Renovated Two-Family
For Sale
Contact for pricing
341 E 51ST ST, Brooklyn, NY 11203
Renovated two-family home offering two separate units in a Brooklyn rental property format.
Property Size2,100 SF
Price / SF$476.19
Days on Market103
Property Features for 341 E 51ST ST
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multifamily
Zoning
R5
Investment Type
Owner/User
Net Operating Income
$90,000
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Year Renovated
2026
Buildings
1
Stories
2
Units
1
Listing Agency:
Safdie Realty Group
Listed By:
Roni Yaghoobzar · License #NY 10401324145
Source:
Crexi
Added: Jun 1
Changed: Aug 26
Last Checked: Sep 11 at 4:49AM
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 Safdie Realty Group
Investment Insights
Based on property information with market context.
This renovated two-family duplex is configured as a residential income property with two separate units. The offering is presented as a turnkey, recently renovated asset, suitable for buyers looking for an owner-occupied setup or a straightforward two-unit investment structure.
Located at 341 E 51ST ST in Brooklyn’s East Flatbush area, the property is listed for sale at $1,175,000. The total property size is identified as 2,100 square feet, providing a clear basis for evaluating unit layout, financing, and future operating considerations.
For tenant or owner needs, the two-family format can support flexible living and rental arrangements by providing an additional unit versus a single-family home. Buyers can also evaluate the renovated condition and the duplex’s unit separation when planning occupancy, property management, and budget alignment. As presented, this is a renovated two-family duplex focused on delivering a practical, residential income setup in Brooklyn.
Located at 341 E 51ST ST in Brooklyn’s East Flatbush area, the property is listed for sale at $1,175,000. The total property size is identified as 2,100 square feet, providing a clear basis for evaluating unit layout, financing, and future operating considerations.
For tenant or owner needs, the two-family format can support flexible living and rental arrangements by providing an additional unit versus a single-family home. Buyers can also evaluate the renovated condition and the duplex’s unit separation when planning occupancy, property management, and budget alignment. As presented, this is a renovated two-family duplex focused on delivering a practical, residential income setup in Brooklyn.
Key Highlights
- Renovated two‑family home with two separate units in a Brooklyn rental property format
- Built in 1910
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
$73,546
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
7.35%
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%
$1,470,920
$1.5M
Cap Rate 7%
$1,050,657
$1.1M
Cap Rate 9%
$817,178
$817.2K
Market Conditions
NOI Build-Up for 2,100 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
$107.1K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.1K $50.03/SF
− OpEx
−$31.5K −$15.01/SF
NOI
$73.5K $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%
$1,470,920
Cap Rate 7%
$1,050,657
Cap Rate 9%
$817,178
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$919.3K – $1.23M
NOI $73,546 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$915.9K
$801.4K – $1.07M
NOI $64,111 @ 7.0% cap · market cap 6.41%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,716 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,411
Businesses Nearby
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Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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 - Renovated two-family home offering two separate units in a Brooklyn rental property format.
Where is this duplex located?
The property is located at 341 E 51ST ST Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Renovated two‑family home with two separate units in a Brooklyn rental property format; Built in 1910
