Brick Duplex with Detached
For Sale
$850,000
2066 E 28th Street, Brooklyn, NY 11234
Residential, Duplex - Reversed, Brooklyn, NY
Property Size1,785 SF
Lot Size0.04 Acres
Price / SF$476.19
Days on Market23
Property Features for 2066 E 28th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Subdivision
Madison
Standard status
Active
Size
1,785 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7350
Amenities
backyard
detached garage
community driveway
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Bergen Basin Realty LLC
(718) 787-4110
Listed By:
Lee S Wasserman
(718) 763-4110
Added: Aug 19
Changed: Sep 5
Last Checked: Sep 10 at 6:06AM
MLS# 503851
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 1930 brick duplex contains 1,785 square feet across two residential units. The upper apartment offers one bedroom, one bathroom, hardwood flooring, and a modern kitchen with a refrigerator and stove. The owner’s residence is arranged as a three-bedroom reverse duplex with one full bathroom, an open ground-floor layout, and direct access to the backyard. Hardwood and tile flooring, updated mechanicals, substantial storage, and a detached garage add practical utility. The property also includes a flat roof and community driveway.
Located in Brooklyn’s Madison/Sheepshead Bay section, the property is near shopping, schools, houses of worship, the B3 bus line, and the B and Q train service at the East 15th Street and Avenue U station. R4 zoning is reported for the property.
Located in Brooklyn’s Madison/Sheepshead Bay section, the property is near shopping, schools, houses of worship, the B3 bus line, and the B and Q train service at the East 15th Street and Avenue U station. R4 zoning is reported for the property.
Key Highlights
- 1,785‑square‑foot brick duplex built in 1930
- Upper unit has 1 bedroom, 1 bathroom, hardwood floors, and a modern kitchen
- Three‑bedroom reverse duplex with 1 full bathroom
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
$62,514
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
7.35%
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%
$1,250,280
$1.3M
Cap Rate 7%
$893,057
$893.1K
Cap Rate 9%
$694,600
$694.6K
Market Conditions
NOI Build-Up for 1,785 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
$91.0K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$89.3K $50.03/SF
− OpEx
−$26.8K −$15.01/SF
NOI
$62.5K $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%
$1,250,280
Cap Rate 7%
$893,057
Cap Rate 9%
$694,600
Alternative Uses
Best Use
Multifamily LT 5
$893.1K
$781.4K – $1.04M
NOI $62,514 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$778.5K
$681.2K – $908.2K
NOI $54,494 @ 7.0% cap · market cap 6.41%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,459 @ 7.0% cap · market cap 12.17%
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
3,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 feature updated mechanicals, backyard access, and separate living configurations.
Where is this duplex located?
The property is located at 2066 E 28th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1,785‑square‑foot brick duplex built in 1930; Upper unit has 1 bedroom, 1 bathroom, hardwood floors, and a modern kitchen; Three‑bedroom reverse duplex with 1 full bathroom
