Brick Two-Unit
New
For Sale
$1,080,000
2345 E 26th St, Brooklyn, NY 11229
Each residence has separate utilities, heating equipment, water heaters, and electric and gas meters.
Property Size1,890 SF
Lot Size0.05 Acres
Price / SF$490.91
Days on Market7
Property Features for 2345 E 26th St
General Information
Standard status
Active
Size
1,890 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,428
Amenities
Attached Garage
Private Driveway
Separate Utilities
Front and Rear Entrances
Backyard Access
Building Details
Building Size
1,890 SF
Year Built
1950
Buildings
1
Stories
1
Construction
Brick
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Kelly Wu · License #10401268467
(718) 612-3088
Source:
Elliman
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 21 at 6:21AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This brick duplex, built in 1950, contains two separately configured residences on a 22x100 lot with a 22x49 building footprint and approximately 2,200 sq. ft. of interior space. The first-floor unit includes two bedrooms, a living room, kitchen, full bathroom, and front and rear entrances. The second-floor unit provides three bedrooms, a living room, kitchen, full bathroom, and backyard access. An attached garage and private driveway add functional on-site parking and storage.
Each unit has independent heating, water heating, electric metering, and gas metering. The property is located at 2345 E 26th St in Sheepshead Bay, near shopping, restaurants, schools, and public transportation. Access includes the Q and B trains, along with B3, B36, B44, B44-SBS, and BM3 bus service.
Each unit has independent heating, water heating, electric metering, and gas metering. The property is located at 2345 E 26th St in Sheepshead Bay, near shopping, restaurants, schools, and public transportation. Access includes the Q and B trains, along with B3, B36, B44, B44-SBS, and BM3 bus service.
Key Highlights
- Two‑family duplex on a 22x100 lot with a 22x49 building size
- Approximately 2,200 sq. ft. across two separately configured residences
- First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms
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
$77,048
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
7.13%
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%
$1,540,960
$1.5M
Cap Rate 7%
$1,100,686
$1.1M
Cap Rate 9%
$856,089
$856.1K
Market Conditions
NOI Build-Up for 2,200 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
$112.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$110.1K $50.03/SF
− OpEx
−$33.0K −$15.01/SF
NOI
$77.0K $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%
$1,540,960
Cap Rate 7%
$1,100,686
Cap Rate 9%
$856,089
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 6.22%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 11.81%
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
4,524
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has separate utilities, heating equipment, water heaters, and electric and gas meters.
Where is this duplex located?
The property is located at 2345 E 26th St 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: Two‑family duplex on a 22x100 lot with a 22x49 building size; Approximately 2,200 sq. ft. across two separately configured residences; First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms
