Brick Two-Family
For Sale
$999,999
2464 E 28th Street, Brooklyn, NY 11235
Residential, Brooklyn, NY
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$499
Days on Market156
Property Features for 2464 E 28th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 1
Parking features
Garage
Patio and Porch features
Deck
Interior features
A/C Unit - Wall, Central Air, Deck, Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6459
Amenities
deck
backyard
private garage
Building Details
Year built
1940
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Yu-Fen (Madeline) Chiu
(718) 612-3088
Added: Mar 24
Changed: Aug 23
Last Checked: Aug 26 at 8:06AM
MLS# 499873
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 a 2,000-square-foot, all-brick residential property built in 1940. The first-floor residence includes one bedroom, a living room, a kitchen, and interior access to the basement. Basement space includes a bathroom with shower and can be used for recreation, office, or storage. The upper residence offers three bedrooms, a kitchen, and a full bathroom, with access to a deck and backyard. Central air, wall-mounted A/C, hardwood and tile flooring, and standard kitchen appliances are included.
The property occupies a 0.0457-acre lot in Brooklyn’s 11235 ZIP code. Both residences have access to the backyard, while the site also provides a private garage and parking for two cars. Shopping, dining, and public transportation are located nearby. The property is zoned R4.
The property occupies a 0.0457-acre lot in Brooklyn’s 11235 ZIP code. Both residences have access to the backyard, while the site also provides a private garage and parking for two cars. Shopping, dining, and public transportation are located nearby. The property is zoned R4.
Key Highlights
- 2,000‑square‑foot attached duplex on a 0.0457‑acre lot
- All‑brick construction with 1940 build year
- Two residences with a 1‑bedroom lower unit and 3‑bedroom upper unit
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
$70,043
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
7.00%
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%
$1,400,860
$1.4M
Cap Rate 7%
$1,000,614
$1.0M
Cap Rate 9%
$778,256
$778.3K
Market Conditions
NOI Build-Up for 2,000 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
$102.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.1K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $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%
$1,400,860
Cap Rate 7%
$1,000,614
Cap Rate 9%
$778,256
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.5K – $1.17M
NOI $70,043 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 11.59%
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
4,674
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 residential property with separate living units, outdoor space, garage parking, and R4 zoning.
Where is this duplex located?
The property is located at 2464 E 28th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 2,000‑square‑foot attached duplex on a 0.0457‑acre lot; All‑brick construction with 1940 build year; Two residences with a 1‑bedroom lower unit and 3‑bedroom upper unit
