Two-Family Residential Income
For Sale
$1,750,000
Pending
1172 E 28th St, Brooklyn, NY 11210
For sale two-family building positioned for strong everyday access, including high transit and walkability scores.
Property Size2,260 SF
Days on Market102
Property Features for 1172 E 28th St
General Information
Standard status
Pending
Size
2,260 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,535
Building Details
Building Size
2,260 SF
Year Built
1925
Stories
2
Tenancy
Multi
Listing Agency:
Royal York Realty, Inc.
Listed By:
Robert Hofstatter
(718) 998-8800
Source:
Elliman
Added: Jun 3
Changed: Aug 14
Last Checked: Sep 11 at 8:54AM
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 Royal York Realty, Inc.
Investment Insights
Based on property information with market context.
This offering is a two-family residential income property. As listed, it provides a straightforward duplex-style setup for an owner looking to hold income-producing residential units under one roof.
The property is located at 1172 E 28th St in Brooklyn, New York. The listing highlights strong surrounding mobility indicators, including a BikeScore of 66, a WalkScore of 90, and a TransitScore of 97, suggesting convenient connectivity for residents and tenants.
From an ownership perspective, a two-family configuration can appeal to buyers seeking manageable building scope while maintaining separate residential units within the same property. The combination of a residential income format and the noted walk and transit ratings may support tenant interest from households that prioritize access to daily needs and public transportation. This is a for-sale opportunity priced as presented in the listing for qualified buyers interested in purchasing a two-family investment property in Brooklyn.
The property is located at 1172 E 28th St in Brooklyn, New York. The listing highlights strong surrounding mobility indicators, including a BikeScore of 66, a WalkScore of 90, and a TransitScore of 97, suggesting convenient connectivity for residents and tenants.
From an ownership perspective, a two-family configuration can appeal to buyers seeking manageable building scope while maintaining separate residential units within the same property. The combination of a residential income format and the noted walk and transit ratings may support tenant interest from households that prioritize access to daily needs and public transportation. This is a for-sale opportunity priced as presented in the listing for qualified buyers interested in purchasing a two-family investment property in Brooklyn.
Key Highlights
- Two‑family building built in 1925
- BikeScore of 66 (Bikeable)
- WalkScore of 90 (Walker’s Paradise)
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
$79,149
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
4.52%
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%
$1,582,980
$1.6M
Cap Rate 7%
$1,130,700
$1.1M
Cap Rate 9%
$879,433
$879.4K
Market Conditions
NOI Build-Up for 2,260 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
$115.3K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$113.1K $50.03/SF
− OpEx
−$33.9K −$15.01/SF
NOI
$79.1K $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%
$1,582,980
Cap Rate 7%
$1,130,700
Cap Rate 9%
$879,433
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$989.4K – $1.32M
NOI $79,149 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$985.6K
$862.4K – $1.15M
NOI $68,995 @ 7.0% cap · market cap 3.94%
Theoretical Best
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,990 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - For sale two-family building positioned for strong everyday access, including high transit and walkability scores.
Where is this duplex located?
The property is located at 1172 E 28th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Two‑family building built in 1925; BikeScore of 66 (Bikeable); WalkScore of 90 (Walker’s Paradise)
