Semi-Detached Duplex with
For Sale
$899,000
2450 West Street, Brooklyn, NY 11223
Residential, Brooklyn, NY
Property Size1,504 SF
Lot Size0.05 Acres
Price / SF$597.74
Days on Market322
Property Features for 2450 West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5
Basement
Full
Subdivision
Gravesend
Standard status
Active
Size
1,504 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6670
Building Details
Year built
1925
Number of units
2
Flooring type
Hardwood
Building materials
Wood Frame
Listing Agency:
Century 21 Homefront Realty
(718) 252-6060
Listed By:
Delton Cheng · License #31CH0928260
(718) 514-1720
Added: Oct 21, 2025
Changed: Sep 5
Last Checked: Sep 7 at 1:06PM
MLS# 496623
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 semi-detached two-family residence at 2450 West Street includes 1,504 square feet, five bedrooms, and two bathrooms. The wood-frame property was built in 1925 and features hardwood flooring. A semifinished basement provides additional interior space and has its own exterior entrance. The home is being offered in as-is condition.
Both the first- and second-floor units are currently tenant occupied. The property sits on 0.0459 acres in Brooklyn’s Gravesend area, with shopping, schools, and transportation identified nearby. R4 zoning applies to the property.
Both the first- and second-floor units are currently tenant occupied. The property sits on 0.0459 acres in Brooklyn’s Gravesend area, with shopping, schools, and transportation identified nearby. R4 zoning applies to the property.
Key Highlights
- Two‑family semi‑detached residence with 1,504 square feet
- Five bedrooms and two bathrooms
- Semifinished basement with separate exterior entrance
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
$52,673
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
5.86%
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%
$1,053,460
$1.1M
Cap Rate 7%
$752,471
$752.5K
Cap Rate 9%
$585,256
$585.3K
Market Conditions
NOI Build-Up for 1,504 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
$76.7K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$75.2K $50.03/SF
− OpEx
−$22.6K −$15.01/SF
NOI
$52.7K $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%
$1,053,460
Cap Rate 7%
$752,471
Cap Rate 9%
$585,256
Alternative Uses
Best Use
Multifamily LT 5
$752.5K
$658.4K – $877.9K
NOI $52,673 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$655.9K
$574.0K – $765.3K
NOI $45,916 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.45M
NOI $87,172 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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 - R4-zoned residence with hardwood floors, two occupied levels, and a separate outside entrance to the lower level.
Where is this duplex located?
The property is located at 2450 West Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑family semi‑detached residence with 1,504 square feet; Five bedrooms and two bathrooms; Semifinished basement with separate exterior entrance
