Colonial Duplex With
For Sale
$1,589,888
122 28th Avenue, Brooklyn, NY 11214
MULTI_FAMILY - Colonial - Brooklyn, NY
Property Size3,318 SF
Lot Size0.05 Acres
Price / SF$479.17
Days on Market911
Property Features for 122 28th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-5
Bedrooms
7
Bathrooms
4
Full bathrooms
3
Half bathrooms
2
Rooms
Bathroom 4, Bedroom 2, Bathroom 5, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 7
Parking features
Off Street
Basement
Full, Unfinished
Lot features
Back Yard
Subdivision
Bath Beach
Standard status
Active
APN
06915-0019
Size
3,318 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10834
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Amenities
skylights
attic
terrace
hardwood floors
Building Details
Year built
1965
Floors in Building
3
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Monique P Tufano · License #MT0132
(917) 509-0624
Added: Feb 23, 2024
Changed: Aug 2
Last Checked: Aug 22 at 10:06AM
MLS# 2400994
Copyright © 2026 Staten Island Board of Realtors. 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 brick Colonial duplex at 122 28th Avenue offers a split-level layout across three levels plus ground-level bonus space. The home totals seven bedrooms, with a second-level main unit described as a nine-room, four-bedroom split level featuring two bathrooms (full and half in the primary bedroom) and access to an unfinished basement and garage. The third-floor apartment is described as a three-bedroom unit with skylights and two bathrooms (full and half in the primary bedroom), with additional attic storage.
Ground level includes split-level bonus rooms and a full bath, along with a door leading to the ground floor bonus rooms. The second-level front door provides access through the main house living/dining, kitchen, bedroom and bathroom areas, and a door to the yard. The third-level front door includes a living/dining combo, a kitchen with skylight, a front bedroom with a door to a terrace, and other bedroom features described with skylights.
The property sits on a 0.0466-acre lot with 3,318 square feet and was built in 1965. Heating is hot water with natural gas. Utilities include public sewer, and the home has W/D hook up and off-street parking. Sold as is.
Ground level includes split-level bonus rooms and a full bath, along with a door leading to the ground floor bonus rooms. The second-level front door provides access through the main house living/dining, kitchen, bedroom and bathroom areas, and a door to the yard. The third-level front door includes a living/dining combo, a kitchen with skylight, a front bedroom with a door to a terrace, and other bedroom features described with skylights.
The property sits on a 0.0466-acre lot with 3,318 square feet and was built in 1965. Heating is hot water with natural gas. Utilities include public sewer, and the home has W/D hook up and off-street parking. Sold as is.
Key Highlights
- R‑5 zoned two‑family duplex with seven bedrooms
- 0.0466‑acre lot and 3,318 SF total size
- Built in 1965 brick Colonial architecture
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
$90,498
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
5.69%
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%
$1,809,960
$1.8M
Cap Rate 7%
$1,292,829
$1.3M
Cap Rate 9%
$1,005,533
$1.0M
Market Conditions
NOI Build-Up for 3,318 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
$135.4K $40.80/SF
− Vacancy
−$6.1K −$1.84/SF
EGI
$129.3K $38.96/SF
− OpEx
−$38.8K −$11.69/SF
NOI
$90.5K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,809,960
Cap Rate 7%
$1,292,829
Cap Rate 9%
$1,005,533
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,498 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,107 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,489 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - Two-family, R-5 zoned brick Colonial with off-street parking, unfinished basement access, and multiple split-level bonus rooms.
Where is this duplex located?
The property is located at 122 28th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,589,888.
What are key features of this property?
This property features: R‑5 zoned two‑family duplex with seven bedrooms; 0.0466‑acre lot and 3,318 SF total size; Built in 1965 brick Colonial architecture
