Two-Family Home with Finished
For Sale
$1,199,888
2462 Bragg Street, Brooklyn, NY 11235
MULTI_FAMILY - Other - Brooklyn, NY
Property Size2,992 SF
Lot Size0.50 Acres
Price / SF$401.03
Days on Market34
Property Features for 2462 Bragg Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 4, Basement
Window features
ENERGY STAR Qualified WIndows
Patio and Porch features
Porch
Interior features
Washer/Dryer Hookup
Fencing
Fenced
Basement
Full, Walk-Out Access
Lot features
Back Yard, Near Public Transit, Near School, Near Shops
Elementary school
Ps 254 Dag Hammarskjold
Middle school
Jhs 14 Shell Bank
High school
Leon M Goldstein High School For The Sciences
Elementary school district
Brooklyn 22
Middle school district
Brooklyn 22
High school district
Brooklyn 22
Standard status
Active
APN
07427-0031
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7194
Utilities
Sewer type
Public Sewer
Heating system
Energy Star Qualified Equipment (Heating)
Cooling system
ENERGY STAR Qualified Equipment
Water source
Public
Building Details
Year built
1955
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Frame
Architectural style
Other
Listing Agency:
Lombardo Homes & Estates
(516) 200-6448
Listed By:
Joseph V. Lombardo CBR · License #10311204851
(516) 200-6448
Added: Jul 8
Changed: Aug 2
Last Checked: Aug 10 at 11:06AM
MLS# 1023760
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This attached two-family home is arranged as a four-story structure including the fully finished basement. The property totals 2,992 square feet and features 6 bedrooms and 4 bathrooms, with a layout that includes a 1-bedroom apartment in the basement (with a separate entrance) and a 2-bedroom apartment on the 1st floor plus a 3-bedroom apartment on the 2nd floor. Flooring includes hardwood and ceramic tile, and the home includes washer/dryer hookup.
Recent updates are highlighted by new, updated kitchens and renovated bathrooms with custom Italian stone. The home also features new baseboard heat with natural gas, and mechanical improvements include a newly installed roof, a recently updated furnace, and a new hot water heater. There are two off-street parking spaces.
Utilities are provided through public water and public sewer. The property is located in the Sheepshead Bay neighborhood and is described as offering access to the nearby waterfront, restaurants, shopping, public transportation, and other neighborhood conveniences.
Recent updates are highlighted by new, updated kitchens and renovated bathrooms with custom Italian stone. The home also features new baseboard heat with natural gas, and mechanical improvements include a newly installed roof, a recently updated furnace, and a new hot water heater. There are two off-street parking spaces.
Utilities are provided through public water and public sewer. The property is located in the Sheepshead Bay neighborhood and is described as offering access to the nearby waterfront, restaurants, shopping, public transportation, and other neighborhood conveniences.
Key Highlights
- 2,992 SF attached two‑family home with a fully finished basement
- Six bedrooms and four bathrooms across basement, first, and second floors
- Basement 1‑bedroom apartment has a separate entrance
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
Yes
Utilities to site
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 built in 1955 featuring a fully finished basement with separate entrance and public water and sewer.
Where is this duplex located?
The property is located at 2462 Bragg Street 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: 2,992 SF attached two‑family home with a fully finished basement; Six bedrooms and four bathrooms across basement, first, and second floors; Basement 1‑bedroom apartment has a separate entrance
