Brick Duplex With Finished
For Sale
$788,000
2529 Mill Avenue, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size1,339 SF
Lot Size0.04 Acres
Price / SF$588.50
Days on Market126
Property Features for 2529 Mill Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R5
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 1
Interior features
A/C Unit - Wall, Central Air - Split, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Basement
Full, Finished
Subdivision
Mill Basin
Standard status
Active
Size
1,339 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6080
Building Details
Year built
1960
Floors in Building
2
Flooring type
Hardwood, Ceramic
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Talk of the Town Realty Corp.
(718) 251-7400
Listed By:
Keren Shalmoni
(718) 251-7400
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 4:06PM
MLS# 500897
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 1,339-square-foot brick duplex was built in 1960 and includes three bedrooms, three bathrooms, hardwood and ceramic flooring, and a finished basement with its own rear entry. The property also features a renovated kitchen with granite countertops and stainless steel appliances, along with laundry equipment, a dishwasher, microwave, refrigerator, and stove. Central air and wall-mounted A/C units are listed among the interior improvements.
The 0.0436-acre property is located at 2529 Mill Avenue in Brooklyn, NY 11234 and is zoned R5. Private parking accommodates two cars. Additional features include a flat roof, storage closets, a living and dining area with sliding-door access to the backyard, and a bathroom on each floor.
The 0.0436-acre property is located at 2529 Mill Avenue in Brooklyn, NY 11234 and is zoned R5. Private parking accommodates two cars. Additional features include a flat roof, storage closets, a living and dining area with sliding-door access to the backyard, and a bathroom on each floor.
Key Highlights
- 1,339‑square‑foot brick duplex built in 1960
- Three bedrooms and three bathrooms across the residence
- Finished basement with bathroom and separate rear 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
$46,894
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
5.95%
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%
$937,880
$937.9K
Cap Rate 7%
$669,914
$669.9K
Cap Rate 9%
$521,044
$521.0K
Market Conditions
NOI Build-Up for 1,339 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
$68.3K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$67.0K $50.03/SF
− OpEx
−$20.1K −$15.01/SF
NOI
$46.9K $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%
$937,880
Cap Rate 7%
$669,914
Cap Rate 9%
$521,044
Alternative Uses
Best Use
Multifamily LT 5
$669.9K
$586.2K – $781.6K
NOI $46,894 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$584.0K
$511.0K – $681.3K
NOI $40,878 @ 7.0% cap · market cap 5.19%
Theoretical Best
Specialty Retail
$1.11M
$970.1K – $1.29M
NOI $77,608 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Brick duplex offering a finished lower level, private parking, and a renovated kitchen with stainless steel appliances.
Where is this duplex located?
The property is located at 2529 Mill Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $788,000.
What are key features of this property?
This property features: 1,339‑square‑foot brick duplex built in 1960; Three bedrooms and three bathrooms across the residence; Finished basement with bathroom and separate rear entrance
