Three-Story Duplex with
New
For Sale
$1,299,000
Pending
2062 E 15th St, Brooklyn, NY 11229
Semi-attached two-family property with finished lower-level space, private outdoor areas, and flexible occupancy potential.
Property Size2,404 SF
Lot Size0.05 Acres
Days on Market4
Property Features for 2062 E 15th St
General Information
Standard status
Pending
Size
2,404 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 5BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,874
Amenities
rear patio
backyard
full finished basement
Building Details
Building Size
2,404 SF
Buildings
1
Stories
3
Listing Agency:
Fang Fang Realty Inc
(718) 676-2518
Listed By:
Xiu Qin (Jenny) Zou
(718) 676-2518
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 5:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fang Fang Realty Inc
Investment Insights
Based on property information with market context.
This semi-attached duplex is arranged as a three-story two-family residence with a full finished basement. Each unit includes five bedrooms and two bathrooms, providing a substantial configuration for owner occupancy or residential income use. The property also offers a rear patio and backyard, adding usable outdoor space to the home. The building measures 18 by 55 feet on a 20 by 100-foot lot.
The property is located at 2062 E 15th St in Brooklyn, near supermarkets, banks, restaurants, and shops. The Q train station and B3 bus stop are also nearby. WalkScore is 96, TransitScore is 84, and BikeScore is 63.
The property is located at 2062 E 15th St in Brooklyn, near supermarkets, banks, restaurants, and shops. The Q train station and B3 bus stop are also nearby. WalkScore is 96, TransitScore is 84, and BikeScore is 63.
Key Highlights
- Two‑family duplex with two five‑bedroom, two‑bathroom units
- Three‑story layout with a full finished basement
- 18 by 55‑foot building on a 20 by 100‑foot 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
$84,192
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
6.48%
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%
$1,683,840
$1.7M
Cap Rate 7%
$1,202,743
$1.2M
Cap Rate 9%
$935,467
$935.5K
Market Conditions
NOI Build-Up for 2,404 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
$122.6K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.3K $50.03/SF
− OpEx
−$36.1K −$15.01/SF
NOI
$84.2K $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%
$1,683,840
Cap Rate 7%
$1,202,743
Cap Rate 9%
$935,467
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,192 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$1.05M
$917.4K – $1.22M
NOI $73,392 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,336 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,179
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 - Semi-attached two-family property with finished lower-level space, private outdoor areas, and flexible occupancy potential.
Where is this duplex located?
The property is located at 2062 E 15th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑family duplex with two five‑bedroom, two‑bathroom units; Three‑story layout with a full finished basement; 18 by 55‑foot building on a 20 by 100‑foot lot
