Oversized Two-Family Home with
For Sale
$2,600,000
1655 W 12th Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size2,400 SF
Lot Size0.07 Acres
Price / SF$1,083
Days on Market91
Property Features for 1655 W 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1
Interior features
A/C Unit, A/C Unit - Wall, A/C Unit - Window, Dryer, Laundry Area, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,400 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10067
Amenities
interior light well
built-in rear garage
private driveway
enclosed backyard
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Masonry
Listing Agency:
Kmax Realty Inc
(929) 456-3987
Listed By:
Siu Wai Raymond Cheung
(646) 580-3212
Added: May 18
Changed: Aug 4
Last Checked: Aug 16 at 11:06AM
MLS# 501383
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 oversized brick two-family home, situated on a 32.5' x 100' lot, offers a rare opportunity in Brooklyn. The property measures 20' x 63' and features a thoughtfully designed interior light well, bringing abundant natural light into the center of the home. The second floor has a 5-bedroom layout, offering excellent potential to maximize both property value and rental income. The first floor includes a spacious living room, 3 bedrooms, a dining area, and hardwood and tile flooring throughout. The finished lower level offers a private front entrance as well as a separate side entrance, 2 bathrooms, and versatile open space suitable for a variety of uses. A standout feature is the built-in rear garage, currently being used as an entertainment room, along with a private driveway. Additional highlights include a sizable enclosed backyard. The property is conveniently located just minutes from the N train at Kings Highway Station and also close to the F and D subway lines. The property can be delivered vacant, or the current tenant may be retained. The property is suitable for those looking to live in one unit while offsetting their mortgage with rental income, or seeking a strong long-term investment opportunity.
Key Highlights
- Two‑family brick/masonry home built in 1920 with enclosed backyard and private driveway
- Oversized footprint: 20' x 63' building on a 32.5' x 100' lot
- Second floor offers a 5‑bedroom layout
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
$84,052
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
3.23%
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%
$1,681,040
$1.7M
Cap Rate 7%
$1,200,743
$1.2M
Cap Rate 9%
$933,911
$933.9K
Market Conditions
NOI Build-Up for 2,400 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
$122.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.1K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$84.1K $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%
$1,681,040
Cap Rate 7%
$1,200,743
Cap Rate 9%
$933,911
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 2.82%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,191
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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 - Spacious Brooklyn two-family home with unique light well feature.
Where is this duplex located?
The property is located at 1655 W 12th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Two‑family brick/masonry home built in 1920 with enclosed backyard and private driveway; Oversized footprint: 20' x 63' building on a 32.5' x 100' lot; Second floor offers a 5‑bedroom layout
