Triplex with Garden-Level
For Sale
$2,749,000
99 Eldert St, Brooklyn, NY 11207
Three-family triplex featuring central air, dishwashers, hardwood floors, and on-site laundry.
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$916.33
Days on Market17
Property Features for 99 Eldert St
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,910
Amenities
central air
dishwashers
hardwood floors
exposed-brick character
on-site laundry
private outdoor space
Building Details
Building Size
3,000 SF
Year Built
1899
Buildings
1
Units
3
Listing Agency:
NEXTHOME FINEST FIRST
(631) 944-8404
Listed By:
Lane Clark · License #10491212843,PersonLicenseNumber
(631) 944-8404
Source:
Elliman
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 12 at 8:31AM
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 NEXTHOME FINEST FIRST
Investment Insights
Based on property information with market context.
This three-family triplex at 99 Eldert St offers an investor-ready income layout with approximately 3,000 gross building square feet on a 20-by-100-foot lot. The residence mix includes a garden-level duplex and two upper homes, with a private outdoor space serving the duplex. The unit interiors highlighted in prior rental marketing include central air, dishwashers, hardwood floors, exposed-brick character, and on-site laundry.
The property is located near the Broadway corridor with J service providing connectivity to Bushwick, Bed-Stuy, and Manhattan. BikeScore is 64, walkScore is 90, and transitScore is 100.
Built in 1899, this building is positioned for multi-bedroom renter demand with a flexible, multi-home configuration and space that can support ongoing rent growth opportunities, subject to verification of actual legal layouts and records.
The property is located near the Broadway corridor with J service providing connectivity to Bushwick, Bed-Stuy, and Manhattan. BikeScore is 64, walkScore is 90, and transitScore is 100.
Built in 1899, this building is positioned for multi-bedroom renter demand with a flexible, multi-home configuration and space that can support ongoing rent growth opportunities, subject to verification of actual legal layouts and records.
Key Highlights
- Three‑family triplex with approximately 3,000 gross building square feet
- 20‑by‑100‑foot lot with a garden‑level duplex and two upper homes
- Private outdoor space serving the garden‑level duplex
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
3.82%
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 3.82%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 6.33%
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
2,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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?
Triplex - Three-family triplex featuring central air, dishwashers, hardwood floors, and on-site laundry.
Where is this triplex located?
The property is located at 99 Eldert St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,749,000.
What are key features of this property?
This property features: Three‑family triplex with approximately 3,000 gross building square feet; 20‑by‑100‑foot lot with a garden‑level duplex and two upper homes; Private outdoor space serving the garden‑level duplex
