Spacious Two-Family Home with
For Sale
$2,600,000
1655 W 12th St, Brooklyn, NY 11223
Oversized two-family home with a unique light well.
Property Size2,400 SF
Lot Size0.07 Acres
Days on Market162
Property Features for 1655 W 12th St
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,067
Building Details
Building Size
2,400 SF
Year Built
1920
Stories
2
Listing Agency:
Kmax Realty Inc
Listed By:
Siu Wai Raymond Cheung
(929) 456-3987
Source:
Elliman
Added: May 19
Changed: Oct 25
Last Checked: Oct 26 at 3:07PM
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 Kmax Realty Inc
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Investment Insights
Based on property information with market context.
This oversized brick two-family home, measuring 20' x 63', is situated on a 32.5' x 100' lot. A thoughtfully designed interior light well brings natural light into the center of the home. The second floor features a 5-bedroom layout, offering potential to maximize property value and rental income. The first floor includes a spacious living room, 3 bedrooms, a dining area, and hardwood and tile flooring throughout. The finished lower level offers a private front entrance as well as a separate side entrance, 2 bathrooms, and versatile open space. A built-in rear garage is currently being used as an entertainment room, along with a private driveway. There is a sizable enclosed backyard. The property is located minutes from the N train at Kings Highway Station and close to the F and D subway lines. The property can be delivered vacant, or the current tenant may stay. The location has a walk score of 96, making it a walker's paradise, a transit score of 84, indicating excellent transit options, and a bike score of 56, making it bikeable. This property offers outstanding size, layout, and upside potential and is suitable for those looking to live in one unit while offsetting their mortgage with rental income, or seeking a long-term investment opportunity.
Key Highlights
- Oversized 2‑family brick home (20' x 63') on a large lot (32.5' x 100').
- Second floor with a desirable 5‑bedroom layout, maximizing rental income potential.
- Excellent transit score (84) with convenient access to N, F, and D subway lines.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,052
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,681,040
$1.7M
Cap Rate 7%
$1,200,743
$1.2M
Cap Rate 9%
$933,911
$933.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$122.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.1K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$84.1K $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%
$1,681,040
Cap Rate 7%
$1,200,743
Cap Rate 9%
$933,911
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 2.82%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,713
Businesses Nearby
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Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Oversized two-family home with a unique light well.
Where is this duplex located?
The property is located at 1655 W 12th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Oversized 2‑family brick home (20' x 63') on a large lot (32.5' x 100').; Second floor with a desirable 5‑bedroom layout, maximizing rental income potential.; Excellent transit score (84) with convenient access to N, F, and D subway lines.
