Two-Family Brick Duplex with
For Sale
$1,795,000
211 29th Street, Brooklyn, NY 11232
MULTI_FAMILY - Brooklyn, NY
Property Size2,310 SF
Lot Size0.04 Acres
Price / SF$777.06
Days on Market117
Property Features for 211 29th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
4
Bathrooms
3
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Parking features
Garage
Patio and Porch features
Deck
Interior features
A/C Unit - Window, Deck, Dishwasher, Laundry Area
Basement
Finished
Subdivision
Greenwood Heights
Standard status
Active
Size
2,310 SF
Lot size
0.04 Acres
Building Details
Year built
1905
Floors in Building
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber, Flat
Listing Agency:
Bellmarc
(718) 768-4500
Listed By:
Ali Tom · License #AT7155
(718) 768-4500
Added: Apr 16
Changed: Aug 3
Last Checked: Aug 10 at 10:06AM
MLS# 500546
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.
Three-level two-family brick duplex with a parlor floor, a light-filled top level, and a ground/lower level expansion space. The parlor floor features a spacious living room, two bedrooms (or one bedroom with office), one full bath, and a full eat-in kitchen. From the kitchen, step out to the rear deck with garden access below. The top level includes a living room, eat-in kitchen, two generously sized bedrooms, a separate office space, a full bathroom, a linen closet, and a skylight above the staircase.
The ground/lower level is well suited for entertaining or flexible use, with large windows and a separate front entrance from the street. It offers a bathroom, laundry room, and a mechanical room with access to the rear garden.
Additional details include 2,310 SF, a 0.0413-acre lot, and a 1905 construction date. Interior features include window A/C, dishwasher, and laundry area, with hardwood and tile flooring. The roof is listed as flat with rubber material, and parking is provided via a garage. Zoning is R6B, and future expansion is noted as possible with unused FAR.
The ground/lower level is well suited for entertaining or flexible use, with large windows and a separate front entrance from the street. It offers a bathroom, laundry room, and a mechanical room with access to the rear garden.
Additional details include 2,310 SF, a 0.0413-acre lot, and a 1905 construction date. Interior features include window A/C, dishwasher, and laundry area, with hardwood and tile flooring. The roof is listed as flat with rubber material, and parking is provided via a garage. Zoning is R6B, and future expansion is noted as possible with unused FAR.
Key Highlights
- 0.0413‑acre lot with 2,310 SF two‑family brick duplex
- Rear deck with garden access below
- Ground/lower level with separate front entrance and large windows
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
$80,900
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
4.51%
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%
$1,618,000
$1.6M
Cap Rate 7%
$1,155,714
$1.2M
Cap Rate 9%
$898,889
$898.9K
Market Conditions
NOI Build-Up for 2,310 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
$117.8K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$115.6K $50.03/SF
− OpEx
−$34.7K −$15.01/SF
NOI
$80.9K $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%
$1,618,000
Cap Rate 7%
$1,155,714
Cap Rate 9%
$898,889
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,900 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$1.01M
$881.5K – $1.18M
NOI $70,522 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,888 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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 - Three-level two-family brick duplex with a rear deck, garden access, and garage parking, zoned R6B.
Where is this duplex located?
The property is located at 211 29th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 0.0413‑acre lot with 2,310 SF two‑family brick duplex; Rear deck with garden access below; Ground/lower level with separate front entrance and large windows
