Multi-Level Duplex with Unfinished
255 Covert Street TWNHSE, Brooklyn, NY 11207
For Sale
$1,325,000
Separate garden-level living space and upper-floor rooms support a range of residential configurations.
Property Size2,844 SF
Price / SF$465.89
Days on Market164
Property Features for 255 Covert Street TWNHSE
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Compass
Listed By:
JOSHUA GOLAN
(718) 415-4410
Source:
Penrealty
Added: Jun 1
Changed: Nov 9
Last Checked: Nov 10 at 4:06PM
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 Compass
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Investment Insights
Based on property information with market context.
This 1910 duplex is arranged across garden, first, and second floors, with a separate garden-level unit containing a living room, kitchen, full bath, and two bedrooms. The parlor level has a living room, dining area, and kitchen, while the upper floor includes three bedrooms and another full bath. An unfinished cellar provides additional space. The property is offered as-is.
At 255 Covert Street in Brooklyn’s Bushwick neighborhood, the property is near Roberta’s, Ops, Sey Coffee, House of Yes, and Elsewhere. Irving Square Park and Maria Hernandez Park are also nearby. L train service is available at Halsey Street Station, with J and Z trains at Chauncey Street Station.
At 255 Covert Street in Brooklyn’s Bushwick neighborhood, the property is near Roberta’s, Ops, Sey Coffee, House of Yes, and Elsewhere. Irving Square Park and Maria Hernandez Park are also nearby. L train service is available at Halsey Street Station, with J and Z trains at Chauncey Street Station.
Key Highlights
- Garden‑level unit includes a living room, kitchen, full bath, and two bedrooms
- Upper‑floor arrangement includes three bedrooms and a full bath
- Parlor level has separate living and dining areas, plus a kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,602
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,992,040
$2.0M
Cap Rate 7%
$1,422,886
$1.4M
Cap Rate 9%
$1,106,689
$1.1M
Market Conditions
NOI Build-Up for 2,844 SF
Gross rent
$145.0K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$142.3K $50.03/SF
− OpEx
−$42.7K −$15.01/SF
NOI
$99.6K $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 Rate 5%
$1,992,040
Cap Rate 7%
$1,422,886
Cap Rate 9%
$1,106,689
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.25M – $1.66M
NOI $99,602 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,824 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$2.35M
$2.06M – $2.75M
NOI $164,838 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
4,148
Businesses Nearby
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Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Brooklyn, NY
Properties on Market for Duplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate garden-level living space and upper-floor rooms support a range of residential configurations.
Where is this duplex located?
The property is located at 255 Covert Street TWNHSE Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Garden‑level unit includes a living room, kitchen, full bath, and two bedrooms; Upper‑floor arrangement includes three bedrooms and a full bath; Parlor level has separate living and dining areas, plus a kitchen
