Two-Family Brick
For Sale
$749,000
2180 E 16th St, Brooklyn, NY 11229
Brick duplex with two separate units, each with its own kitchen and bathroom, plus shared building utilities via two electric and two gas meters.
Property Size1,568 SF
Days on Market23
Property Features for 2180 E 16th St
General Information
Standard status
Active
Size
1,568 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,455
Building Details
Building Size
1,568 SF
Year Built
1925
Stories
2
Listing Agency:
Pride Estates
(718) 569-2888
Listed By:
Danny D. Chung
(718) 569-2888
Source:
Elliman
Added: Jul 21
Changed: Aug 10
Last Checked: Aug 12 at 5:27AM
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 Pride Estates
Investment Insights
Based on property information with market context.
This two-family brick home offers two separate residential units. The upper unit includes two bedrooms, one bathroom, a living room, a dining area, and a kitchen. The lower unit features one bedroom, one bathroom, a living room, and a kitchen.
The property includes two electric meters and two gas meters, along with an attached garage and a private driveway. It is described as being near shopping, restaurants, places of worship, parks, schools, and minutes from the subway.
Each unit is configured with its own living spaces and kitchen, making the home suitable as an owner-occupied or investment residence based on the two separate floor plans already in place.
The property includes two electric meters and two gas meters, along with an attached garage and a private driveway. It is described as being near shopping, restaurants, places of worship, parks, schools, and minutes from the subway.
Each unit is configured with its own living spaces and kitchen, making the home suitable as an owner-occupied or investment residence based on the two separate floor plans already in place.
Key Highlights
- Two‑family brick home built in 1925 in Sheepshead Bay
- Top‑floor unit layout: 2 bedrooms, 1 bathroom, living room, dining area, and kitchen
- Bottom‑floor unit layout: 1 bedroom, 1 bathroom, living room, and kitchen
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
$54,914
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
7.33%
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%
$1,098,280
$1.1M
Cap Rate 7%
$784,486
$784.5K
Cap Rate 9%
$610,156
$610.2K
Market Conditions
NOI Build-Up for 1,568 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
$80.0K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$78.4K $50.03/SF
− OpEx
−$23.5K −$15.01/SF
NOI
$54.9K $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%
$1,098,280
Cap Rate 7%
$784,486
Cap Rate 9%
$610,156
Alternative Uses
Best Use
Multifamily LT 5
$784.5K
$686.4K – $915.2K
NOI $54,914 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$683.8K
$598.4K – $797.8K
NOI $47,869 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.51M
NOI $90,881 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,280
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with two separate units, each with its own kitchen and bathroom, plus shared building utilities via two electric and two gas meters.
Where is this duplex located?
The property is located at 2180 E 16th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑family brick home built in 1925 in Sheepshead Bay; Top‑floor unit layout: 2 bedrooms, 1 bathroom, living room, dining area, and kitchen; Bottom‑floor unit layout: 1 bedroom, 1 bathroom, living room, and kitchen
