Building Details

Building Size 2,200 SF

Year Built 1910

Listing Agency: Revived Residential

Listed By: Nathan Pinsky · License #NP4493 Show Phone

Source: Howardhannanyc

Added: May 13 Changed: Sep 29 Last Checked: Oct 10 at 12:14AM

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Investment Insights

Based on property information with market context.

Located in East Flatbush, this renovated two-unit townhouse at 355 East 51st Street features a 4-bedroom, 2-bath unit over a 3-bedroom, 2-bath garden duplex. The property includes a finished basement with a separate entrance and private parking. The home has been updated with wide oak flooring, recessed lighting, new electrical and plumbing systems, and energy-efficient split-unit A/C systems. Situated just off Linden Blvd and Utica Avenue, the property offers access to transportation, shopping, and local amenities. The location has a bike score of 79, indicating it is very bikeable, a walk score of 98, designating it as a walker's paradise, and a transit score of 100, identifying it as a rider's paradise. This brick property is suitable for buyers seeking a spacious home with income-generating rental potential.

Key Highlights

• Two‑unit townhouse: 4‑bed/2‑bath unit over a 3‑bed/2‑bath garden duplex, offering spacious living and income potential.
• Private parking space, a rare and valuable asset in the neighborhood.
• Fully renovated with wide oak flooring, recessed lighting, new electrical and plumbing, and split‑unit A/C systems.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,048

Cap Rate

6.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,540,960 $1.5M

Cap Rate 7%

$1,100,686 $1.1M

Cap Rate 9%

$856,089 $856.1K

Market Conditions

NOI Build-Up for 2,200 SF

Gross rent

$112.2K $51.00/SF

− Vacancy

−$2.1K −$0.97/SF

EGI

$110.1K $50.03/SF

− OpEx

−$33.0K −$15.01/SF

NOI

$77.0K $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%

$1,540,960

Cap Rate 7%

$1,100,686

Cap Rate 9%

$856,089

Alternative Uses

Best Use

Multifamily LT 5

$1.10M

$963.1K – $1.28M (±1% cap)

NOI $77,048 @ 7.0% cap · market cap 6.71%

Second Best

Apartment 5plus

$959.5K

$839.6K – $1.12M (±1% cap)

NOI $67,164 @ 7.0% cap · market cap 5.85%

Theoretical Best

Specialty Retail

$1.82M

$1.59M – $2.13M (±1% cap)

NOI $127,512 @ 7.0% cap · market cap 11.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Skin Care Clinic Gym & Fitness Center Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,696

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - East Flatbush townhouse with income potential and private parking.

Where is this duplex located?

The property is located at 355 E 51ST Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,148,000.

What are key features of this property?

This property features: Two‑unit townhouse: 4‑bed/2‑bath unit over a 3‑bed/2‑bath garden duplex, offering spacious living and income potential.; Private parking space, a rare and valuable asset in the neighborhood.; Fully renovated with wide oak flooring, recessed lighting, new electrical and plumbing, and split‑unit A/C systems.**