Detached Two-Family
For Sale
$2,298,000
1429 70th Street, Brooklyn, NY 11228
Residential, Duplex, Brooklyn, NY
Property Size2,150 SF
Lot Size0.09 Acres
Price / SF$1,068
Days on Market45
Property Features for 1429 70th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 1
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Dyker Heights
Standard status
Active
Size
2,150 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
8500
Amenities
summer kitchen
backyard
Building Details
Year built
1925
Number of units
2
Flooring type
Parquet Wood
Building materials
Brick, Wood Frame
Architectural style
Other
Listing Agency:
MadisonEstates Sothebys Realty
Listed By:
Vincent Blandino · License #BLANT5781
(718) 232-1004
Added: Aug 18
Changed: Sep 27
Last Checked: Oct 1 at 4:06PM
MLS# 503796
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 fully detached two-family property in Brooklyn occupies a 0.0918-acre lot and contains 2,150 square feet. The first-floor residence includes a three-bedroom layout, while the upper apartment is arranged as a duplex with an open flow and abundant natural light. A basement with its own front entry, summer kitchen, and backyard access provides additional functional space. The property also includes parquet wood flooring, a refrigerator, and a stove.
A private driveway leads to a detached two-car garage, with outdoor space extending beyond the building. Constructed in 1925 with brick and wood-frame materials, the property is located near public transportation, schools, places of worship, and shopping. It carries R5 zoning and is positioned at 1429 70th Street in Brooklyn, NY 11228.
A private driveway leads to a detached two-car garage, with outdoor space extending beyond the building. Constructed in 1925 with brick and wood-frame materials, the property is located near public transportation, schools, places of worship, and shopping. It carries R5 zoning and is positioned at 1429 70th Street in Brooklyn, NY 11228.
Key Highlights
- Fully detached two‑family property on a 0.0918‑acre lot
- 2,150 square feet with a three‑bedroom first‑floor layout
- Upper apartment configured as a duplex with natural light
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
$75,297
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
3.28%
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%
$1,505,940
$1.5M
Cap Rate 7%
$1,075,671
$1.1M
Cap Rate 9%
$836,633
$836.6K
Market Conditions
NOI Build-Up for 2,150 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
$109.7K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$107.6K $50.03/SF
− OpEx
−$32.3K −$15.01/SF
NOI
$75.3K $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%
$1,505,940
Cap Rate 7%
$1,075,671
Cap Rate 9%
$836,633
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$941.2K – $1.25M
NOI $75,297 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$937.7K
$820.5K – $1.09M
NOI $65,637 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,614 @ 7.0% cap · market cap 5.42%
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
3,643
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Private driveway, detached garage, and outdoor space add practical convenience to this multifamily property.
Where is this duplex located?
The property is located at 1429 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,298,000.
What are key features of this property?
This property features: Fully detached two‑family property on a 0.0918‑acre lot; 2,150 square feet with a three‑bedroom first‑floor layout; Upper apartment configured as a duplex with natural light
