Attached Two-Family with Private
For Sale
$1,048,000
2351 E 26th St E, Brooklyn, NY 11229
Brick two-family home with backyard access, balconies, updated mechanicals, and a built-in garage with private parking.
Property Size1,890 SF
Price / SF$972.17
Days on Market83
Property Features for 2351 E 26th St E
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,250
Building Details
Building Size
1,890 SF
Year Built
1950
Stories
2
Tenancy
Multi
Listing Agency:
Mill Realty Group Inc.
(718) 266-4030
Listed By:
Lily Milman
(718) 266-4030
Source:
Elliman
Added: Jun 3
Changed: Aug 14
Last Checked: Aug 24 at 8:35AM
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 Mill Realty Group Inc.
Investment Insights
Based on property information with market context.
Solid brick attached two-family home on a tree-lined block, configured with two separate residential units. The first floor offers a spacious 1-bedroom apartment with access to a shared backyard. The second floor features a custom 2-bedroom layout with oversized bedrooms, a renovated kitchen and bathroom, and tasteful finishes throughout. Both units have access to the large backyard, and there are front and rear balconies/terraces that add additional outdoor space. The property also includes a built-in garage and private parking. Recent upgrades include an updated boiler and hot water heater, approximately 5 years old.
Set on a 22’ x 100’ lot with building size noted as 22’ x 49’, the home is positioned for convenient daily errands and transit access. The public remarks cite strong walkability and excellent transit, with nearby access to the B/Q trains at Neck Road and Sheepshead Bay stations, along with local and express bus service including B36, B44, and BM3. The offering is also described as close to parks, restaurants, supermarkets, and highly rated schools, with a bikeScore of 61 and a walkScore of 87.
This property suits buyers looking for a move-in ready owner-occupant arrangement or an income-oriented two-unit asset. With separate 1-bedroom and 2-bedroom residences, shared backyard access, and dedicated parking in the form of a built-in garage, it offers practical functionality for a range of tenant and household needs. Annual property tax is provided as $8,250, and the seller highlights the home’s updated mechanical systems as an added convenience for day-to-day ownership.
Set on a 22’ x 100’ lot with building size noted as 22’ x 49’, the home is positioned for convenient daily errands and transit access. The public remarks cite strong walkability and excellent transit, with nearby access to the B/Q trains at Neck Road and Sheepshead Bay stations, along with local and express bus service including B36, B44, and BM3. The offering is also described as close to parks, restaurants, supermarkets, and highly rated schools, with a bikeScore of 61 and a walkScore of 87.
This property suits buyers looking for a move-in ready owner-occupant arrangement or an income-oriented two-unit asset. With separate 1-bedroom and 2-bedroom residences, shared backyard access, and dedicated parking in the form of a built-in garage, it offers practical functionality for a range of tenant and household needs. Annual property tax is provided as $8,250, and the seller highlights the home’s updated mechanical systems as an added convenience for day-to-day ownership.
Key Highlights
- Solid brick attached 2‑family home (built in 1950) on a 22' x 100' lot with a 22' x 49' building
- First‑floor 1‑bedroom apartment with access to a shared backyard
- Second‑floor custom 2‑bedroom unit with oversized bedrooms and a renovated kitchen and bathroom
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
$37,753
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
3.60%
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%
$755,060
$755.1K
Cap Rate 7%
$539,329
$539.3K
Cap Rate 9%
$419,478
$419.5K
Market Conditions
NOI Build-Up for 1,078 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
$55.0K $51.00/SF
− Vacancy
−$1.0K −$0.97/SF
EGI
$53.9K $50.03/SF
− OpEx
−$16.2K −$15.01/SF
NOI
$37.8K $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%
$755,060
Cap Rate 7%
$539,329
Cap Rate 9%
$419,478
Alternative Uses
Best Use
Multifamily LT 5
$539.3K
$471.9K – $629.2K
NOI $37,753 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$470.1K
$411.4K – $548.5K
NOI $32,910 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$892.6K
$781.0K – $1.04M
NOI $62,481 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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 two-family home with backyard access, balconies, updated mechanicals, and a built-in garage with private parking.
Where is this duplex located?
The property is located at 2351 E 26th St E Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,048,000.
What are key features of this property?
This property features: Solid brick attached 2‑family home (built in 1950) on a 22' x 100' lot with a 22' x 49' building; First‑floor 1‑bedroom apartment with access to a shared backyard; Second‑floor custom 2‑bedroom unit with oversized bedrooms and a renovated kitchen and bathroom
