Brooklyn Two-Family Home with
For Sale
$1,599,999
Pending
311 Avenue T, Brooklyn, NY 11223
Vacant two-family home in a desirable Brooklyn neighborhood.
Property Size2,106 SF
Days on Market158
Property Features for 311 Avenue T
General Information
Standard status
Pending
Size
2,106 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,386
Building Details
Building Size
2,106 SF
Year Built
1925
Stories
2
Listing Agency:
RE/MAX Edge
Listed By:
Ester Cohen · License #10401296393
(718) 612-3088
Source:
Elliman
Added: Apr 22
Changed: Sep 18
Last Checked: Sep 26 at 9:41AM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
Located at 311 Avenue T in Brooklyn, this is a two-family home in a sought-after neighborhood. The well-maintained property features two spacious units with versatile layouts and abundant natural light. The property includes a fully finished basement suitable for recreation, a home office, or extended living. A two-car garage adds convenience and value. The location is near transportation, shopping, dining, and everyday essentials. The property will be delivered vacant at closing. The location has a walk score of 96, indicating it is a walker's paradise, a transit score of 84, indicating excellent transit options, and a bike score of 63, indicating it is bikeable.
Key Highlights
- Prime location in a highly desirable and rapidly growing Brooklyn neighborhood.
- Fully vacant two‑family home, ready for immediate occupancy or rental.
- Highly desirable two‑car garage.
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
$73,756
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
4.61%
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%
$1,475,120
$1.5M
Cap Rate 7%
$1,053,657
$1.1M
Cap Rate 9%
$819,511
$819.5K
Market Conditions
NOI Build-Up for 2,106 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
$107.4K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.4K $50.03/SF
− OpEx
−$31.6K −$15.01/SF
NOI
$73.8K $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%
$1,475,120
Cap Rate 7%
$1,053,657
Cap Rate 9%
$819,511
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.0K – $1.23M
NOI $73,756 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$918.5K
$803.7K – $1.07M
NOI $64,294 @ 7.0% cap · market cap 4.02%
Theoretical Best
Specialty Retail
$1.74M
$1.53M – $2.03M
NOI $122,064 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family home in a desirable Brooklyn neighborhood.
Where is this duplex located?
The property is located at 311 Avenue T Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Prime location in a highly desirable and rapidly growing Brooklyn neighborhood.; Fully vacant two‑family home, ready for immediate occupancy or rental.; Highly desirable two‑car garage.
