Brick Duplex with Private
For Sale
$1,398,000
Pending
2571 E 29th St, Brooklyn, NY 11235
Two-family brick residence with separate duplex layouts, outdoor space, and dedicated covered parking.
Property Size2,320 SF
Days on Market124
Property Features for 2571 E 29th St
General Information
Standard status
Pending
Size
2,320 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/2BA with basement
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,674
Amenities
split A/C units
hardwood floors
updated kitchens and bathrooms
radiant heated floors
private backyard
rear porch
private carport
Building Details
Building Size
2,320 SF
Year Built
1960
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Albert Taye · License #TAYA286
(718) 612-3088
Source:
Elliman
Added: May 9
Changed: Sep 7
Last Checked: Sep 8 at 7:17AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Located at 2571 E 29th St in Brooklyn, this two-family brick residence was built in 1960. The owner’s duplex includes 3 bedrooms and 1.5 baths, while the second duplex provides 2 bedrooms, 2 baths, and a basement. Interior features include split A/C units, hardwood flooring, updated kitchens and bathrooms, and radiant-heated basement floors.
Exterior amenities include a private backyard, rear porch, and private carport. The property is near shopping, restaurants, and transportation, with a Walk Score of 87, Transit Score of 72, and Bike Score of 61.
Exterior amenities include a private backyard, rear porch, and private carport. The property is near shopping, restaurants, and transportation, with a Walk Score of 87, Transit Score of 72, and Bike Score of 61.
Key Highlights
- Two‑family brick residence built in 1960
- Owner’s duplex offers 3 bedrooms and 1.5 baths
- Second duplex includes 2 bedrooms, 2 baths, and a basement
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
$81,250
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
5.81%
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%
$1,625,000
$1.6M
Cap Rate 7%
$1,160,714
$1.2M
Cap Rate 9%
$902,778
$902.8K
Market Conditions
NOI Build-Up for 2,320 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
$118.3K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$116.1K $50.03/SF
− OpEx
−$34.8K −$15.01/SF
NOI
$81.3K $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%
$1,625,000
Cap Rate 7%
$1,160,714
Cap Rate 9%
$902,778
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.35M
NOI $81,250 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$1.01M
$885.3K – $1.18M
NOI $70,827 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,467 @ 7.0% cap · market cap 9.62%
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
2,890
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 brick residence with separate duplex layouts, outdoor space, and dedicated covered parking.
Where is this duplex located?
The property is located at 2571 E 29th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Two‑family brick residence built in 1960; Owner’s duplex offers 3 bedrooms and 1.5 baths; Second duplex includes 2 bedrooms, 2 baths, and a basement
