Two-Family Duplex with Finished
For Sale
$1,369,000
2529 E 22nd Street, Brooklyn, NY 11235
Residential Income, Brooklyn, NY
Property Size2,256 SF
Lot Size0.06 Acres
Price / SF$606.83
Days on Market198
Property Features for 2529 E 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 4, Bathroom 5, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
On Street
Basement
Full, Partially Finished
Lot features
Front Yard, Back Yard
Subdivision
Sheepshead Bay
Standard status
Active
APN
07441-0463
Size
2,256 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9030
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Amenities
porch
laundry room
backyard
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Building materials
Aluminum Siding, Stucco
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Cindy C Cheung · License #40CH0915567
(917) 601-2627
Added: Mar 4
Changed: Sep 13
Last Checked: Sep 18 at 3:06AM
MLS# 2601129
Copyright © 2026 Staten Island Board of Realtors. 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 legal two-family duplex contains 2,256 square feet within a 20-by-54-foot house on a 25-by-100-foot lot. Each residence includes a living room and dining area, eat-in kitchen, three bedrooms, and a full bathroom. The partially finished basement adds a family room, full bathroom, open area, laundry, and utilities room, with access to the backyard. Hardwood flooring extends throughout the home, which was built in 1925 and includes aluminum siding and stucco construction.
Both units are currently tenant occupied and will be delivered vacant. The property has an R4 zoning designation, public sewer service, natural-gas hot-water heating, and on-street parking. A shared driveway provides additional site access. The address is near shopping, schools, and public transportation in Brooklyn’s Sheepshead Bay area.
Both units are currently tenant occupied and will be delivered vacant. The property has an R4 zoning designation, public sewer service, natural-gas hot-water heating, and on-street parking. A shared driveway provides additional site access. The address is near shopping, schools, and public transportation in Brooklyn’s Sheepshead Bay area.
Key Highlights
- Legal two‑family property with 2,256 square feet of building area
- 25‑by‑100‑foot lot with a 20‑by‑54‑foot house
- Each unit offers 3 bedrooms, an eat‑in kitchen, living and dining areas, and a full 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
$79,009
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
5.77%
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%
$1,580,180
$1.6M
Cap Rate 7%
$1,128,700
$1.1M
Cap Rate 9%
$877,878
$877.9K
Market Conditions
NOI Build-Up for 2,256 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
$115.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.9K $50.03/SF
− OpEx
−$33.9K −$15.01/SF
NOI
$79.0K $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%
$1,580,180
Cap Rate 7%
$1,128,700
Cap Rate 9%
$877,878
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$987.6K – $1.32M
NOI $79,009 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$983.9K
$860.9K – $1.15M
NOI $68,873 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,758 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,124
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family residence with separate living areas, shared driveway, and a basement containing additional finished space.
Where is this duplex located?
The property is located at 2529 E 22nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Legal two‑family property with 2,256 square feet of building area; 25‑by‑100‑foot lot with a 20‑by‑54‑foot house; Each unit offers 3 bedrooms, an eat‑in kitchen, living and dining areas, and a full bathroom
