Brick Duplex with Attached
For Sale
$1,080,000
2340 E 29th Street, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,960 SF
Lot Size0.05 Acres
Price / SF$551.02
Days on Market31
Property Features for 2340 E 29th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 1
Parking features
Garage - Attached
Interior features
A/C Unit, A/C Unit - Wall, Dishwasher, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,960 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8141
Amenities
private driveway
attached garage
front yard
backyard
finished basement
separate entrance
Building Details
Year built
1949
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Kelly Wu
(718) 612-3088
Added: Jul 27
Changed: Aug 23
Last Checked: Aug 26 at 8:06AM
MLS# 503323
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.
Built in 1949, this brick duplex contains 1,960 square feet on a 20' x 100' lot, with a 20' x 36' building footprint. The interior includes three bedrooms, two full bathrooms, one half bath, a living room, dining room, kitchen, and finished basement. The basement has a separate entrance, full bath, and flexible recreation or storage area. Hardwood and tile flooring, wall and unit air conditioning, a dishwasher, refrigerator, and stove are included.
Exterior features include a private driveway, attached garage, front yard, backyard, and flat roof. The property is zoned R4 and is located near shopping, restaurants, schools, and public transportation, including the B36, B44, B49, and BM3 bus routes and the B and Q subway lines.
Exterior features include a private driveway, attached garage, front yard, backyard, and flat roof. The property is zoned R4 and is located near shopping, restaurants, schools, and public transportation, including the B36, B44, B49, and BM3 bus routes and the B and Q subway lines.
Key Highlights
- 1,960 square feet on a 0.0459‑acre lot
- 20' x 36' building on a 20' x 100' lot
- Three bedrooms, two full baths, and one half bath
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
$68,643
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
6.36%
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%
$1,372,860
$1.4M
Cap Rate 7%
$980,614
$980.6K
Cap Rate 9%
$762,700
$762.7K
Market Conditions
NOI Build-Up for 1,960 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
$100.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$98.1K $50.03/SF
− OpEx
−$29.4K −$15.01/SF
NOI
$68.6K $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%
$1,372,860
Cap Rate 7%
$980,614
Cap Rate 9%
$762,700
Alternative Uses
Best Use
Multifamily LT 5
$980.6K
$858.0K – $1.14M
NOI $68,643 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$854.8K
$748.0K – $997.3K
NOI $59,837 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,602 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,462
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 residential property with a finished basement, private driveway, and access to neighborhood shopping, dining, schools, and transit.
Where is this duplex located?
The property is located at 2340 E 29th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 1,960 square feet on a 0.0459‑acre lot; 20' x 36' building on a 20' x 100' lot; Three bedrooms, two full baths, and one half bath
