Three-Story Brick Duplex
For Sale
$1,280,000
2453 Coyle St, Brooklyn, NY 11235
Attached brick residence with two separate living units, private parking, outdoor areas, and finished basement space.
Property Size2,440 SF
Days on Market10
Property Features for 2453 Coyle St
General Information
Standard status
Active
Size
2,440 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2BR, 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,077
Amenities
deck
finished basement
washer/dryer
Building Details
Building Size
2,440 SF
Year Built
1955
Buildings
1
Stories
3
Construction
Brick
Listing Agency:
ProBase Real Estate
Listed By:
Xi Xian (Johnny) Pan · License #XXP4124
(718) 210-2727
Source:
Elliman
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 24 at 12:50PM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
This attached three-story brick duplex property was built in 1955 and contains two distinct residences. The first-floor apartment offers two bedrooms and direct access to the backyard. Above it, the second- and third-floor duplex includes three bedrooms, one and a half bathrooms, a dining area, and a rear deck facing the yard. A finished basement provides additional usable space along with a half bathroom, washer, and dryer.
The building measures 20 × 38 on a 20 × 100 lot and includes two private rear parking spaces. The first-floor unit is leased through 2/15/2028. Located at 2453 Coyle St in Brooklyn’s Sheepshead Bay neighborhood, the property is near groceries, schools, and local shops, with access to the Belt Parkway nearby. WalkScore is 80, BikeScore is 63, and TransitScore is 63.
The building measures 20 × 38 on a 20 × 100 lot and includes two private rear parking spaces. The first-floor unit is leased through 2/15/2028. Located at 2453 Coyle St in Brooklyn’s Sheepshead Bay neighborhood, the property is near groceries, schools, and local shops, with access to the Belt Parkway nearby. WalkScore is 80, BikeScore is 63, and TransitScore is 63.
Key Highlights
- Attached three‑story brick duplex built in 1955
- 20 × 38 building on a 20 × 100 lot
- First‑floor two‑bedroom unit leased through 2/15/2028
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
$85,453
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
6.68%
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%
$1,709,060
$1.7M
Cap Rate 7%
$1,220,757
$1.2M
Cap Rate 9%
$949,478
$949.5K
Market Conditions
NOI Build-Up for 2,440 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
$124.4K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$122.1K $50.03/SF
− OpEx
−$36.6K −$15.01/SF
NOI
$85.5K $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%
$1,709,060
Cap Rate 7%
$1,220,757
Cap Rate 9%
$949,478
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,453 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$1.06M
$931.1K – $1.24M
NOI $74,491 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.36M
NOI $141,422 @ 7.0% cap · market cap 11.05%
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
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
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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 - Attached brick residence with two separate living units, private parking, outdoor areas, and finished basement space.
Where is this duplex located?
The property is located at 2453 Coyle St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Attached three‑story brick duplex built in 1955; 20 × 38 building on a 20 × 100 lot; First‑floor two‑bedroom unit leased through 2/15/2028
