Gravesend Two-Family
For Sale
$2,275,000
Pending
2449 85th St, Brooklyn, NY 11214
Well-maintained 8-bedroom, 5-bathroom two-family home in Gravesend.
Property Size3,202 SF
Lot Size0.07 Acres
Days on Market285
Property Features for 2449 85th St
General Information
Standard status
Pending
Size
3,202 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,125
Building Details
Building Size
3,202 SF
Year Built
1960
Stories
3
Listed By:
Thomas Durante
(718) 690-3900
Source:
Elliman
Added: Nov 28, 2025
Changed: Sep 4
Last Checked: Sep 8 at 6:45AM
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 Thomas Durante
Investment Insights
Based on property information with market context.
This well-maintained two-family home features 8 bedrooms and 5 bathrooms. Located in the Gravesend neighborhood, it offers access to shopping, dining, and public transportation. The 25th Avenue Station, with the Express D Train, is minutes away. The first floor has a 3-bedroom apartment, complete with a full bathroom and a half bath adjacent to the master bedroom. The second floor mirrors this layout. The property includes outdoor space with a front, side, and backyard, along with a private driveway that accommodates parking for 3 cars. This home offers functional living space in a prime location.
Key Highlights
- Prime Gravesend location with easy access to shopping, dining, and public transportation.
- Convenient access to the 25th Avenue Station and the Express D Train.
- Two‑family home featuring a total of 8 bedrooms and 5 bathrooms.
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
$87,334
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
3.84%
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%
$1,746,680
$1.7M
Cap Rate 7%
$1,247,629
$1.2M
Cap Rate 9%
$970,378
$970.4K
Market Conditions
NOI Build-Up for 3,202 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
$130.6K $40.80/SF
− Vacancy
−$5.9K −$1.84/SF
EGI
$124.8K $38.96/SF
− OpEx
−$37.4K −$11.69/SF
NOI
$87.3K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,746,680
Cap Rate 7%
$1,247,629
Cap Rate 9%
$970,378
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,334 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$1.12M
$978.4K – $1.30M
NOI $78,271 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,752 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained 8-bedroom, 5-bathroom two-family home in Gravesend.
Where is this duplex located?
The property is located at 2449 85th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Prime Gravesend location with easy access to shopping, dining, and public transportation.; Convenient access to the 25th Avenue Station and the Express D Train.; Two‑family home featuring a total of 8 bedrooms and 5 bathrooms.
