Flatbush Brick Two-Family
For Sale
$899,000
Pending
448 E 29th St, Brooklyn, NY 11226
Two-family brick house with finished basement in Flatbush, vacant.
Property Size3,156 SF
Lot Size0.05 Acres
Days on Market286
Property Features for 448 E 29th St
General Information
Standard status
Pending
Size
3,156 SF
Lot size
0.05 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,685
Building Details
Building Size
3,156 SF
Year Built
1915
Units
2
Listed By:
Sophie Aguilera
(646) 801-7116
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Sep 9 at 11:14AM
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 Sophie Aguilera
Investment Insights
Based on property information with market context.
This is a brick two-family house with a full finished basement. It is located in the Flatbush neighborhood. The property will be delivered vacant across all units.
Key Highlights
- Delivered vacant: seize the opportunity for immediate occupancy or rental income.
- Two‑family brick building: durable construction, potential for multiple income streams.
- Full finished basement: adds significant living space with various possibilities.
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
$80,000
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
8.90%
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%
$1,600,000
$1.6M
Cap Rate 7%
$1,142,857
$1.1M
Cap Rate 9%
$888,889
$888.9K
Market Conditions
NOI Build-Up for 3,156 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
$119.3K $37.80/SF
− Vacancy
−$5.0K −$1.59/SF
EGI
$114.3K $36.21/SF
− OpEx
−$34.3K −$10.86/SF
NOI
$80.0K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /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%
$1,600,000
Cap Rate 7%
$1,142,857
Cap Rate 9%
$888,889
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$1.00M – $1.33M
NOI $80,000 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$1.06M
$924.8K – $1.23M
NOI $73,987 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,193 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-family brick house with finished basement in Flatbush, vacant.
Where is this duplex located?
The property is located at 448 E 29th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Delivered vacant: seize the opportunity for immediate occupancy or rental income.; Two‑family brick building: durable construction, potential for multiple income streams.; Full finished basement: adds significant living space with various possibilities.
