Two-Family Brick
For Sale
$1,150,000
168 28th Avenue, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size1,880 SF
Lot Size0.04 Acres
Price / SF$611.70
Days on Market80
Property Features for 168 28th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Interior features
Microwave, Refrigerator, Stove
Subdivision
Bath Beach
Standard status
Active
Size
1,880 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6093
Building Details
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Ashford Homes LLC
Listed By:
Njoek Kong Tjon · License #10401380276
(929) 364-1301
Added: Jun 22
Changed: Sep 6
Last Checked: Sep 9 at 1:06PM
MLS# 502493
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 1,880-square-foot duplex is configured as a two-family residence, with a four-bedroom apartment above a separate two-bedroom unit. Brick construction, hardwood flooring, asphalt roofing, and four bathrooms define the physical improvements. The kitchens include a microwave, refrigerator, and stove.
The property is located at 168 28th Avenue in Brooklyn’s Bath Beach neighborhood. Public transportation and nearby train lines provide access throughout Brooklyn and Manhattan. Coney Island’s beaches, boardwalk, dining, entertainment, and seasonal events are also nearby, along with shopping, schools, parks, and everyday conveniences.
The property is located at 168 28th Avenue in Brooklyn’s Bath Beach neighborhood. Public transportation and nearby train lines provide access throughout Brooklyn and Manhattan. Coney Island’s beaches, boardwalk, dining, entertainment, and seasonal events are also nearby, along with shopping, schools, parks, and everyday conveniences.
Key Highlights
- Two‑family duplex with 1,880 square feet of building area
- Four‑bedroom apartment over a separate two‑bedroom unit
- Brick construction with hardwood flooring
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
$51,277
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
4.46%
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%
$1,025,540
$1.0M
Cap Rate 7%
$732,529
$732.5K
Cap Rate 9%
$569,744
$569.7K
Market Conditions
NOI Build-Up for 1,880 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
$76.7K $40.80/SF
− Vacancy
−$3.5K −$1.84/SF
EGI
$73.3K $38.96/SF
− OpEx
−$22.0K −$11.69/SF
NOI
$51.3K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,025,540
Cap Rate 7%
$732,529
Cap Rate 9%
$569,744
Alternative Uses
Best Use
Multifamily LT 5
$732.5K
$641.0K – $854.6K
NOI $51,277 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$656.5K
$574.5K – $765.9K
NOI $45,956 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,769 @ 7.0% cap · market cap 6.68%
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
1,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
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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 - Two residential units offer a four-bedroom layout over a separate two-bedroom apartment.
Where is this duplex located?
The property is located at 168 28th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑family duplex with 1,880 square feet of building area; Four‑bedroom apartment over a separate two‑bedroom unit; Brick construction with hardwood flooring
