East New York Two-Family
428 Newport Street Brooklyn, NY 11207
428 Newport Street, Brooklyn, NY, 11207
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For Sale
Contact for pricing
Two-family brick home in active Brooklyn market, tenants in place.
Property Size2,000 SF
Price / SF$399.50
Days on Market60
Property Features for 428 Newport Street
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing Agency
Charles Rutenberg Realty Inc Plainview
Listed by
Jaleel Mussington · License #10401334023
Source
Crexi
Added: May 20 Checked: Jul 17 at 4:00 am
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 Plainview
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
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.0k | $51.00 |
| − Vacancy | −$1.9k | −$0.97 |
| EGI | $100.1k | $50.03 |
| − OpEx | −$30.0k | −$15.01 |
| NOI | $70.0k | $35.02 |
2,000 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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
