Two-Unit Residential Income
New
For Sale
$1,389,000
631 E 32ND, Brooklyn, NY 11210
Residential Income, Brooklyn, NY
Property Size4,085 SF
Lot Size0.09 Acres
Price / SF$340.02
Days on Market6
Property Features for 631 E 32ND
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Mixed Use
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 8, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 7
Patio and Porch features
Porch
Interior features
Entrance Foyer, Master Downstairs
Subdivision
Little Haiti
Standard status
Active
Size
4,085 SF
Lot size
0.09 Acres
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1920
Floors in Building
3
Flooring type
Hardwood
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
LKNG PROPERTIES
Listed By:
Dominic Codio
(646) 657-3490
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 23 at 7:06PM
MLS# 11991541
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story residential income property contains two independent units with eight bedrooms and three bathrooms. The layout includes substantial living areas, a finished basement with a full bath, hardwood flooring, a porch, and baseboard heating powered by natural gas. The residence was built in 1920 and features vinyl siding with an asphalt roof.
The second-floor duplex may be renovated to convert the property from a two-family residence into a legal three-family configuration, subject to applicable approvals. Interior features include an entrance foyer and a primary bedroom on the first floor. Located in Brooklyn, the property is identified by the address 631 E 32nd, Brooklyn, NY 11210.
The second-floor duplex may be renovated to convert the property from a two-family residence into a legal three-family configuration, subject to applicable approvals. Interior features include an entrance foyer and a primary bedroom on the first floor. Located in Brooklyn, the property is identified by the address 631 E 32nd, Brooklyn, NY 11210.
Key Highlights
- Two independent residential units in a two‑story configuration
- Eight bedrooms and three bathrooms
- Finished basement with full bath
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
$124,711
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
8.98%
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%
$2,494,220
$2.5M
Cap Rate 7%
$1,781,586
$1.8M
Cap Rate 9%
$1,385,678
$1.4M
Market Conditions
NOI Build-Up for 4,085 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
$231.4K $56.64/SF
− Vacancy
−$4.6K −$1.13/SF
EGI
$226.7K $55.51/SF
− OpEx
−$102.0K −$24.98/SF
NOI
$124.7K $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%
$2,494,220
Cap Rate 7%
$1,781,586
Cap Rate 9%
$1,385,678
Alternative Uses
Best Use
Multifamily LT 5
$2.04M
$1.79M – $2.38M
NOI $143,064 @ 7.0% cap · market cap 10.30%
Second Best
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,711 @ 7.0% cap · market cap 8.98%
Theoretical Best
Specialty Retail
$3.38M
$2.96M – $3.95M
NOI $236,767 @ 7.0% cap · market cap 17.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
Check the figures for this property
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 - Two-story residence with separate units, a finished basement, and a full bath offers flexible occupancy options.
Where is this duplex located?
The property is located at 631 E 32ND Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,389,000.
What are key features of this property?
This property features: Two independent residential units in a two‑story configuration; Eight bedrooms and three bathrooms; Finished basement with full bath
