Two-Family Victorian
New
For Sale
$1,995,500
342 WESTMINSTER Road, Brooklyn, NY 11218
Three floors include kitchens, living and dining areas, bedrooms, and additional rooms.
Property Size2,296 SF
Price / SF$869.12
Days on Market5
Property Features for 342 WESTMINSTER Road
General Information
Standard status
Active
Size
2,296 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
requires some TLC
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,880
Amenities
front porch
covered rear patio
backyard
laundry
Building Details
Building Size
2,296 SF
Year Built
1925
Buildings
1
Construction
Queen Anne Victorian
Listing Agency:
POLJAN PROPERTIES INC
Listed By:
Peter J Poljan
(718) 484-4776
Source:
Miradorrealestate
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 13 at 12:35AM
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 POLJAN PROPERTIES INC
Investment Insights
Based on property information with market context.
This two-family Queen Anne Victorian, built in 1925, has a seven-plus-bedroom, two-plus-bathroom layout across three floors, along with a semi-finished basement. The first floor has bedrooms on opposite sides of the home and a full bathroom between them. The second floor is arranged as a one-bedroom unit with living and dining areas; it may be reconfigured as two bedrooms. Three additional rooms occupy the third floor. The home needs some TLC. A driveway accommodates at least two cars, and a detached two-car garage is also on site.
Outdoor areas include a front porch, covered rear patio, and backyard. The property is on Westminster Road in Ditmas Park, three blocks from the Q train at Cortelyou. The basement and garage may have ADU potential, subject to approvals.
Outdoor areas include a front porch, covered rear patio, and backyard. The property is on Westminster Road in Ditmas Park, three blocks from the Q train at Cortelyou. The basement and garage may have ADU potential, subject to approvals.
Key Highlights
- Two‑family Queen Anne Victorian built in 1925
- Seven‑plus bedrooms and two‑plus bathrooms
- Three additional rooms on the third floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,410
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,608,200
$1.6M
Cap Rate 7%
$1,148,714
$1.1M
Cap Rate 9%
$893,444
$893.4K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$117.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$114.9K $50.03/SF
− OpEx
−$34.5K −$15.01/SF
NOI
$80.4K $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 Rate 5%
$1,608,200
Cap Rate 7%
$1,148,714
Cap Rate 9%
$893,444
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,410 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$1.00M
$876.2K – $1.17M
NOI $70,094 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.22M
NOI $133,076 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,567
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
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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 - Three floors include kitchens, living and dining areas, bedrooms, and additional rooms.
Where is this duplex located?
The property is located at 342 WESTMINSTER Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,500.
What are key features of this property?
This property features: Two‑family Queen Anne Victorian built in 1925; Seven‑plus bedrooms and two‑plus bathrooms; Three additional rooms on the third floor
