Updated Duplex with Finished
For Sale
$1,199,888
2462 Bragg Street, Brooklyn, NY 11235
Residential, Duplex, Brooklyn, NY
Property Size2,244 SF
Lot Size0.05 Acres
Price / SF$534.71
Days on Market57
Property Features for 2462 Bragg Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R3-2
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 2
Patio and Porch features
Porch
Interior features
A/C Unit, Central Air, Dishwasher, Disposal, Dryer, Microwave, Porch, Refrigerator, Stove, Washer
Basement
Full, Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,244 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7194
Building Details
Year built
1955
Floors in Building
3
Number of units
3
Flooring type
Ceramic, Hardwood, Tile
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Lombardo Homes & Estates
(516) 200-6448
Listed By:
Joseph Lombardo · License #10311204851
(516) 316-9974
Added: Jul 14
Changed: Sep 5
Last Checked: Sep 8 at 9:06AM
MLS# 502922
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 attached duplex is arranged across four stories, including a fully finished basement with its own entrance and an additional apartment. The property includes four bathrooms, updated kitchens, hardwood flooring, renovated bathrooms with custom Italian stone, ceramic and tile finishes, central air, and a porch. Major improvements include new baseboard heat using natural gas, an updated furnace, a hot water heater, and an asphalt roof. The brick building was constructed in 1955.
The property occupies 0.0459 acres and provides two off-street parking spaces, public water, and public sewer. R3-2 zoning supports its residential duplex classification. The address is in Brooklyn’s 11235 postal area, near the Sheepshead Bay waterfront, restaurants, shopping, public transportation, and neighborhood services.
The property occupies 0.0459 acres and provides two off-street parking spaces, public water, and public sewer. R3-2 zoning supports its residential duplex classification. The address is in Brooklyn’s 11235 postal area, near the Sheepshead Bay waterfront, restaurants, shopping, public transportation, and neighborhood services.
Key Highlights
- Four‑story attached duplex includes a fully finished basement with separate entrance
- Four bathrooms and updated kitchens, flooring, and bathrooms with custom Italian stone
- New baseboard heat with natural gas, updated furnace, hot water heater, and asphalt roof
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
$78,589
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
6.55%
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%
$1,571,780
$1.6M
Cap Rate 7%
$1,122,700
$1.1M
Cap Rate 9%
$873,211
$873.2K
Market Conditions
NOI Build-Up for 2,244 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
$114.4K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.3K $50.03/SF
− OpEx
−$33.7K −$15.01/SF
NOI
$78.6K $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%
$1,571,780
Cap Rate 7%
$1,122,700
Cap Rate 9%
$873,211
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$982.4K – $1.31M
NOI $78,589 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$978.7K
$856.3K – $1.14M
NOI $68,507 @ 7.0% cap · market cap 5.71%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,062 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Attached four-story residence with separate-entry basement apartment, renovated interiors, off-street parking, and public utilities.
Where is this duplex located?
The property is located at 2462 Bragg Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,888.
What are key features of this property?
This property features: Four‑story attached duplex includes a fully finished basement with separate entrance; Four bathrooms and updated kitchens, flooring, and bathrooms with custom Italian stone; New baseboard heat with natural gas, updated furnace, hot water heater, and asphalt roof
