Brick Two-Unit Duplex with
For Sale
$834,000
2029 E 28th Street, Brooklyn, NY 11229
Residential Income, 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
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3
Patio and Porch features
Deck
Subdivision
Madison
Standard status
Active
Size
1,785 SF
Lot size
0.04 Acres
Utilities
Heating system
Steam, Natural Gas
Amenities
private backyard with deck
Building Details
Year built
1930
Floors in Building
3
Flooring type
Carpet, Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
UNITED NATIONAL REALTY GROUP INC
(718) 979-8000
Listed By:
Michael Dukhovny
(917) 417-2990
Added: Jul 17
Changed: Aug 31
Last Checked: Sep 2 at 10:06AM
MLS# 11891725
Copyright © 2026 My State MLS. 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 brick two-unit duplex offers a practical live-and-rent layout with a main residence and a separate one-bedroom apartment. Interior finishes include hardwood and carpet flooring, and the home is heated by steam and natural gas. The property includes a detached garage and a private backyard with a deck for outdoor entertaining. Additional features include an asphalt roof, built in 1930, and the home is being sold as-is.
Located at 2029 E 28th Street in Brooklyn, NY 11229 in Kings County, the property is positioned close to shopping, schools, parks, restaurants, and public transportation.
Room configuration includes multiple bedrooms and bathrooms across the two units, supporting a range of household needs while keeping the separate apartment component in place.
Located at 2029 E 28th Street in Brooklyn, NY 11229 in Kings County, the property is positioned close to shopping, schools, parks, restaurants, and public transportation.
Room configuration includes multiple bedrooms and bathrooms across the two units, supporting a range of household needs while keeping the separate apartment component in place.
Key Highlights
- 2‑family duplex with brick construction
- Private backyard deck plus detached garage
- Hardwood and carpet flooring
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
Lease Details
Multi-tenant
Tenancy
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 - Brick 2-family duplex featuring hardwood and carpet, plus a private deck and detached garage.
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: 2‑family duplex with brick construction; Private backyard deck plus detached garage; Hardwood and carpet flooring
