for an owner-occupant or tenant mix.
Key Highlights
- Built in 2011 three‑story all‑brick two‑family townhouse
- Fully finished basement level with separate entrance
- 0.0459‑acre lot
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
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-story, all-brick two-family townhouse with a fully finished basement and separate entrance, plus private 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: Built in 2011 three‑story all‑brick two‑family townhouse; Fully finished basement level with separate entrance; 0.0459‑acre lot
