Two-Family Duplex with Full
For Sale
$980,000
2717 W 16th Street, Brooklyn, NY 11224
MULTI_FAMILY - Brooklyn, NY
Property Size2,160 SF
Lot Size0.05 Acres
Price / SF$453.70
Days on Market97
Property Features for 2717 W 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
M1-2
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bathroom 3
Interior features
Laundry Area, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Coney Island
Standard status
Active
Size
2,160 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3327
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Wood Frame
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Ping Chen
(917) 536-3632
Added: May 29
Changed: Aug 4
Last Checked: Sep 2 at 11:06AM
MLS# 501839
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.
Semi-attached two-family duplex featuring a functional 2-bedroom over 2-bedroom layout. Each unit includes a living room, dining room, kitchen, and one full bathroom. The property also offers a full basement accessible through a separate front entrance, with a storage area and a 3/4 bathroom for additional usable space and flexibility.
Set on a 20' x 118' lot in an M1-2 zoning district, the home has a wood-frame exterior and a flat roof. Interior features include a laundry area plus refrigerator and stove, and finishes include tile and hardwood flooring. Built in 1915, the duplex is being delivered vacant at closing.
Commuters have convenient access to the D, F, N, and Q subway lines, along with multiple bus routes and major roadways. The property is also described as minutes from the Coney Island Boardwalk and beach, Luna Park, the New York Aquarium, and Caesar's Bay Shopping Center, with nearby shopping centers, supermarkets, restaurants, schools, and parks.
Set on a 20' x 118' lot in an M1-2 zoning district, the home has a wood-frame exterior and a flat roof. Interior features include a laundry area plus refrigerator and stove, and finishes include tile and hardwood flooring. Built in 1915, the duplex is being delivered vacant at closing.
Commuters have convenient access to the D, F, N, and Q subway lines, along with multiple bus routes and major roadways. The property is also described as minutes from the Coney Island Boardwalk and beach, Luna Park, the New York Aquarium, and Caesar's Bay Shopping Center, with nearby shopping centers, supermarkets, restaurants, schools, and parks.
Key Highlights
- Semi‑attached two‑family duplex with 2‑bedroom over 2‑bedroom layout
- 20' x 118' lot and 0.0545‑acre lot size
- Full basement with separate front entrance plus storage and a 3/4 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
$75,647
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
7.72%
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%
$1,512,940
$1.5M
Cap Rate 7%
$1,080,671
$1.1M
Cap Rate 9%
$840,522
$840.5K
Market Conditions
NOI Build-Up for 2,160 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
$110.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$108.1K $50.03/SF
− OpEx
−$32.4K −$15.01/SF
NOI
$75.6K $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%
$1,512,940
Cap Rate 7%
$1,080,671
Cap Rate 9%
$840,522
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.6K – $1.26M
NOI $75,647 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 6.73%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
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 - Semi-attached two-family home on a 0.0545-acre lot with a full basement and two full kitchens.
Where is this duplex located?
The property is located at 2717 W 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Semi‑attached two‑family duplex with 2‑bedroom over 2‑bedroom layout; 20' x 118' lot and 0.0545‑acre lot size; Full basement with separate front entrance plus storage and a 3/4 bathroom
