Duplex with Detached
New
For Sale
$1,018,000
1571 E 16th Street, Brooklyn, NY 11230
Residential, Duplex, Brooklyn, NY
Property Size1,408 SF
Lot Size0.06 Acres
Price / SF$723.01
Days on Market1
Property Features for 1571 E 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4-1
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Midwood
Standard status
Active
Size
1,408 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9214
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Linoleum, Carpet
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Pride Estates
Listed By:
Mitchell Feldman
(718) 569-2888
Added: Oct 2
Last Checked: Oct 2 at 7:06PM
MLS# 505007
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.
This detached, two-family residence contains a one-bedroom apartment on the upper floor and a two-bedroom apartment on the first floor. The 1,408-square-foot building also has a finished basement with a family room, office, half bath, and laundry and utility area; an attic provides additional storage. A detached garage, shared driveway, and private backyard are included. The property needs updating, while its electric, plumbing, and heat are reported in working order. The gas-fired heating system is new. A certificate of occupancy identifies the home as a two-family residence, and conversion to a single-family house is described as a possibility. Delivery is planned vacant at closing.
The 0.0614-acre lot measures 25' x 108'. The property is zoned R4-1 and is near shopping, restaurants, houses of worship, the Q and B subway station at Kings Highway, and B7 and B52 bus stops.
The 0.0614-acre lot measures 25' x 108'. The property is zoned R4-1 and is near shopping, restaurants, houses of worship, the Q and B subway station at Kings Highway, and B7 and B52 bus stops.
Key Highlights
- Two‑family residence with a one‑bedroom upper apartment and a two‑bedroom first‑floor apartment
- 1,408 square feet on a 0.0614‑acre lot measuring 25' x 108'
- Finished basement includes a family room, office, half bath, and laundry/utility area
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
$49,311
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
4.84%
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%
$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
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
$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 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%
$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 separate apartments sit above a finished basement, with a private backyard and shared driveway.
Where is this duplex located?
The property is located at 1571 E 16th Street 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 residence with a one‑bedroom upper apartment and a two‑bedroom first‑floor apartment; 1,408 square feet on a 0.0614‑acre lot measuring 25' x 108'; Finished basement includes a family room, office, half bath, and laundry/utility area
