Two-Unit Brick Duplex with Attached
For Sale
$749,000
2180 E 16th Street, Brooklyn, NY 11229
MULTI_FAMILY - Brooklyn, NY
Property Size1,568 SF
Lot Size0.04 Acres
Price / SF$477.68
Days on Market24
Property Features for 2180 E 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
r5
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Parking features
Garage - Attached
Patio and Porch features
Deck
Interior features
A/C Unit - Wall, Deck, Refrigerator
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,568 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
8455
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Ranch
Listing Agency:
Pride Estates
(718) 569-2888
Listed By:
Danny D. Chung
(718) 569-2888
Added: Jul 20
Changed: Aug 3
Last Checked: Aug 12 at 2:06PM
MLS# 503147
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.
Brick two-unit duplex featuring two separate residences within a ranch-style structure built in 1925. The top floor unit offers two bedrooms, one bathroom, a living room, dining area, and kitchen. The bottom floor unit includes one bedroom, one bathroom, a living room, and kitchen. The home has two electric meters and two gas meters for separate utilities. Interior finishes include hardwood and tile flooring, and in-unit A/C wall unit, along with a refrigerator. A deck and attached garage support day-to-day use.
Set on a 0.0374-acre lot, the property is zoned R5 and has a flat roof. Parking is provided via an attached garage and a private driveway. The home is described as located in Sheepshead Bay and positioned minutes from the subway, with nearby shopping, restaurants, places of worship, parks, schools, and easy access to Avenue U.
With a total building size of 1,568 square feet and a two-unit layout, this duplex can appeal to owner-occupants or tenants seeking a split configuration with separate utility metering.
Set on a 0.0374-acre lot, the property is zoned R5 and has a flat roof. Parking is provided via an attached garage and a private driveway. The home is described as located in Sheepshead Bay and positioned minutes from the subway, with nearby shopping, restaurants, places of worship, parks, schools, and easy access to Avenue U.
With a total building size of 1,568 square feet and a two-unit layout, this duplex can appeal to owner-occupants or tenants seeking a split configuration with separate utility metering.
Key Highlights
- 0.0374‑acre lot with 1,568 SF building size
- Top unit: 2 bedrooms, 1 bathroom with living room, dining area, and kitchen
- Bottom unit: 1 bedroom, 1 bathroom with living room and kitchen
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
$54,914
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
7.33%
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%
$1,098,280
$1.1M
Cap Rate 7%
$784,486
$784.5K
Cap Rate 9%
$610,156
$610.2K
Market Conditions
NOI Build-Up for 1,568 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
$80.0K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$78.4K $50.03/SF
− OpEx
−$23.5K −$15.01/SF
NOI
$54.9K $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%
$1,098,280
Cap Rate 7%
$784,486
Cap Rate 9%
$610,156
Alternative Uses
Best Use
Multifamily LT 5
$784.5K
$686.4K – $915.2K
NOI $54,914 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$683.8K
$598.4K – $797.8K
NOI $47,869 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.51M
NOI $90,881 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,280
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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 - Brick two-unit home with private driveway, attached garage, and deck, built in 1925.
Where is this duplex located?
The property is located at 2180 E 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 0.0374‑acre lot with 1,568 SF building size; Top unit: 2 bedrooms, 1 bathroom with living room, dining area, and kitchen; Bottom unit: 1 bedroom, 1 bathroom with living room and kitchen
