Brick Two-Family Duplex with Private
For Sale
$1,799,000
1047 Gravesend Neck Road, Brooklyn, NY 11229
MULTI_FAMILY - Brooklyn, NY
Property Size2,520 SF
Lot Size0.06 Acres
Price / SF$713.89
Days on Market52
Property Features for 1047 Gravesend Neck Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4
Bedrooms
5
Bathrooms
5
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 5
Interior features
A/C Unit, A/C Unit - Wall, Laundry Area, Refrigerator, Stove, Terrace
Basement
Finished, Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,520 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8078
Amenities
balcony
private backyard
laundry room
basement with high ceilings
Building Details
Year built
1965
Floors in Building
3
Number of units
2
Flooring type
Carpet, Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Brooklyn Residential R E Serv
(718) 676-1755
Listed By:
Kim Stavrach
(718) 676-1755
Added: Jun 11
Changed: Jul 30
Last Checked: Aug 1 at 5:06AM
MLS# 502035
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.
Brick two-family duplex in Brooklyn with R4 zoning, built in 1965 and set on a 0.059-acre lot. The property totals 2,520 SF and features a flat roof and brick construction.
The first-floor unit includes a 2-bedroom layout with one bath, kitchen, and a living room/dining room combination. The second-floor owner duplex offers an eat-in kitchen, a balcony that leads to a private backyard, a laundry room, and a powder room. On the third floor, there are three extra-large bedrooms, a master bath, and additional closet space.
The home also includes a large basement with high ceilings and a private driveway. Interior features listed include A/C units (wall units), a dedicated laundry area, and appliances such as a refrigerator and stove. Flooring includes carpet, tile, and hardwood.
Set near a house of worship, both private and public schools, mass transit, and shopping, this layout is designed for owner-occupants and tenants seeking distinct, multi-level living.
The first-floor unit includes a 2-bedroom layout with one bath, kitchen, and a living room/dining room combination. The second-floor owner duplex offers an eat-in kitchen, a balcony that leads to a private backyard, a laundry room, and a powder room. On the third floor, there are three extra-large bedrooms, a master bath, and additional closet space.
The home also includes a large basement with high ceilings and a private driveway. Interior features listed include A/C units (wall units), a dedicated laundry area, and appliances such as a refrigerator and stove. Flooring includes carpet, tile, and hardwood.
Set near a house of worship, both private and public schools, mass transit, and shopping, this layout is designed for owner-occupants and tenants seeking distinct, multi-level living.
Key Highlights
- R4‑zoned brick two‑family duplex built in 1965 with flat roof
- 2,520 SF total living area on a 0.059‑acre lot
- Private driveway plus balcony leading to a private backyard
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.5k | $51.00 |
| − Vacancy | −$2.4k | −$0.97 |
| EGI | $126.1k | $50.03 |
| − OpEx | −$37.8k | −$15.01 |
| NOI | $88.3k | $35.02 |
2,520 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,255 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$1.10M
$961.7K – $1.28M
NOI $76,933 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$2.09M
$1.83M – $2.43M
NOI $146,059 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,946
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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 - R4-zoned brick two-family duplex with private driveway and multiple living levels, including a balcony and terrace.
Where is this duplex located?
The property is located at 1047 Gravesend Neck Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: R4‑zoned brick two‑family duplex built in 1965 with flat roof; 2,520 SF total living area on a 0.059‑acre lot; Private driveway plus balcony leading to a private backyard
