Solid Brick Multifamily
New
For Sale
$980,000
342 Legion St, Brooklyn, NY 11212
1930-built dwelling offers four bedrooms and three bathrooms in a highly walkable Brooklyn setting.
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$408.33
Days on Market6
Property Features for 342 Legion St
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,326
Building Details
Building Size
2,400 SF
Year Built
1930
Stories
3
Units
2
Construction
brick
Listing Agency:
(917) 578-9551
Listed By:
ELKIN J SERNA
(917) 578-9551
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 12 at 9:05AM
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 ELKIN J SERNA
Investment Insights
Based on property information with market context.
Constructed in 1930, this solid brick multifamily dwelling provides approximately 2,400 square feet of interior space with four bedrooms and three bathrooms. The property occupies a 2,500-square-foot lot measuring 25 feet by 100 feet, creating a compact residential configuration in Brooklyn.
Located at 342 Legion St, the property scores 88 for walkability, 74 for biking, and 98 for transit access. These ratings place the address in a highly walkable, transit-oriented setting with strong bicycle accessibility.
Located at 342 Legion St, the property scores 88 for walkability, 74 for biking, and 98 for transit access. These ratings place the address in a highly walkable, transit-oriented setting with strong bicycle accessibility.
Key Highlights
- Approximately 2,400 sq. ft. of interior space
- Four bedrooms and three bathrooms
- Solid brick multifamily dwelling
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
$73,270
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
7.48%
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%
$1,465,400
$1.5M
Cap Rate 7%
$1,046,714
$1.0M
Cap Rate 9%
$814,111
$814.1K
Market Conditions
NOI Build-Up for 2,400 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
$135.9K $56.64/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$133.2K $55.51/SF
− OpEx
−$59.9K −$24.98/SF
NOI
$73.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,465,400
Cap Rate 7%
$1,046,714
Cap Rate 9%
$814,111
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
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?
Multifamily property - 1930-built dwelling offers four bedrooms and three bathrooms in a highly walkable Brooklyn setting.
Where is this multifamily property located?
The property is located at 342 Legion St Brooklyn, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Approximately 2,400 sq. ft. of interior space; Four bedrooms and three bathrooms; Solid brick multifamily dwelling
