Attached Four-Story Two-Family
For Sale
$1,199,888
2462 Bragg St, Brooklyn, NY 11235
Attached two-family with updated kitchens, renovated baths, hardwood floors, and a fully finished basement with separate entrance.
Property Size2,244 SF
Price / SF$401.03
Days on Market50
Property Features for 2462 Bragg St
General Information
Standard status
Active
Size
2,244 SF
Total Parking Spaces
2
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,194
Building Details
Building Size
2,244 SF
Year Built
1955
Stories
3
Tenancy
Multi
Listing Agency:
LOMBARDO HOMES & ESTATES
Listed By:
Joseph Lombardo · License #10311204851
(516) 200-6448
Source:
Elliman
Added: Jul 16
Changed: Aug 31
Last Checked: Sep 2 at 8:56PM
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 LOMBARDO HOMES & ESTATES
Investment Insights
Based on property information with market context.
Updated 2,992 SF attached two-family home in a four-story configuration, including a fully finished basement with a separate entrance. The home features updated kitchens, new hardwood floors, and renovated bathrooms finished with custom Italian stone. Heating is provided by newly installed baseboard heat with natural gas. Major improvements include a new roof, a recently updated furnace, and a new hot water heater.
The layout includes a 1-bedroom apartment in the basement, a 2-bedroom apartment on the first floor, and a 3-bedroom apartment on the second floor. The offering is described as having 6 bedrooms and 4 bathrooms. There are two off-street parking spaces, with public water and public sewer. The property is located in the Sheepshead Bay neighborhood, within a short distance of the waterfront, popular restaurants, shopping, public transportation, and neighborhood conveniences. A tenant is currently in place in the rental unit and is willing to remain.
The layout includes a 1-bedroom apartment in the basement, a 2-bedroom apartment on the first floor, and a 3-bedroom apartment on the second floor. The offering is described as having 6 bedrooms and 4 bathrooms. There are two off-street parking spaces, with public water and public sewer. The property is located in the Sheepshead Bay neighborhood, within a short distance of the waterfront, popular restaurants, shopping, public transportation, and neighborhood conveniences. A tenant is currently in place in the rental unit and is willing to remain.
Key Highlights
- Attached 4‑story two‑family built in 1955 with 2,992 SF total, including a fully finished basement with separate entrance
- 6 bedrooms and 4 bathrooms total, with layout featuring 1‑bed basement apartment, 2‑bed first‑floor apartment, and 3‑bed second‑floor apartment
- Updates include new/updated kitchens, new hardwood floors, and renovated bathrooms finished with custom Italian stone
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
$104,785
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
8.73%
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%
$2,095,700
$2.1M
Cap Rate 7%
$1,496,929
$1.5M
Cap Rate 9%
$1,164,278
$1.2M
Market Conditions
NOI Build-Up for 2,992 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
$152.6K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$149.7K $50.03/SF
− OpEx
−$44.9K −$15.01/SF
NOI
$104.8K $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%
$2,095,700
Cap Rate 7%
$1,496,929
Cap Rate 9%
$1,164,278
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $104,785 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,343 @ 7.0% cap · market cap 7.61%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,416 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 - Attached two-family with updated kitchens, renovated baths, hardwood floors, and a fully finished basement with separate entrance.
Where is this duplex located?
The property is located at 2462 Bragg St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,888.
What are key features of this property?
This property features: Attached 4‑story two‑family built in 1955 with 2,992 SF total, including a fully finished basement with separate entrance; 6 bedrooms and 4 bathrooms total, with layout featuring 1‑bed basement apartment, 2‑bed first‑floor apartment, and 3‑bed second‑floor apartment; Updates include new/updated kitchens, new hardwood floors, and renovated bathrooms finished with custom Italian stone
