Waterfront New Construction
For Sale
$1,880,000
1 Opal Ct, Brooklyn, NY 11229
Detached two-family residence with private boating access, panoramic water views, separate utilities, and energy-efficient systems.
Property Size3,380 SF
Lot Size0.11 Acres
Days on Market67
Property Features for 1 Opal Ct
General Information
Standard status
Active
Size
3,380 SF
Lot size
0.11 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
3,380 SF
Year Built
2026
Buildings
1
Stories
3
Listing Agency:
RE/MAX Edge
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Elliman
Added: Jul 5
Changed: Aug 29
Last Checked: Sep 8 at 8:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Edge
Investment Insights
Based on property information with market context.
Completed in 2026, this detached duplex pairs two three-bedroom residences with contemporary construction and direct waterfront exposure. The three-story layout includes a high-ceiling lower level with utility space, a three-bedroom second-floor home with a waterfront balcony, designer kitchen, primary suite, walk-in closet, spa-style bath, and laundry area, plus an upper residence with two full baths, a second laundry area, and a large L-shaped balcony. A detached two-car garage, private driveway, additional front parking, solar-panel roof, central HVAC, and high-efficiency mechanical systems complete the property.
The residence occupies a 4,622 sq. ft. lot and includes approximately 1,000 feet of private waterfront with existing dock pilings for a future private dock. The included boat adds to the property’s boating function. Separate utilities comprise 2 gas and 3 electric meters. The property is at 1 Opal Ct, Brooklyn, NY 11229, with access to Manhattan, major highways, shopping, and dining. Walk Score is 85, Transit Score is 79, and bikeScore is 71.
The residence occupies a 4,622 sq. ft. lot and includes approximately 1,000 feet of private waterfront with existing dock pilings for a future private dock. The included boat adds to the property’s boating function. Separate utilities comprise 2 gas and 3 electric meters. The property is at 1 Opal Ct, Brooklyn, NY 11229, with access to Manhattan, major highways, shopping, and dining. Walk Score is 85, Transit Score is 79, and bikeScore is 71.
Key Highlights
- Duplex completed in 2026 with two three‑bedroom residences
- Approximately 1,000 feet of private waterfront with existing dock pilings
- Boat included with sale; future private dock can be built
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
$118,373
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
6.30%
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%
$2,367,460
$2.4M
Cap Rate 7%
$1,691,043
$1.7M
Cap Rate 9%
$1,315,256
$1.3M
Market Conditions
NOI Build-Up for 3,380 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
$172.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$169.1K $50.03/SF
− OpEx
−$50.7K −$15.01/SF
NOI
$118.4K $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%
$2,367,460
Cap Rate 7%
$1,691,043
Cap Rate 9%
$1,315,256
Alternative Uses
Best Use
Multifamily LT 5
$1.69M
$1.48M – $1.97M
NOI $118,373 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $103,188 @ 7.0% cap · market cap 5.49%
Theoretical Best
Specialty Retail
$2.80M
$2.45M – $3.27M
NOI $195,905 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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 - Detached two-family residence with private boating access, panoramic water views, separate utilities, and energy-efficient systems.
Where is this duplex located?
The property is located at 1 Opal Ct Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: Duplex completed in 2026 with two three‑bedroom residences; Approximately 1,000 feet of private waterfront with existing dock pilings; Boat included with sale; future private dock can be built
