Brick Duplex with Detached
For Sale
$925,000
401 E 35TH St, Brooklyn, NY 11203
Updated two-family brick duplex with private outdoor areas, flexible lower-level space, and dedicated garage parking.
Property Size677 SF
Lot Size0.04 Acres
Price / SF$501.36
Days on Market93
Property Features for 401 E 35TH St
General Information
Standard status
Active
Size
677 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Additional Details
Asking Price
$925,000
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,252
Amenities
private outdoor space
washer/dryer hookups
skylight
Building Details
Building Size
677 SF
Year Built
1930
Stories
2
Units
2
Construction
brick
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Allison Dubuisson · License #10301217375
(917) 685-4907
Source:
Elliman
Added: Jun 3
Changed: Aug 31
Last Checked: Sep 2 at 5:53PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located at 401 E 35TH St in Brooklyn, this 1930 brick duplex is configured as a legal two-family residence with approximately 1,845 square feet of interior space. The property measures approximately 15.75 feet wide by 43 feet deep on a 100-foot lot and includes three bedrooms and two bathrooms. Interior features include original hardwood flooring, an updated kitchen with stainless steel appliances and a center island, plus a renovated bathroom with a skylight.
The lower level has front and rear entrances, interior access, a finished secondary bathroom, and washer and dryer hookups. Plumbing and hookups for a secondary kitchen remain in place. Landscaped rear outdoor areas provide space for planting and entertaining, while a detached private garage adds on-site parking. The property is near the 2 and 5 trains at Beverly Road, with a Walk Score of 80, a Transit Score of 92, and a Bike Score of 55.
The lower level has front and rear entrances, interior access, a finished secondary bathroom, and washer and dryer hookups. Plumbing and hookups for a secondary kitchen remain in place. Landscaped rear outdoor areas provide space for planting and entertaining, while a detached private garage adds on-site parking. The property is near the 2 and 5 trains at Beverly Road, with a Walk Score of 80, a Transit Score of 92, and a Bike Score of 55.
Key Highlights
- Legal two‑family brick duplex built in 1930
- Approximately 1,845 square feet on a 100‑foot lot
- Approximately 15.75 feet wide by 43 feet deep
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
$64,615
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
6.99%
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%
$1,292,300
$1.3M
Cap Rate 7%
$923,071
$923.1K
Cap Rate 9%
$717,944
$717.9K
Market Conditions
NOI Build-Up for 1,845 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
$94.1K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$92.3K $50.03/SF
− OpEx
−$27.7K −$15.01/SF
NOI
$64.6K $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%
$1,292,300
Cap Rate 7%
$923,071
Cap Rate 9%
$717,944
Alternative Uses
Best Use
Multifamily LT 5
$923.1K
$807.7K – $1.08M
NOI $64,615 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$804.7K
$704.1K – $938.8K
NOI $56,326 @ 7.0% cap · market cap 6.09%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.78M
NOI $106,936 @ 7.0% cap · market cap 11.56%
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
3,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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 - Updated two-family brick duplex with private outdoor areas, flexible lower-level space, and dedicated garage parking.
Where is this duplex located?
The property is located at 401 E 35TH St Brooklyn, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Legal two‑family brick duplex built in 1930; Approximately 1,845 square feet on a 100‑foot lot; Approximately 15.75 feet wide by 43 feet deep
