Attached Two-Family Row
For Sale
Contact for pricing
2462 BRAGG ST., Brooklyn, NY 11235
Updated two-family attached home with hardwood floors, renovated baths, a full basement, and two off-street parking spaces.
Property Size2,244 SF
Price / SF$534.71
Days on Market65
Property Features for 2462 BRAGG ST.
General Information
Standard status
Active
Size
2,244 SF
Total Parking Spaces
2
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Amenities
updated kitchen
hardwood floors
renovated bathrooms
custom Italian stone baseboard heat
natural gas
asphalt roof
excellent natural light
public water
public sewer
newer roof
updated furnace
hot water heater
Building Details
Year Built
1955
Stories
3
Listing Agency:
LOMBARDO HOMES & ESTATES
Listed By:
Joseph Lombardo · License #10311204851
(516) 200-6448
Source:
Crexi
Added: Jul 9
Changed: Sep 3
Last Checked: Sep 10 at 6:18AM
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.
This updated attached two-family row house offers approximately 2,244 square feet across a full three-story layout. The property includes 5 bedrooms and 4 bathrooms, along with a full basement. Interior highlights noted in the offering include an updated kitchen, hardwood floors, and renovated bathrooms finished with custom Italian stone. The home is described as having custom Italian stone baseboard heat and natural gas. The exterior is reported to include an asphalt roof, and major mechanical updates include a newer roof (approximately 2 years old), a recently updated furnace, and a hot water heater.
The property features two off-street parking spaces and is served by public water and public sewer. It is located in the Sheepshead Bay neighborhood of Brooklyn, with a Walk Score of 94 and proximity to the Sheepshead Bay waterfront, restaurants, shopping, and public transportation.
As a residential income property, the home currently has a tenant in place in the rental unit who is willing to remain, supporting both owner-occupant and investor use.
The property features two off-street parking spaces and is served by public water and public sewer. It is located in the Sheepshead Bay neighborhood of Brooklyn, with a Walk Score of 94 and proximity to the Sheepshead Bay waterfront, restaurants, shopping, and public transportation.
As a residential income property, the home currently has a tenant in place in the rental unit who is willing to remain, supporting both owner-occupant and investor use.
Key Highlights
- Updated 2‑family attached home built in 1955 with approx. 2,244 SF, 5 bedrooms and 4 bathrooms
- Owner unit features updated kitchen, hardwood floors, and renovated bathrooms with custom Italian stone
- Custom Italian stone baseboard heat with natural gas; full basement in the home
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
$78,589
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
6.55%
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%
$1,571,780
$1.6M
Cap Rate 7%
$1,122,700
$1.1M
Cap Rate 9%
$873,211
$873.2K
Market Conditions
NOI Build-Up for 2,244 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
$114.4K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.3K $50.03/SF
− OpEx
−$33.7K −$15.01/SF
NOI
$78.6K $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%
$1,571,780
Cap Rate 7%
$1,122,700
Cap Rate 9%
$873,211
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$982.4K – $1.31M
NOI $78,589 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$978.7K
$856.3K – $1.14M
NOI $68,507 @ 7.0% cap · market cap 5.71%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,062 @ 7.0% cap · market cap 10.84%
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
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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 - Updated two-family attached home with hardwood floors, renovated baths, a full basement, and two off-street parking spaces.
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: Updated 2‑family attached home built in 1955 with approx. 2,244 SF, 5 bedrooms and 4 bathrooms; Owner unit features updated kitchen, hardwood floors, and renovated bathrooms with custom Italian stone; Custom Italian stone baseboard heat with natural gas; full basement in the home
