Victorian-Style Triplex with
For Sale
$1,625,000
627 E 32nd St, Brooklyn, NY 11210
Three-family Victorian with a finished basement, fenced private driveway for up to four cars, and a two-car garage.
Property Size3,000 SF
Lot Size0.09 Acres
Price / SF$541.67
Days on Market132
Property Features for 627 E 32nd St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
6
Lot size
0.09 Acres
Property subtype
Investment
Zoning
R6
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,076
Amenities
private driveway
garage
backyard
Building Details
Year Built
1920
Stories
3
Units
3
Construction
Victorian
Listing Agency:
Citadel Circle Realty
Listed By:
Deborah C. Bourne
(718) 690-5449
Source:
Elliman
Added: Apr 28
Changed: Aug 31
Last Checked: Sep 6 at 6:15AM
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 Citadel Circle Realty
Investment Insights
Based on property information with market context.
This Victorian-style three-family home offers a versatile unit mix of 2BR, 3BR, and 2BR layouts, complemented by a fully finished basement. The property sits on a 4,100 square foot lot and includes more than 3,000 square feet of living space. With R6 zoning, there is an option to expand or develop the site.
A fenced setting provides privacy, with a private driveway that can accommodate up to four cars in addition to the two-car garage. The backyard offers outdoor space for relaxing or entertaining. The home is positioned in the Flatbush/Midwood area with proximity to transportation, including Flatbush Junction, and to Brooklyn College.
Overall, it presents a functional residential income setup with on-site parking and development flexibility under R6 zoning.
A fenced setting provides privacy, with a private driveway that can accommodate up to four cars in addition to the two-car garage. The backyard offers outdoor space for relaxing or entertaining. The home is positioned in the Flatbush/Midwood area with proximity to transportation, including Flatbush Junction, and to Brooklyn College.
Overall, it presents a functional residential income setup with on-site parking and development flexibility under R6 zoning.
Key Highlights
- Victorian‑style 3‑family home built in 1920 with over 3,000 sq ft of living space
- R6 zoned property on a 4,100 sq ft lot with option to expand or develop
- Fully finished basement for additional usable living space
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
$105,065
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
6.47%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
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 - Three-family Victorian with a finished basement, fenced private driveway for up to four cars, and a two-car garage.
Where is this triplex located?
The property is located at 627 E 32nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Victorian‑style 3‑family home built in 1920 with over 3,000 sq ft of living space; R6 zoned property on a 4,100 sq ft lot with option to expand or develop; Fully finished basement for additional usable living space
