Duplex with A/C
For Sale
$2,498,000
1412 Neptune Avenue, Brooklyn, NY 11224
MULTI_FAMILY - Brooklyn, NY
Property Size2,508 SF
Lot Size0.07 Acres
Price / SF$996.01
Days on Market865
Property Features for 1412 Neptune Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6-C1
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 1
Interior features
A/C Unit, A/C Unit - Window, Refrigerator, Stove
Subdivision
Coney Island
Standard status
Active
Size
2,508 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3500
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Wood Frame
Roof type
Flat, Rubber
Listing Agency:
Century 21 Realty First
(718) 758-5838
Listed By:
Karla Ng Mok · License #KNM9509
(718) 758-5838
Added: Apr 2, 2024
Changed: Aug 4
Last Checked: Aug 14 at 3:06AM
MLS# 481021
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two-family wood-frame duplex on a development site at 1412 Neptune Avenue in Brooklyn. The home was built in 1930 and features a wood frame construction with a flat roof and rubber roofing. Interior finishes include hardwood and tile flooring, and practical in-unit amenities such as A/C units (window units), a refrigerator, and a stove.
The property sits on a lot described as 32 x 130 and includes a building described as 22 x 38. Zoning is listed as R6-C1, supporting a range of buyer and developer end-user considerations. The site is minutes from the beach and offers access to shopping, entertainment, and transportation.
Offers must be accompanied by pre-approval or proof of funds.
The property sits on a lot described as 32 x 130 and includes a building described as 22 x 38. Zoning is listed as R6-C1, supporting a range of buyer and developer end-user considerations. The site is minutes from the beach and offers access to shopping, entertainment, and transportation.
Offers must be accompanied by pre-approval or proof of funds.
Key Highlights
- Two‑family wood‑frame duplex at 1412 Neptune Avenue, Brooklyn, NY 11224
- Lot size 32 x 130; building size 22 x 38
- Zoned R6‑C1
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
$87,834
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
3.52%
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%
$1,756,680
$1.8M
Cap Rate 7%
$1,254,771
$1.3M
Cap Rate 9%
$975,933
$975.9K
Market Conditions
NOI Build-Up for 2,508 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
$127.9K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$125.5K $50.03/SF
− OpEx
−$37.6K −$15.01/SF
NOI
$87.8K $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%
$1,756,680
Cap Rate 7%
$1,254,771
Cap Rate 9%
$975,933
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,834 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$1.09M
$957.1K – $1.28M
NOI $76,567 @ 7.0% cap · market cap 3.07%
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.42M
NOI $145,364 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
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 - Two-family wood-frame duplex on a development site with A/C units, hardwood and tile floors, and a flat rubber roof.
Where is this duplex located?
The property is located at 1412 Neptune Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,498,000.
What are key features of this property?
This property features: Two‑family wood‑frame duplex at 1412 Neptune Avenue, Brooklyn, NY 11224; Lot size 32 x 130; building size 22 x 38; Zoned R6‑C1
