East New York Two-Family
For Sale
$799,000
428 Newport Street, Brooklyn, NY 11207
Two-family brick home in active Brooklyn market, tenants in place.
Property Size2,000 SF
Price / SF$399.50
Days on Market220
Property Features for 428 Newport Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,739
Amenities
No, No, Driveway
Radiant
Square Feet
Finished, Yes
1st Floor Bedrm, First Floor Full Bath, Public
First Floor Bedroom, First Floor Full Bath
1st Fl Master Bedroom
No
Brick
Driveway
Building Details
Year Built
1910
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Jaleel Mussington · License #977245
(516) 575-7500
Source:
Compass
Added: Jan 31
Changed: Sep 7
Last Checked: Sep 7 at 11:22AM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
This solid brick, semi-attached two-family home is located in East New York, Brooklyn. The property offers an opportunity to own in an active market. The building contains one 2-bedroom, 1-bath unit and one 3-bedroom, 1-bath unit. The property is being sold with tenants in place. The property size is approximately 2000 square feet. Some updating is needed.
Key Highlights
- Two‑family brick home in East New York
- Strong income potential with two units: a 2‑bedroom and a 3‑bedroom
- Opportunity to owner‑occupy or build a rental portfolio
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
$70,043
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
8.77%
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%
$1,400,860
$1.4M
Cap Rate 7%
$1,000,614
$1.0M
Cap Rate 9%
$778,256
$778.3K
Market Conditions
NOI Build-Up for 2,000 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
$102.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.1K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $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%
$1,400,860
Cap Rate 7%
$1,000,614
Cap Rate 9%
$778,256
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.5K – $1.17M
NOI $70,043 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 7.64%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,658
Businesses Nearby
Explore this area
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
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 brick home in active Brooklyn market, tenants in place.
Where is this duplex located?
The property is located at 428 Newport Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family brick home in East New York; Strong income potential with two units: **a 2‑bedroom and a 3‑bedroom**; Opportunity to owner‑occupy or build a rental portfolio
