Brick Duplex with Private
For Sale
$1,180,000
2678 E 29th Street, Brooklyn, NY 11235
Residential, Duplex, Brooklyn, NY
Property Size2,070 SF
Lot Size0.05 Acres
Price / SF$570.05
Days on Market94
Property Features for 2678 E 29th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Garage
Interior features
A/C Unit, Central Air, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,070 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7909
Amenities
garage
private driveway
backyard
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Shihui (Sylvia) Lin · License #SL4633
(646) 407-6668
Added: Jun 9
Changed: Sep 6
Last Checked: Sep 10 at 8:06AM
MLS# 502139
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 2,070-square-foot brick duplex was built in 1950 on a 0.0459-acre lot measuring 20 x 100 feet. The first floor includes a living room with hardwood flooring, kitchen, half bath, dining room, and access to the backyard. Upstairs are three bedrooms and a full bathroom. Central air, an A/C unit, refrigerator, stove, hardwood and tile flooring, a built-in garage, and a private driveway are among the property’s noted features.
The property is located in Brooklyn, NY 11235, near the B and Q subway lines, bus routes, and major roadways. Emmons Avenue is minutes away, with dining, shopping, and waterfront attractions. The home is zoned R4 and is associated with P.S. 52 Sheepshead Bay and I.S. 98 Bay Academy.
The property is located in Brooklyn, NY 11235, near the B and Q subway lines, bus routes, and major roadways. Emmons Avenue is minutes away, with dining, shopping, and waterfront attractions. The home is zoned R4 and is associated with P.S. 52 Sheepshead Bay and I.S. 98 Bay Academy.
Key Highlights
- 2,070 square feet on a 0.0459‑acre lot
- 20 x 100‑foot lot with a 20 x 36‑foot building size
- Brick construction with built‑in garage and private driveway
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
$72,495
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
6.14%
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%
$1,449,900
$1.4M
Cap Rate 7%
$1,035,643
$1.0M
Cap Rate 9%
$805,500
$805.5K
Market Conditions
NOI Build-Up for 2,070 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
$105.6K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$103.6K $50.03/SF
− OpEx
−$31.1K −$15.01/SF
NOI
$72.5K $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%
$1,449,900
Cap Rate 7%
$1,035,643
Cap Rate 9%
$805,500
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$906.2K – $1.21M
NOI $72,495 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$902.8K
$789.9K – $1.05M
NOI $63,195 @ 7.0% cap · market cap 5.36%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,977 @ 7.0% cap · market cap 10.17%
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
2,670
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
Check the figures for this property
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 - Two-family residence with garage parking, hardwood floors, central air, and a backyard.
Where is this duplex located?
The property is located at 2678 E 29th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: 2,070 square feet on a 0.0459‑acre lot; 20 x 100‑foot lot with a 20 x 36‑foot building size; Brick construction with built‑in garage and private driveway
