Three-Story Duplex with Private
For Sale
$1,990,000
632 Greene Avenue, Brooklyn, NY 11221
Residential, Brooklyn, NY
Property Size3,360 SF
Lot Size0.05 Acres
Price / SF$592.26
Days on Market242
Property Features for 632 Greene Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2
Patio and Porch features
Patio
Interior features
Patio Garden, Refrigerator, Stove
Basement
Unfinished
Subdivision
Bedford Stuyvesant
Standard status
Active
Size
3,360 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4109
Amenities
private front patio
private yard
front yard
Building Details
Year built
1899
Floors in Building
3
Number of units
2
Flooring type
Tile, Ceramic, Hardwood
Building materials
Block
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Christopher Tomasulo · License ##10401306451
(917) 318-7410
Added: Jan 9
Changed: Sep 8
Last Checked: Sep 8 at 2:06PM
MLS# 498089
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 3,360-square-foot duplex is arranged across three stories and includes two residential units. Built in 1899, the property retains tall windows, decorative moldings, a grand entry, hardwood and ceramic flooring, and a block construction system. Separate access points support the two-family configuration, while the interior includes multiple bedrooms and bathrooms.
Outdoor features include a private front patio, fenced entry, and a larger rear yard with additional patio space. The property is located on Greene Avenue in Brooklyn and offers access to public transportation, schools, restaurants, cafes, boutiques, and other neighborhood amenities. R6B zoning and the existing two-unit arrangement provide a clear residential income-property profile.
Outdoor features include a private front patio, fenced entry, and a larger rear yard with additional patio space. The property is located on Greene Avenue in Brooklyn and offers access to public transportation, schools, restaurants, cafes, boutiques, and other neighborhood amenities. R6B zoning and the existing two-unit arrangement provide a clear residential income-property profile.
Key Highlights
- 3,360‑square‑foot, three‑story duplex with two residential units
- 0.0459‑acre lot with private yard and patio areas
- R6B zoning
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
$117,673
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
5.91%
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%
$2,353,460
$2.4M
Cap Rate 7%
$1,681,043
$1.7M
Cap Rate 9%
$1,307,478
$1.3M
Market Conditions
NOI Build-Up for 3,360 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
$171.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$168.1K $50.03/SF
− OpEx
−$50.4K −$15.01/SF
NOI
$117.7K $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%
$2,353,460
Cap Rate 7%
$1,681,043
Cap Rate 9%
$1,307,478
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,673 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$1.47M
$1.28M – $1.71M
NOI $102,577 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$2.78M
$2.43M – $3.25M
NOI $194,746 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,964
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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?
Duplex - Two-family layout with R6B zoning and outdoor patio space.
Where is this duplex located?
The property is located at 632 Greene Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 3,360‑square‑foot, three‑story duplex with two residential units; 0.0459‑acre lot with private yard and patio areas; R6B zoning
