Detached Duplex with Two-Car
New
For Sale
$1,589,000
1769 E 16th Street, Brooklyn, NY 11229
Residential, Brooklyn, NY
Property Size2,072 SF
Lot Size0.07 Acres
Price / SF$766.89
Days on Market6
Property Features for 1769 E 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 2
Parking features
Garage - Detached
Interior features
Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Basement
Full, Unfinished
Subdivision
Homecrest
Standard status
Active
Size
2,072 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
9450
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile, Hardwood
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Jason Sciulara
(718) 763-4110
Added: Sep 16
Changed: Sep 21
Last Checked: Sep 21 at 7:06PM
MLS# 504614
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 duplex contains two six-room apartments, each arranged with three bedrooms and one bathroom. The 2,072-square-foot residence also includes a large unfinished basement, a wide shared driveway, and a detached two-car garage. Interior features include a dishwasher, range, refrigerator, microwave, washer, dryer, and dedicated laundry area, with hardwood, tile, and carpet flooring throughout. Constructed in 1925, the property is zoned R5B.
The home is located at 1769 E 16th Street in Brooklyn’s 11229 postal area. The Q/B train is nearby, with shopping and houses of worship also referenced in the surrounding area. The 0.0689-acre parcel provides a detached residential configuration with garage access and off-street parking.
The home is located at 1769 E 16th Street in Brooklyn’s 11229 postal area. The Q/B train is nearby, with shopping and houses of worship also referenced in the surrounding area. The 0.0689-acre parcel provides a detached residential configuration with garage access and off-street parking.
Key Highlights
- Detached duplex with two 6‑room apartments
- Each apartment has 3 bedrooms and 1 bathroom
- 2,072 square feet on a 0.0689‑acre lot
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 three-bedroom apartments include an unfinished basement, wide shared driveway, and separate garage parking.
Where is this duplex located?
The property is located at 1769 E 16th Street 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: Detached duplex with two 6‑room apartments; Each apartment has 3 bedrooms and 1 bathroom; 2,072 square feet on a 0.0689‑acre lot
