Updated Duplex with Finished
For Sale
$1,199,888
2462 BRAGG ST., Brooklyn, NY 11235
Residential Income, BROOKLYN, NY
Property Size2,994 SF
Lot Size0.05 Acres
Price / SF$400.76
Days on Market63
Property Features for 2462 BRAGG ST.
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Laundry Room, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 4
Patio and Porch features
Patio, Porch
Fencing
Fenced
Subdivision
Sheepshead Bay
High school district
000000
Standard status
Active
APN
27-000.000-7427-031.000
Size
2,994 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7195
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1955
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Asphalt
Listing Agency:
LOMBARDO HOMES & ESTATES
(516) 200-6448
Listed By:
Joseph Lombardo · License #10311204851
(516) 316-9974
Added: Jul 8
Changed: Sep 4
Last Checked: Sep 8 at 12:06PM
MLS# 11874911
Copyright © 2026 My State MLS. 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 updated kitchens, hardwood flooring, renovated bathrooms with custom Italian stone, natural-gas baseboard heat, and an asphalt roof. Public water and sewer serve the building, while two off-street parking spaces add practical convenience. The home was built in 1955 and includes patio and porch features.
Located in Sheepshead Bay, the property is near the waterfront, restaurants, shopping, public transportation, and other neighborhood services. A tenant is currently in place and willing to remain, providing an existing rental component for an owner-occupant or investor. The attached configuration and separate basement apartment support flexible residential use within the property’s two-family layout.
Located in Sheepshead Bay, the property is near the waterfront, restaurants, shopping, public transportation, and other neighborhood services. A tenant is currently in place and willing to remain, providing an existing rental component for an owner-occupant or investor. The attached configuration and separate basement apartment support flexible residential use within the property’s two-family layout.
Key Highlights
- Attached four‑story duplex includes a fully finished basement with a separate entrance
- Updated kitchens, hardwood flooring, and renovated bathrooms with custom Italian stone
- Natural‑gas baseboard heat, updated mechanical systems, and a new 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
$104,855
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
8.74%
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%
$2,097,100
$2.1M
Cap Rate 7%
$1,497,929
$1.5M
Cap Rate 9%
$1,165,056
$1.2M
Market Conditions
NOI Build-Up for 2,994 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
$152.7K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$149.8K $50.03/SF
− OpEx
−$44.9K −$15.01/SF
NOI
$104.9K $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%
$2,097,100
Cap Rate 7%
$1,497,929
Cap Rate 9%
$1,165,056
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $104,855 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,404 @ 7.0% cap · market cap 7.62%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,532 @ 7.0% cap · market cap 14.46%
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 property includes a separate-entry apartment, updated interiors, public utilities, and two off-street parking spaces.
Where is this duplex located?
The property is located at 2462 BRAGG ST. 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: Attached four‑story duplex includes a fully finished basement with a separate entrance; Updated kitchens, hardwood flooring, and renovated bathrooms with custom Italian stone; Natural‑gas baseboard heat, updated mechanical systems, and a new asphalt roof
