Two-Family Residential Income
For Sale
$1,150,000
168 28th Avenue, Brooklyn, NY 11214
Well-maintained two-family home configured as a 4-bedroom over a 2-bedroom arrangement.
Property Size1,880 SF
Days on Market80
Property Features for 168 28th Avenue
General Information
Standard status
Active
Size
1,880 SF
Property subtype
Residential Income
Zoning
R5
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,093
Building Details
Building Size
1,880 SF
Year Built
1930
Units
2
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Njoek Kong Tjon · License #10401380276
Source:
Kirinny
Added: Jun 22
Changed: Sep 8
Last Checked: Sep 8 at 6:14AM
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 Ashford Homes LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers spacious living across two separate units. The property is currently set up with a 4-bedroom layout over a 2-bedroom apartment, creating flexibility for extended family use or rental income.
Located in the Bath Beach neighborhood of Brooklyn, the home is close to public transportation with convenient access to nearby train lines for commuting within Brooklyn and Manhattan. It is also described as being minutes from Coney Island attractions, including the waterfront and seasonal events, with shopping, schools, parks, and everyday conveniences nearby.
Additional location indicators include a walk score of 83 and a transit score of 88, supporting practical day-to-day accessibility.
Located in the Bath Beach neighborhood of Brooklyn, the home is close to public transportation with convenient access to nearby train lines for commuting within Brooklyn and Manhattan. It is also described as being minutes from Coney Island attractions, including the waterfront and seasonal events, with shopping, schools, parks, and everyday conveniences nearby.
Additional location indicators include a walk score of 83 and a transit score of 88, supporting practical day-to-day accessibility.
Key Highlights
- Well‑maintained 2‑family home in Brooklyn’s Bath Beach neighborhood
- Configured as a 4‑bedroom over a 2‑bedroom apartment arrangement
- Set up for homeowners seeking rental income or for investment buyers
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
$51,277
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
4.46%
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%
$1,025,540
$1.0M
Cap Rate 7%
$732,529
$732.5K
Cap Rate 9%
$569,744
$569.7K
Market Conditions
NOI Build-Up for 1,880 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
$76.7K $40.80/SF
− Vacancy
−$3.5K −$1.84/SF
EGI
$73.3K $38.96/SF
− OpEx
−$22.0K −$11.69/SF
NOI
$51.3K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,025,540
Cap Rate 7%
$732,529
Cap Rate 9%
$569,744
Alternative Uses
Best Use
Multifamily LT 5
$732.5K
$641.0K – $854.6K
NOI $51,277 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$656.5K
$574.5K – $765.9K
NOI $45,956 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,769 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home configured as a 4-bedroom over a 2-bedroom arrangement.
Where is this duplex located?
The property is located at 168 28th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Well‑maintained 2‑family home in Brooklyn’s Bath Beach neighborhood; Configured as a 4‑bedroom over a 2‑bedroom apartment arrangement; Set up for homeowners seeking rental income or for investment buyers
