Detached Duplex with
For Sale
$1,900,000
2669 E 22nd Street, Brooklyn, NY 11235
Residential Income, Brooklyn, NY
Property Size2,520 SF
Lot Size0.10 Acres
Price / SF$753.97
Days on Market360
Property Features for 2669 E 22nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2
Subdivision
Sheepshead Bay
Standard status
Active
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
3707
Utilities
Heating system
Natural Gas
Amenities
porch
patio
laundry area
deck
fireplace
Building Details
Year built
1930
Listing Agency:
BURNS ISRAEL A
(347) 709-2491
Listed By:
Israel Burns
(347) 834-0902
Added: Sep 15, 2025
Changed: Sep 4
Last Checked: Sep 9 at 8:06AM
MLS# 11574892
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 detached duplex-style residence in Brooklyn offers 2,520 sq. ft. of living space with 3 bedrooms and 2 full bathrooms. The layout includes multiple levels, a finished full basement, laundry area, porch, patio, deck, and fireplace. Parquet, tile, and carpet flooring are used throughout. A poured concrete foundation, pitched roof, natural-gas heating system, and 220V electrical service with circuit breakers are also in place.
The property occupies a 60' x 75' lot totaling 4,500 sq. ft. Exterior improvements include a private driveway, 4-car detached garage, and fenced front, side, and rear yards. Located in Sheepshead Bay near piers, shopping, dining, schools, parks, waterfront amenities, and transportation, the property is zoned R4 and was built in 1930.
The property occupies a 60' x 75' lot totaling 4,500 sq. ft. Exterior improvements include a private driveway, 4-car detached garage, and fenced front, side, and rear yards. Located in Sheepshead Bay near piers, shopping, dining, schools, parks, waterfront amenities, and transportation, the property is zoned R4 and was built in 1930.
Key Highlights
- 2,520 sq. ft. detached duplex‑style residence with 3 bedrooms and 2 full bathrooms
- 60' x 75' lot totaling 4,500 sq. ft.
- Finished full basement with laundry area
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
$88,255
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
4.65%
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%
$1,765,100
$1.8M
Cap Rate 7%
$1,260,786
$1.3M
Cap Rate 9%
$980,611
$980.6K
Market Conditions
NOI Build-Up for 2,520 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
$128.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$126.1K $50.03/SF
− OpEx
−$37.8K −$15.01/SF
NOI
$88.3K $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%
$1,765,100
Cap Rate 7%
$1,260,786
Cap Rate 9%
$980,611
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,255 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$1.10M
$961.7K – $1.28M
NOI $76,933 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$2.09M
$1.83M – $2.43M
NOI $146,059 @ 7.0% cap · market cap 7.69%
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
4,113
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 - R4-zoned residential property with a finished basement, private driveway, fenced yards, and multiple outdoor living areas.
Where is this duplex located?
The property is located at 2669 E 22nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 2,520 sq. ft. detached duplex‑style residence with 3 bedrooms and 2 full bathrooms; 60' x 75' lot totaling 4,500 sq. ft.; Finished full basement with laundry area
