Modern Two-Unit Duplex
For Sale
$2,800,000
15 Evans Street, Brooklyn, NY 11201
Built in 2005, the property combines two residential units with private outdoor space and shared rooftop access.
Property Size3,354 SF
Days on Market303
Property Features for 15 Evans Street
General Information
Standard status
Active
Size
3,354 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,354
Amenities
central heating and air conditioning
in-unit laundry
private balconies
rooftop access
Building Details
Building Size
3,354 SF
Year Built
2005
Listing Agency:
Keller Williams Realty Greater
Listed By:
Randy Lin · License #10401299113
(607) 423-8965
Source:
Serhant
Added: Nov 10, 2025
Changed: Sep 8
Last Checked: Sep 9 at 6:47AM
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 Keller Williams Realty Greater
Investment Insights
Based on property information with market context.
Built in 2005, this duplex property contains two residential units totaling over 3,000 sq ft of living space. Each unit is arranged across two levels, with an open living and kitchen area on the main floor and bedrooms positioned on a separate floor. Central heating and air conditioning, in-unit laundry, and private balconies serve the residences.
The property also includes rooftop access with skyline views and is currently sold occupied. Its address is 15 Evans Street, Brooklyn, NY 11201, within the DUMBO neighborhood.
The property also includes rooftop access with skyline views and is currently sold occupied. Its address is 15 Evans Street, Brooklyn, NY 11201, within the DUMBO neighborhood.
Key Highlights
- Two duplex units with a combined living area of over 3,000 sq ft
- Built in 2005
- Each unit includes an open‑concept living and kitchen level
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
$117,463
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
4.20%
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%
$2,349,260
$2.3M
Cap Rate 7%
$1,678,043
$1.7M
Cap Rate 9%
$1,305,144
$1.3M
Market Conditions
NOI Build-Up for 3,354 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
$171.1K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$167.8K $50.03/SF
− OpEx
−$50.3K −$15.01/SF
NOI
$117.5K $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%
$2,349,260
Cap Rate 7%
$1,678,043
Cap Rate 9%
$1,305,144
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,463 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$1.46M
$1.28M – $1.71M
NOI $102,394 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$2.78M
$2.43M – $3.24M
NOI $194,398 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,962
Businesses Nearby
Explore this area
Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 2005, the property combines two residential units with private outdoor space and shared rooftop access.
Where is this duplex located?
The property is located at 15 Evans Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Two duplex units with a combined living area of over 3,000 sq ft; Built in 2005; Each unit includes an open‑concept living and kitchen level
