Duplex Residence with Private
For Sale
$1,595,000
395 S 2ND Street 1, Brooklyn, NY 11211
Multi-level three-bedroom duplex unit with central air, in-unit laundry, and a private backyard for outdoor living.
Property Size1,307 SF
Days on Market43
Property Features for 395 S 2ND Street 1
General Information
Standard status
Active
Size
1,307 SF
Property subtype
Duplex
Amenities
private backyard
central air conditioning
in-unit laundry
dishwasher
Building Details
Building Size
1,307 SF
Year Built
2003
Listing Agency:
Serhant
Listed By:
Eric Shostak
(516) 761-3086
Source:
Serhant
Added: Jul 27
Changed: Sep 5
Last Checked: Sep 7 at 7:52AM
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 Serhant
Investment Insights
Based on property information with market context.
Unit 1 at 395 S 2nd Street is a multi-level duplex residence with a townhouse-like layout and a private backyard. The main level is organized around an open kitchen, dining, and living area, anchored by a kitchen with custom cabinetry, stone countertops, new stainless steel appliances, and a generous breakfast bar.
Upstairs, the primary suite includes an en suite bathroom. The lower level adds two additional rooms and a second full bathroom, along with a newly installed vented Miele washer and dryer for in-unit laundry convenience. Central air provides year-round comfort. The home is eligible for a 421a tax abatement through 2031, and it was built in 2003. The home also offers easy transit access, with the L and G trains about a 6-minute walk and the J, M, and Z trains about a 9-minute walk.
The home is currently configured as a three-bedroom residence; building records indicate a one-bedroom.
Upstairs, the primary suite includes an en suite bathroom. The lower level adds two additional rooms and a second full bathroom, along with a newly installed vented Miele washer and dryer for in-unit laundry convenience. Central air provides year-round comfort. The home is eligible for a 421a tax abatement through 2031, and it was built in 2003. The home also offers easy transit access, with the L and G trains about a 6-minute walk and the J, M, and Z trains about a 9-minute walk.
The home is currently configured as a three-bedroom residence; building records indicate a one-bedroom.
Key Highlights
- Private backyard off a multi‑level duplex unit
- Open kitchen, dining, and living area with breakfast bar
- Kitchen with custom cabinetry, stone countertops, and new stainless steel appliances
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
$45,773
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
2.87%
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%
$915,460
$915.5K
Cap Rate 7%
$653,900
$653.9K
Cap Rate 9%
$508,589
$508.6K
Market Conditions
NOI Build-Up for 1,307 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
$66.7K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$65.4K $50.03/SF
− OpEx
−$19.6K −$15.01/SF
NOI
$45.8K $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%
$915,460
Cap Rate 7%
$653,900
Cap Rate 9%
$508,589
Alternative Uses
Best Use
Multifamily LT 5
$653.9K
$572.2K – $762.9K
NOI $45,773 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$570.0K
$498.8K – $665.0K
NOI $39,901 @ 7.0% cap · market cap 2.50%
Theoretical Best
Specialty Retail
$1.08M
$946.9K – $1.26M
NOI $75,754 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
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 - Multi-level three-bedroom duplex unit with central air, in-unit laundry, and a private backyard for outdoor living.
Where is this duplex located?
The property is located at 395 S 2ND Street 1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Private backyard off a multi‑level duplex unit; Open kitchen, dining, and living area with breakfast bar; Kitchen with custom cabinetry, stone countertops, and new stainless steel appliances
