Three-Family Brick House with
For Sale
$949,000
3476 Fulton Street, Brooklyn, NY 11208
Legal 3-family brick home delivered fully vacant, featuring a top-floor 3-bedroom apartment with a private terrace.
Property Size2,480 SF
Days on Market266
Property Features for 3476 Fulton Street
General Information
Standard status
Active
Size
2,480 SF
Property subtype
Multi Family Home
Zoning
R5
Additional Details
Multifamily Units
3
Amenities
private terrace
private backyard
full finished basement
flexible layout
Building Details
Building Size
2,480 SF
Year Built
1910
Stories
2
Construction
brick
Listing Agency:
Re/Max Edge
Listed By:
Albert Taye · License #TAYA286
(718) 612-3088
Source:
Michaelfraulo
Added: Dec 17, 2025
Changed: Sep 8
Last Checked: Sep 8 at 7:02AM
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.
This legal 3-family brick house offers a flexible, investor-friendly layout and is being delivered fully vacant and move-in ready. The top floor features a true 3-bedroom apartment with a private terrace. The first floor has two 1-bedroom units, including one with private backyard access. A full finished basement provides additional usable space.
Located in Cypress Hills, Brooklyn, the property is described as being convenient to transportation and shopping, supported by a very high transit score and strong walk and bike scores.
With its solid brick construction and current vacant delivery, the home is positioned for an owner to move in, rent out, or customize the property right away while maintaining a straightforward 3-unit configuration.
Located in Cypress Hills, Brooklyn, the property is described as being convenient to transportation and shopping, supported by a very high transit score and strong walk and bike scores.
With its solid brick construction and current vacant delivery, the home is positioned for an owner to move in, rent out, or customize the property right away while maintaining a straightforward 3-unit configuration.
Key Highlights
- Legal 3‑family brick home (Year built 1910) in Cypress Hills, Brooklyn
- Fully vacant delivery—move in, rent out, or customize right away
- Top‑floor unit features a true 3‑bedroom apartment with a private terrace
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
$63,663
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
6.71%
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%
$1,273,260
$1.3M
Cap Rate 7%
$909,471
$909.5K
Cap Rate 9%
$707,367
$707.4K
Market Conditions
NOI Build-Up for 2,480 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
$95.2K $38.40/SF
− Vacancy
−$4.3K −$1.73/SF
EGI
$90.9K $36.67/SF
− OpEx
−$27.3K −$11.00/SF
NOI
$63.7K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,273,260
Cap Rate 7%
$909,471
Cap Rate 9%
$707,367
Alternative Uses
Best Use
Multifamily LT 5
$909.5K
$795.8K – $1.06M
NOI $63,663 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$809.8K
$708.6K – $944.8K
NOI $56,686 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,222 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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?
Triplex - Legal 3-family brick home delivered fully vacant, featuring a top-floor 3-bedroom apartment with a private terrace.
Where is this triplex located?
The property is located at 3476 Fulton Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Legal 3‑family brick home (Year built 1910) in Cypress Hills, Brooklyn; Fully vacant delivery—move in, rent out, or customize right away; Top‑floor unit features a true 3‑bedroom apartment with a private terrace
