Sheepshead Bay Two-Family
For Sale
$1,369,000
2529 East 22nd Street, Brooklyn, NY 11235
Two-family home in Sheepshead Bay, delivered vacant.
Property Size2,256 SF
Lot Size0.06 Acres
Price / SF$606.83
Days on Market181
Property Features for 2529 East 22nd Street
General Information
Standard status
Active
Size
2,256 SF
Lot size
0.06 Acres
Property subtype
Multi Family Home
Zoning
R4
Building Details
Building Size
2,256 SF
Year Built
1925
Stories
2
Listing Agency:
Robert Defalco Realty
Listed By:
Michael Gentilesco
(718) 987-7900
Source:
Michaelfraulo
Added: Mar 9
Changed: Sep 4
Last Checked: Sep 3 at 1:04PM
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 Robert Defalco Realty
Investment Insights
Based on property information with market context.
This is a legal two-family, semi-attached home located at 2529 E 22nd Street in Sheepshead Bay. The property has a lot size of 25 X 100 and the house dimensions are 20 X 54, totaling 2256 square feet. The first floor features a living room/dining room combo, an eat-in kitchen, three bedrooms, a full bathroom, and a door leading to the backyard. The second floor mirrors this layout with a living room/dining room combo, an eat-in kitchen, three bedrooms, and a full bathroom. The basement is partially finished and includes a family room, a full bathroom, an open space, and a laundry & utilities room, with a rear door to the backyard. The house is well-maintained with hardwood floors throughout. The property features a shared driveway and is located close to shopping, schools, and public transportation. The house will be delivered vacant.
Key Highlights
- Legal two‑family home, delivered vacant.
- Located in Sheepshead Bay, close to shopping, schools, and public transportation.
- Features two units, each with a living room/dining room combo, eat‑in kitchen, 3 bedrooms, and a full bathroom.
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
$79,009
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
5.77%
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%
$1,580,180
$1.6M
Cap Rate 7%
$1,128,700
$1.1M
Cap Rate 9%
$877,878
$877.9K
Market Conditions
NOI Build-Up for 2,256 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
$115.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.9K $50.03/SF
− OpEx
−$33.9K −$15.01/SF
NOI
$79.0K $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%
$1,580,180
Cap Rate 7%
$1,128,700
Cap Rate 9%
$877,878
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$987.6K – $1.32M
NOI $79,009 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$983.9K
$860.9K – $1.15M
NOI $68,873 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,758 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,124
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 - Two-family home in Sheepshead Bay, delivered vacant.
Where is this duplex located?
The property is located at 2529 East 22nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Legal two‑family home, delivered vacant.; Located in Sheepshead Bay, close to shopping, schools, and public transportation.; Features two units, each with a living room/dining room combo, eat‑in kitchen, 3 bedrooms, and a full bathroom.
