Semi-Attached Duplex with Basement
515 E 40th Street Brooklyn, NY 11203
515 E 40th Street, Brooklyn, NY, 11203
$669,000
For Sale
$669,000
SINGLE_FAMILY - Brooklyn, NY
Property Size1,264 SF
Lot Size0.05 Acres
Price / SF$529.27
Days on Market377
Property Features for 515 E 40th Street
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Zoning
- R4
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
- Patio and Porch features
- Patio, Porch
- Interior features
- A/C Unit - Window, Laundry Area, Microwave, Patio Garden, Porch, Refrigerator, Stove
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 1,264 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5378
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Flooring type
- Tile, Hardwood
- Building materials
- Wood Frame
- Architectural style
- Other
Listing agency
Century 21 Achievers
(718) 758-0600
Listed by
Andre Hanniford
(718) 758-0600
Added: Jul 10, 2025 Updated: Jul 11 at 6:35PM Checked: Jul 21 at 5:06PM
MLS# 494102
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 semi-attached 3-bedroom duplex is presented as a one-family home and features a full finished basement with a separate entrance. The property includes a fully fenced backyard with a utility shed, and it is equipped with a new boiler and water heater. Additional highlights include active solar panels attached to the roof, lots of windows for natural light, and ample closet space.
Set under R4 zoning, the home is located in East Flatbush and is described as being close to shops, parks, and public transportation.
With its basement configuration and separate entrance, the layout supports flexible day-to-day use while maintaining a clear primary living space above.
Set under R4 zoning, the home is located in East Flatbush and is described as being close to shops, parks, and public transportation.
With its basement configuration and separate entrance, the layout supports flexible day-to-day use while maintaining a clear primary living space above.
Key Highlights
- Semi‑attached 3‑bedroom duplex with a full finished basement and separate entrance
- Fully fenced backyard with a utility shed
- Active solar panels attached to the roof
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.5k | $51.00 |
| − Vacancy | −$1.2k | −$0.97 |
| EGI | $63.2k | $50.03 |
| − OpEx | −$19.0k | −$15.01 |
| NOI | $44.3k | $35.02 |
1,264 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$632.4K
$553.3K – $737.8K
NOI $44,267 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$551.3K
$482.4K – $643.2K
NOI $38,589 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$1.05M
$915.8K – $1.22M
NOI $73,261 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Semi-attached 3-bedroom duplex includes a full finished basement with a separate entrance, plus fenced backyard and active solar panels.
Where is this duplex located?
The property is located at 515 E 40th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Semi‑attached 3‑bedroom duplex with a full finished basement and separate entrance; Fully fenced backyard with a utility shed; Active solar panels attached to the roof
