Brick Duplex with Private
For Sale
$998,000
2240 E 26th Street, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size2,024 SF
Lot Size0.05 Acres
Price / SF$493.08
Days on Market128
Property Features for 2240 E 26th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
Parking features
Garage
Patio and Porch features
Porch
Interior features
A/C Unit - Wall, Dishwasher, Dryer, Porch, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,024 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8652
Amenities
front porch
washer/dryer
private backyard
patio
deck
built-in garage
Building Details
Year built
1940
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(347) 988-5318
Added: May 6
Changed: Sep 6
Last Checked: Sep 10 at 4:06AM
MLS# 501193
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 brick duplex, built in 1940, provides approximately 2,024 square feet on a 0.0505-acre lot. The two-level layout includes living areas, a contemporary eat-in kitchen with granite countertops, full backsplash, and breakfast bar, along with additional rooms, bathrooms, and a separate entrance. Interior features include wall-mounted A/C, hardwood and tile flooring, a washer and dryer, dishwasher, refrigerator, and stove.
A built-in garage and private driveway provide on-site parking. Outdoor features include a front porch, landscaped backyard with artificial turf, patio area, and deck access. The building measures approximately 22x46 feet, while the lot measures 22x100 feet. The property is located in Brooklyn, NY 11229, and carries R4 zoning.
A built-in garage and private driveway provide on-site parking. Outdoor features include a front porch, landscaped backyard with artificial turf, patio area, and deck access. The building measures approximately 22x46 feet, while the lot measures 22x100 feet. The property is located in Brooklyn, NY 11229, and carries R4 zoning.
Key Highlights
- Approximately 2,024 square feet on a 0.0505‑acre lot
- Brick construction with 1940 year built
- Built‑in garage and private driveway
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
$70,884
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
7.10%
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%
$1,417,680
$1.4M
Cap Rate 7%
$1,012,629
$1.0M
Cap Rate 9%
$787,600
$787.6K
Market Conditions
NOI Build-Up for 2,024 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
$103.2K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$101.3K $50.03/SF
− OpEx
−$30.4K −$15.01/SF
NOI
$70.9K $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%
$1,417,680
Cap Rate 7%
$1,012,629
Cap Rate 9%
$787,600
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.1K – $1.18M
NOI $70,884 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$882.7K
$772.4K – $1.03M
NOI $61,791 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,311 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,533
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level brick property with garage parking, updated kitchen features, and landscaped outdoor space.
Where is this duplex located?
The property is located at 2240 E 26th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Approximately 2,024 square feet on a 0.0505‑acre lot; Brick construction with 1940 year built; Built‑in garage and private driveway
