Duplex Brick Home with
For Sale
$834,000
2029 E 28th Street, Brooklyn, NY 11229
Residential, Triplex, Brooklyn, NY
Property Size1,785 SF
Lot Size0.04 Acres
Price / SF$467.23
Days on Market48
Property Features for 2029 E 28th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R4
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1
Parking features
Garage - Detached
Patio and Porch features
Deck
Interior features
Deck, Laundry Area, Microwave, Refrigerator, Stove, Washer
Subdivision
Madison
Standard status
Active
Size
1,785 SF
Lot size
0.04 Acres
Amenities
detached garage
private backyard with a deck
Building Details
Year built
1930
Number of units
2
Flooring type
Hardwood, Carpet
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
United National Realty
(718) 979-8000
Listed By:
Michael Dukhovny
(917) 417-2990
Added: Jul 17
Changed: Aug 31
Last Checked: Sep 2 at 11:06AM
MLS# 503105
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.
Duplex brick home with hardwood and carpet flooring, a shingle roof, and a deck. The property is set up with interior laundry and includes a microwave, refrigerator, stove, and washer. Parking is provided via a detached garage.
Built in 1930, the home sits on a 0.0407-acre lot and is zoned R4. The layout includes multiple bedrooms and bathrooms across the main residence and an additional one-bedroom apartment.
Being sold as is. The exterior also features a private backyard with the deck for outdoor use.
Built in 1930, the home sits on a 0.0407-acre lot and is zoned R4. The layout includes multiple bedrooms and bathrooms across the main residence and an additional one-bedroom apartment.
Being sold as is. The exterior also features a private backyard with the deck for outdoor use.
Key Highlights
- Duplex brick home with shingle roof
- 0.0407‑acre lot
- Zoned R4
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
$62,514
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
7.50%
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%
$1,250,280
$1.3M
Cap Rate 7%
$893,057
$893.1K
Cap Rate 9%
$694,600
$694.6K
Market Conditions
NOI Build-Up for 1,785 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
$91.0K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$89.3K $50.03/SF
− OpEx
−$26.8K −$15.01/SF
NOI
$62.5K $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%
$1,250,280
Cap Rate 7%
$893,057
Cap Rate 9%
$694,600
Alternative Uses
Best Use
Multifamily LT 5
$893.1K
$781.4K – $1.04M
NOI $62,514 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$778.5K
$681.2K – $908.2K
NOI $54,494 @ 7.0% cap · market cap 6.53%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,459 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,163
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
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 - Duplex brick home in R4 zoning with a detached garage and a private deck, built in 1930.
Where is this duplex located?
The property is located at 2029 E 28th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $834,000.
What are key features of this property?
This property features: Duplex brick home with shingle roof; 0.0407‑acre lot; Zoned R4
