Brick Two-Family Duplex with Backyard
For Sale
$1,048,000
2351 E 26th Street E, Brooklyn, NY 11229
MULTI_FAMILY - Brooklyn, NY
Property Size1,890 SF
Lot Size0.05 Acres
Price / SF$554.50
Days on Market85
Property Features for 2351 E 26th Street E
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
Parking features
Garage
Patio and Porch features
Deck
Interior features
A/C Unit - Wall, Alarm, Deck, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Terrace, Washer
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,890 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8250
Amenities
balcony/terrace
backyard
Building Details
Year built
1950
Floors in Building
2
Flooring type
Ceramic, Hardwood
Building materials
Brick
Roof type
Flat, Rubber
Architectural style
Ranch
Listing Agency:
Mill Realty Group Inc.
(718) 266-4030
Listed By:
Lily Milman
(718) 266-4030
Added: Jun 1
Changed: Aug 16
Last Checked: Aug 24 at 6:06PM
MLS# 501886
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-family duplex built in 1950 on a 0.0505-acre lot. The building is approximately 22' x 49' set on a 22' x 100' lot. The first floor features a spacious 1-bedroom apartment with access to the large shared backyard. The second floor offers a custom 2-bedroom apartment with oversized bedrooms, a renovated kitchen and bathroom, and both front and rear balconies/terraces for additional outdoor space.
The home includes a built-in garage and private parking. Interior features include wall A/C, an alarm, and in-unit laundry amenities, along with kitchen appliances and hardwood and ceramic flooring. Exterior surfaces include a deck and terrace elements, and the roof is described as rubber and flat.
Upgrades include an updated boiler and hot water heater (approximately 5 years old). Zoning is R4, and the property is described as being minutes from the B/Q trains at Neck Road and Sheepshead Bay stations, with nearby local and express buses (B36, B44, BM3).
The home includes a built-in garage and private parking. Interior features include wall A/C, an alarm, and in-unit laundry amenities, along with kitchen appliances and hardwood and ceramic flooring. Exterior surfaces include a deck and terrace elements, and the roof is described as rubber and flat.
Upgrades include an updated boiler and hot water heater (approximately 5 years old). Zoning is R4, and the property is described as being minutes from the B/Q trains at Neck Road and Sheepshead Bay stations, with nearby local and express buses (B36, B44, BM3).
Key Highlights
- 22' x 49' building on a 22' x 100' lot on 0.0505 acres
- First‑floor 1‑bedroom apartment with access to the large backyard
- Second‑floor custom 2‑bedroom with renovated kitchen and 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
$66,191
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
6.32%
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%
$1,323,820
$1.3M
Cap Rate 7%
$945,586
$945.6K
Cap Rate 9%
$735,456
$735.5K
Market Conditions
NOI Build-Up for 1,890 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
$96.4K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.6K $50.03/SF
− OpEx
−$28.4K −$15.01/SF
NOI
$66.2K $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%
$1,323,820
Cap Rate 7%
$945,586
Cap Rate 9%
$735,456
Alternative Uses
Best Use
Multifamily LT 5
$945.6K
$827.4K – $1.10M
NOI $66,191 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$824.3K
$721.3K – $961.7K
NOI $57,700 @ 7.0% cap · market cap 5.51%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.83M
NOI $109,544 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,524
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-family duplex offers backyard access, a built-in garage, and front and rear terrace space.
Where is this duplex located?
The property is located at 2351 E 26th Street E Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,048,000.
What are key features of this property?
This property features: 22' x 49' building on a 22' x 100' lot on 0.0505 acres; First‑floor 1‑bedroom apartment with access to the large backyard; Second‑floor custom 2‑bedroom with renovated kitchen and bathroom
