Detached Two-Family
New
For Sale
$1,589,000
1769 E 16th St, Brooklyn, NY 11229
Two residential apartments, an unfinished basement, and a detached garage support a flexible duplex configuration.
Property Size2,072 SF
Days on Market7
Property Features for 1769 E 16th St
General Information
Standard status
Active
Size
2,072 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,450
Amenities
unfinished basement
Building Details
Building Size
2,072 SF
Year Built
1925
Buildings
1
Stories
2
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Elliman
Added: Sep 19
Changed: Sep 24
Last Checked: Sep 24 at 1:03PM
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 Bergen Basin Realty LLC
Investment Insights
Based on property information with market context.
This detached two-family residence, built in 1925, is arranged as two six-room apartments. Each unit includes three bedrooms and one bathroom, providing a consistent layout across both residences. A substantial unfinished basement adds additional interior space, while the detached two-car garage and extra-wide shared driveway provide on-site parking and vehicle access.
The property is located near the Q and B train lines, with shopping and Houses of Worship also nearby. Its walkScore is 94, identified as Walker's Paradise, while the transitScore is 78, rated Excellent Transit. The bikeScore is 69, rated Bikeable.
The property is located near the Q and B train lines, with shopping and Houses of Worship also nearby. Its walkScore is 94, identified as Walker's Paradise, while the transitScore is 78, rated Excellent Transit. The bikeScore is 69, rated Bikeable.
Key Highlights
- Two apartments, each with 6 rooms, 3 bedrooms, and 1 bathroom
- Detached 2‑car garage with an extra‑wide shared driveway
- Huge unfinished basement
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
$72,565
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
4.57%
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%
$1,451,300
$1.5M
Cap Rate 7%
$1,036,643
$1.0M
Cap Rate 9%
$806,278
$806.3K
Market Conditions
NOI Build-Up for 2,072 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
$105.7K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$103.7K $50.03/SF
− OpEx
−$31.1K −$15.01/SF
NOI
$72.6K $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%
$1,451,300
Cap Rate 7%
$1,036,643
Cap Rate 9%
$806,278
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.1K – $1.21M
NOI $72,565 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$903.7K
$790.7K – $1.05M
NOI $63,256 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.00M
NOI $120,093 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,560
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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 apartments, an unfinished basement, and a detached garage support a flexible duplex configuration.
Where is this duplex located?
The property is located at 1769 E 16th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,589,000.
What are key features of this property?
This property features: Two apartments, each with 6 rooms, 3 bedrooms, and 1 bathroom; Detached 2‑car garage with an extra‑wide shared driveway; Huge unfinished basement
