Renovated Two-Family
For Sale
$2,795,000
10 Seeley Street, Brooklyn, NY 11218
Gut-renovated duplex with a three-bedroom owner’s residence, separate two-bedroom apartment, private outdoor space, and custom finishes.
Property Size3,000 SF
Price / SF$931.67
Days on Market8
Property Features for 10 Seeley Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,575
Building Details
Building Size
3,000 SF
Year Built
1901
Listing Agency:
Compass
Listed By:
Tali Berzak · License #10301209148
(917) 246-8581
Source:
Penrealty
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 21 at 7:23AM
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 Compass
Investment Insights
Based on property information with market context.
This 3,000-square-foot, three-story duplex was built in 1901 and has undergone a gut renovation. The property combines a three-bedroom owner’s duplex with a separate two-bedroom apartment, totaling five bedrooms and four and a half bathrooms. The main residence includes an open living and dining level, custom oak cabinetry, integrated Thermador appliances, a waterfall island, two powder rooms, a primary suite, a marble en-suite bath, and in-unit laundry. The lower apartment has its own kitchen, two full bathrooms, laundry, multiple closets, and direct access to the yard.
Outdoor features include a covered entry porch, rear deck, private garden, and a balcony serving one of the upper-level bedrooms. Interior details include white oak herringbone flooring, exposed brick, a bay window, custom millwork, a wet bar, wine refrigerator, and French doors. The property is near dining and cafés along Prospect Park West, Fort Hamilton Parkway, and Prospect Avenue, with Prospect Park, subway service, and major thoroughfares nearby.
Outdoor features include a covered entry porch, rear deck, private garden, and a balcony serving one of the upper-level bedrooms. Interior details include white oak herringbone flooring, exposed brick, a bay window, custom millwork, a wet bar, wine refrigerator, and French doors. The property is near dining and cafés along Prospect Park West, Fort Hamilton Parkway, and Prospect Avenue, with Prospect Park, subway service, and major thoroughfares nearby.
Key Highlights
- 3,000‑square‑foot, three‑story duplex built in 1901
- Gut‑renovated two‑family configuration with a 3‑bedroom owner’s duplex and 2‑bedroom apartment
- Five bedrooms and four and a half bathrooms across both residences
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
$105,065
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
3.76%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 3.28%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,094
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Gut-renovated duplex with a three-bedroom owner’s residence, separate two-bedroom apartment, private outdoor space, and custom finishes.
Where is this duplex located?
The property is located at 10 Seeley Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 3,000‑square‑foot, three‑story duplex built in 1901; Gut‑renovated two‑family configuration with a 3‑bedroom owner’s duplex and 2‑bedroom apartment; Five bedrooms and four and a half bathrooms across both residences
