Attached Brick Single-Family
For Sale
$1,080,000
2340 E 29th Street, Brooklyn, NY 11229
SINGLE_FAMILY - Brooklyn, NY
Property Size1,960 SF
Lot Size0.05 Acres
Price / SF$551.02
Days on Market19
Property Features for 2340 E 29th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 3
Parking features
Garage - Attached
Interior features
A/C Unit, A/C Unit - Wall, Dishwasher, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,960 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8141
Building Details
Year built
1949
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Kelly Wu
(718) 612-3088
Added: Jul 27
Changed: Aug 13
Last Checked: Aug 14 at 5:06PM
MLS# 503323
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.
Well-maintained attached brick single-family home offering a 20' x 36' building on a 20' x 100' lot. The layout includes a spacious living room, dining room, kitchen, and a half bath on the main floor. Upstairs, you’ll find three bedrooms and a full bath. The finished walk-in basement includes an additional full bath and offers flexible living, recreation, or storage space, with a separate entrance for added convenience. Outside, the property features a private driveway, attached garage, front yard, and backyard.
Located in Sheepshead Bay, the home is near shopping, restaurants, schools, and public transportation. Transit options listed include the B36, B44, B49, and BM3 buses, as well as the B and Q subway lines.
Zoned R4, this residence provides a straightforward single-family configuration with interior living space plus an independently accessible lower level.
Located in Sheepshead Bay, the home is near shopping, restaurants, schools, and public transportation. Transit options listed include the B36, B44, B49, and BM3 buses, as well as the B and Q subway lines.
Zoned R4, this residence provides a straightforward single-family configuration with interior living space plus an independently accessible lower level.
Key Highlights
- Attached brick single‑family home built in 1949 on a 20' x 100' lot
- 20' x 36' building with 3 bedrooms and 2 full baths plus 1 half bath
- Main floor includes living room, dining room, kitchen, and half bath
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
$59,837
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
5.54%
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%
$1,196,740
$1.2M
Cap Rate 7%
$854,814
$854.8K
Cap Rate 9%
$664,856
$664.9K
Market Conditions
NOI Build-Up for 1,960 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
$111.0K $56.64/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$108.8K $55.51/SF
− OpEx
−$49.0K −$24.98/SF
NOI
$59.8K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,196,740
Cap Rate 7%
$854,814
Cap Rate 9%
$664,856
Alternative Uses
Best Use
Apartment 5plus
$854.8K
$748.0K – $997.3K
NOI $59,837 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,602 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,462
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Attached brick home with 3 bedrooms, 2 full and 1 half baths, plus a finished walk-in basement with separate entrance.
Where is this single family property located?
The property is located at 2340 E 29th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Attached brick single‑family home built in 1949 on a 20' x 100' lot; 20' x 36' building with 3 bedrooms and 2 full baths plus 1 half bath; Main floor includes living room, dining room, kitchen, and half bath
