Updated Three-Bedroom
New
For Sale
$888,000
2022 Ford Street, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,224 SF
Lot Size0.04 Acres
Price / SF$725.49
Days on Market5
Property Features for 2022 Ford Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1
Parking features
Garage
Interior features
Stove
Basement
Unfinished
Subdivision
Marine Park
Standard status
Active
Size
1,224 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6252
Building Details
Year built
1930
Floors in Building
2
Flooring type
Laminate, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
BHHS Fillmore R.E.
(718) 377-6161
Listed By:
Lucy Ciocia
(718) 368-2500
Added: Sep 18
Last Checked: Sep 22 at 12:06AM
MLS# 504676
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 1,224-square-foot brick duplex, built in 1930, includes three bedrooms, a renovated kitchen with a new stove, and an updated bathroom with new tilework and vanity. Laminate and tile flooring have been installed throughout the main living areas. The property also features a flat roof, community driveway, one-car garage, and parking for multiple vehicles.
The basement is clean and freshly painted, with a rear entrance and space that can be finished for additional use. Located in Brooklyn near Marine Park, shopping, transportation, and bus service, the property is zoned R4 and occupies a 0.0425-acre lot.
The basement is clean and freshly painted, with a rear entrance and space that can be finished for additional use. Located in Brooklyn near Marine Park, shopping, transportation, and bus service, the property is zoned R4 and occupies a 0.0425-acre lot.
Key Highlights
- 1,224‑square‑foot brick duplex with three bedrooms
- Renovated kitchen with new stove and tile flooring
- Updated bathroom with new vanity and tilework
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
$42,867
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
4.83%
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%
$857,340
$857.3K
Cap Rate 7%
$612,386
$612.4K
Cap Rate 9%
$476,300
$476.3K
Market Conditions
NOI Build-Up for 1,224 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
$62.4K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$61.2K $50.03/SF
− OpEx
−$18.4K −$15.01/SF
NOI
$42.9K $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%
$857,340
Cap Rate 7%
$612,386
Cap Rate 9%
$476,300
Alternative Uses
Best Use
Multifamily LT 5
$612.4K
$535.8K – $714.5K
NOI $42,867 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$533.8K
$467.1K – $622.8K
NOI $37,367 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$1.01M
$886.8K – $1.18M
NOI $70,943 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,998
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 - Brick duplex with renovated kitchen and bath, garage parking, and a basement with rear access.
Where is this duplex located?
The property is located at 2022 Ford Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $888,000.
What are key features of this property?
This property features: 1,224‑square‑foot brick duplex with three bedrooms; Renovated kitchen with new stove and tile flooring; Updated bathroom with new vanity and tilework
