Two-Family Home with Detached
New
For Sale
$1,018,000
1571 E 16th St, Brooklyn, NY 11230
Two residential units occupy the first and second floors, with finished basement space and attic storage below and above.
Property Size1,408 SF
Lot Size0.06 Acres
Days on Market7
Property Features for 1571 E 16th St
General Information
Standard status
Active
Size
1,408 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
needs to be updated/renovated
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,214
Amenities
detached garage
private backyard
finished basement
attic
Building Details
Building Size
1,408 SF
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Pride Estates
Listed By:
Mitchell Feldman
(718) 569-2888
Source:
Elliman
Added: Oct 4
Last Checked: Oct 9 at 11:25PM
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.
Configured as a two-family home, the building has a two-bedroom first-floor residence and a one-bedroom apartment upstairs. A finished basement adds a family room, small office, half bath, and laundry and utility area; the attic provides additional storage. The property also includes a detached garage, shared driveway, and private backyard on a 25' x 108' lot. A certificate of occupancy confirms the two-family use. The home is vacant and is expected to need updating or renovation. Electrical, plumbing, and heating systems are described as operational, with a new gas-powered heating system.
The property is on East 16th Street in Midwood, near shopping, restaurants, and houses of worship. The Q and B subway station at Kings Highway and B7 and B82 bus stops are nearby.
The property is on East 16th Street in Midwood, near shopping, restaurants, and houses of worship. The Q and B subway station at Kings Highway and B7 and B82 bus stops are nearby.
Key Highlights
- Two‑family home with a two‑bedroom first‑floor unit and one‑bedroom second‑floor apartment
- 25' x 108' lot with a shared driveway, detached garage, and private backyard
- Finished basement includes a family room, small office, half bath, and laundry/utility room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,311
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,220
$986.2K
Cap Rate 7%
$704,443
$704.4K
Cap Rate 9%
$547,900
$547.9K
Market Conditions
NOI Build-Up for 1,408 SF
Gross rent
$71.8K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.4K $50.03/SF
− OpEx
−$21.1K −$15.01/SF
NOI
$49.3K $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 Rate 5%
$986,220
Cap Rate 7%
$704,443
Cap Rate 9%
$547,900
Alternative Uses
Best Use
Multifamily LT 5
$704.4K
$616.4K – $821.9K
NOI $49,311 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$614.1K
$537.3K – $716.4K
NOI $42,985 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,608 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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 - Two residential units occupy the first and second floors, with finished basement space and attic storage below and above.
Where is this duplex located?
The property is located at 1571 E 16th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,018,000.
What are key features of this property?
This property features: Two‑family home with a two‑bedroom first‑floor unit and one‑bedroom second‑floor apartment; 25' x 108' lot with a shared driveway, detached garage, and private backyard; Finished basement includes a family room, small office, half bath, and laundry/utility room
