Two-Family Waterfront Residence with Dock
For Sale
$1,880,000
1 Opal Court, Brooklyn, NY 11229
MULTI_FAMILY - Brooklyn, NY
Property Size3,380 SF
Lot Size0.11 Acres
Price / SF$556.21
Days on Market55
Property Features for 1 Opal Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 3, Bathroom 2
Parking features
Garage - Detached
Interior features
Central Air, Dryer, Refrigerator, Stove, Terrace, Washer
Subdivision
Gerritsen Beach
Standard status
Active
Size
3,380 SF
Lot size
0.11 Acres
Amenities
solar-panel roof
central HVAC
waterfront
dock pilings
balcony
laundry area
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Added: Jul 1
Changed: Aug 15
Last Checked: Aug 24 at 4:06PM
MLS# 502694
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.
Under construction for 2026, this detached two-family residence at 1 Opal Court in Brooklyn is being built from the ground up and designed for waterfront living. Set on a 0.1061-acre lot, the three-story home includes central HVAC, a solar-panel roof, and brick construction. The property has about 1,000 feet of private waterfront with existing dock pilings, giving the future owner a foundation to build a private dock.
The layout is planned with multiple living levels and two residences, each featuring outdoor space and laundry areas. A detached two-car garage and a private driveway with extra front parking support daily access. Interior features include tile and hardwood flooring, and an amenity list such as central air, washer, dryer, refrigerator, stove, and terrace space.
Utilities are designed with separate service metering (2 gas and 3 electric meters). The home is identified as under construction, with the current offering describing a move-in-ready completion timeline tied to the 2026 build.
The layout is planned with multiple living levels and two residences, each featuring outdoor space and laundry areas. A detached two-car garage and a private driveway with extra front parking support daily access. Interior features include tile and hardwood flooring, and an amenity list such as central air, washer, dryer, refrigerator, stove, and terrace space.
Utilities are designed with separate service metering (2 gas and 3 electric meters). The home is identified as under construction, with the current offering describing a move-in-ready completion timeline tied to the 2026 build.
Key Highlights
- Under construction for 2026 with brick construction
- About 1,000 feet of private waterfront with existing dock pilings
- Set on a 0.1061‑acre lot
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 - Under-construction 2026 two-family home on a 0.1061-acre lot with about 1,000 feet of private waterfront and dock pilings.
Where is this duplex located?
The property is located at 1 Opal Court 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: Under construction for 2026 with brick construction; About 1,000 feet of private waterfront with existing dock pilings; Set on a 0.1061‑acre lot
