Two-Family Residence with Private
For Sale
$1,398,880
Pending
2055 Coleman St, Brooklyn, NY 11234
Detached two-family home with a semi-finished basement, attic, and private driveway plus detached 2-car garage.
Property Size1,920 SF
Days on Market125
Property Features for 2055 Coleman St
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,770
Building Details
Building Size
1,920 SF
Listing Agency:
New World Realty Group LLC
(718) 872-6300
Listed By:
Stephanie Dong Chin
(718) 872-6300
Source:
Elliman
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 29 at 10:00AM
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 New World Realty Group LLC
Investment Insights
Based on property information with market context.
2055 & 2059 Coleman Street presents a two-property package centered on a well-maintained detached two-family home. The building is approximately 24x40 and includes a 2-bedroom layout on the first floor with a spacious living room, dining room, and EIK, along with a modern bath featuring a double vanity. The second floor offers flexible living space with a 1–2 bedroom arrangement, large living room, dining room, and EIK, plus attic storage and a semi-finished basement for additional space.
Set on a combined 60x100 property made up of an original 40x100 lot and an adjoining 20x100 lot, the home features a detached 2-car garage and a large private driveway. Outside, there is an oversized, park-like backyard.
The package is described as being near Marine Park, Snake Park, and the Salt Marsh Nature Center, with easy access to transportation, shops, and dining.
Set on a combined 60x100 property made up of an original 40x100 lot and an adjoining 20x100 lot, the home features a detached 2-car garage and a large private driveway. Outside, there is an oversized, park-like backyard.
The package is described as being near Marine Park, Snake Park, and the Salt Marsh Nature Center, with easy access to transportation, shops, and dining.
Key Highlights
- Two‑property package: 2055 & 2059 Coleman Street, with a combined 60x100 lot (40x100 plus adjoining 20x100).
- Detached 2‑family home with a 24x40 building and first‑floor layout featuring 2 bedrooms plus living room, dining room, and EIK.
- Modern bathroom on first floor with double vanity; bright windowed kitchen; second floor offers flexible 1–2 bedroom layout with living room, dining room, and EIK.
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
$67,242
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
4.81%
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%
$1,344,840
$1.3M
Cap Rate 7%
$960,600
$960.6K
Cap Rate 9%
$747,133
$747.1K
Market Conditions
NOI Build-Up for 1,920 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
$97.9K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$96.1K $50.03/SF
− OpEx
−$28.8K −$15.01/SF
NOI
$67.2K $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%
$1,344,840
Cap Rate 7%
$960,600
Cap Rate 9%
$747,133
Alternative Uses
Best Use
Multifamily LT 5
$960.6K
$840.5K – $1.12M
NOI $67,242 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$837.4K
$732.7K – $976.9K
NOI $58,616 @ 7.0% cap · market cap 4.19%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,283 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Detached two-family home with a semi-finished basement, attic, and private driveway plus detached 2-car garage.
Where is this duplex located?
The property is located at 2055 Coleman St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,398,880.
What are key features of this property?
This property features: Two‑property package: 2055 & 2059 Coleman Street, with a combined 60x100 lot (40x100 plus adjoining 20x100).; Detached 2‑family home with a 24x40 building and first‑floor layout featuring 2 bedrooms plus living room, dining room, and EIK.; Modern bathroom on first floor with double vanity; bright windowed kitchen; second floor offers flexible 1–2 bedroom layout with living room, dining room, and EIK.
