Two-Family Brick
New
For Sale
$999,000
2453 Brigham St, Brooklyn, NY 11235
Updated kitchens, finished basement, private yard, garage, and driveway support practical residential use.
Property Size1,560 SF
Days on Market2
Property Features for 2453 Brigham St
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
1
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,651
Amenities
private yard
hardwood and tile flooring
washer and dryer
updated appliances
new plumbing
finished basement
Building Details
Building Size
1,560 SF
Year Built
1955
Buildings
1
Stories
2
Construction
solid brick
Listing Agency:
RE/MAX Elite
Listed By:
Madeline Caudiano · License #30CA0424042
(718) 690-3900
Source:
Elliman
Added: Sep 4
Last Checked: Sep 4 at 3:07PM
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 RE/MAX Elite
Investment Insights
Based on property information with market context.
This two-family brick residence, built in 1955, offers a two-bedroom layout on each floor. The property includes two updated kitchens, three updated bathrooms, hardwood and tile flooring, and a fully finished basement. New plumbing, updated appliances, and a new washer and dryer add to the functional improvements. A private yard, one-car garage, and private driveway provide additional on-site features.
Located at 2453 Brigham St in Brooklyn’s Sheepshead Bay, the property has a Walk Score of 80, a Bike Score of 63, and a Transit Score of 63. The home combines a multi-unit configuration with updated interior systems and dedicated exterior amenities.
Located at 2453 Brigham St in Brooklyn’s Sheepshead Bay, the property has a Walk Score of 80, a Bike Score of 63, and a Transit Score of 63. The home combines a multi-unit configuration with updated interior systems and dedicated exterior amenities.
Key Highlights
- Two‑family brick residence built in 1955
- Two bedrooms on each floor
- Two updated kitchens and three updated 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
$54,634
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
5.47%
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%
$1,092,680
$1.1M
Cap Rate 7%
$780,486
$780.5K
Cap Rate 9%
$607,044
$607.0K
Market Conditions
NOI Build-Up for 1,560 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
$79.6K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$78.0K $50.03/SF
− OpEx
−$23.4K −$15.01/SF
NOI
$54.6K $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%
$1,092,680
Cap Rate 7%
$780,486
Cap Rate 9%
$607,044
Alternative Uses
Best Use
Multifamily LT 5
$780.5K
$682.9K – $910.6K
NOI $54,634 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$680.4K
$595.3K – $793.8K
NOI $47,625 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,418 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Updated kitchens, finished basement, private yard, garage, and driveway support practical residential use.
Where is this duplex located?
The property is located at 2453 Brigham St Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑family brick residence built in 1955; Two bedrooms on each floor; Two updated kitchens and three updated bathrooms
