Legal Two-Family
New
For Sale
$1,848,000
1829 W 10th Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size2,200 SF
Lot Size0.07 Acres
Price / SF$840
Days on Market3
Property Features for 1829 W 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 6
Patio and Porch features
Porch
Interior features
A/C Unit - Wall, Dishwasher, Dryer, Garage Door Opener(s), Laundry Area, Microwave, Porch, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
Gravesend
Standard status
Active
Size
2,200 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
8450
Building Details
Year built
1925
Floors in Building
2
Flooring type
Ceramic, Tile, Hardwood, Laminate
Building materials
Wood Frame
Roof type
Asphalt
Listing Agency:
Douglas Elliman Real Estate
(718) 840-2100
Listed By:
Salvatore J. Valente · License #10401342951
(718) 840-2100
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 13 at 11:06AM
MLS# 503721
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 semi-detached legal two-family property provides approximately 2,200 square feet of interior space across two living levels. The main level includes an open kitchen, dining, and living area with stainless-steel appliances and quartz countertops, along with access to a rear porch. The upper residence has been newly renovated and features a kitchen with granite counters, stainless-steel appliances, and an open dining-living arrangement. A finished basement adds tile flooring, laundry facilities, and a separate rear entrance.
The property sits on a 0.0689-acre lot at 1829 W 10th Street in Brooklyn's Gravesend area. A private driveway provides parking for two cars, and the home also includes a two-car garage. Additional features include wall-unit A/C, generous closet space, wood-frame construction, and a 1925 build year.
The property sits on a 0.0689-acre lot at 1829 W 10th Street in Brooklyn's Gravesend area. A private driveway provides parking for two cars, and the home also includes a two-car garage. Additional features include wall-unit A/C, generous closet space, wood-frame construction, and a 1925 build year.
Key Highlights
- Legal semi‑detached two‑family home in Brooklyn, NY
- Approximately 2,200 square feet on a 0.0689‑acre lot
- Newly renovated upper residence with kitchen and open dining‑living 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
$77,048
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
4.17%
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%
$1,540,960
$1.5M
Cap Rate 7%
$1,100,686
$1.1M
Cap Rate 9%
$856,089
$856.1K
Market Conditions
NOI Build-Up for 2,200 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
$112.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$110.1K $50.03/SF
− OpEx
−$33.0K −$15.01/SF
NOI
$77.0K $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%
$1,540,960
Cap Rate 7%
$1,100,686
Cap Rate 9%
$856,089
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 6.90%
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
3,765
Businesses Nearby
Explore this area
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
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 - Two living levels include separate kitchens, open-plan common areas, and a finished basement with its own rear entry.
Where is this duplex located?
The property is located at 1829 W 10th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,848,000.
What are key features of this property?
This property features: Legal semi‑detached two‑family home in Brooklyn, NY; Approximately 2,200 square feet on a 0.0689‑acre lot; Newly renovated upper residence with kitchen and open dining‑living area
