Semi-Attached Duplex with Finished
For Sale
$669,000
515 E 40th Street, Brooklyn, NY 11203
Residential, Duplex, Brooklyn, NY
Property Size1,264 SF
Lot Size0.05 Acres
Price / SF$529.27
Days on Market475
Property Features for 515 E 40th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Patio and Porch features
Patio, Porch
Interior features
A/C Unit - Window, Laundry Area, Microwave, Patio Garden, Porch, Refrigerator, Stove
Basement
Finished, Full
Subdivision
East Flatbush
Standard status
Active
Size
1,264 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5378
Amenities
fully fenced backyard
utility shed
active solar panels
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Architectural style
Other
Listing Agency:
Century 21 Achievers
Listed By:
Andre Hanniford
(718) 758-0600
Added: Jul 10, 2025
Changed: Oct 20
Last Checked: Oct 27 at 11:06AM
MLS# 494102
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.
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Investment Insights
Based on property information with market context.
This 1,264-square-foot, 3-bedroom semi-attached duplex includes a finished basement with its own entrance and two bathrooms. Hardwood and tile flooring, window-unit A/C, a laundry area, and ample closet storage contribute to the interior layout. The kitchen includes a refrigerator, stove, and microwave, while the home also provides a patio and porch.
Outdoor features include a fully fenced backyard, utility shed, and active solar panels mounted on the roof. A new boiler and water heater are also in place. Built in 1920 with wood-frame construction, the property occupies 0.0459 acres and is zoned R4. The home is near shops, parks, and public transportation in East Flatbush, with the address at 515 E 40th Street in Brooklyn.
Outdoor features include a fully fenced backyard, utility shed, and active solar panels mounted on the roof. A new boiler and water heater are also in place. Built in 1920 with wood-frame construction, the property occupies 0.0459 acres and is zoned R4. The home is near shops, parks, and public transportation in East Flatbush, with the address at 515 E 40th Street in Brooklyn.
Key Highlights
- 3‑bedroom duplex with 1,264 square feet of property size
- Finished basement with a separate entrance
- Active solar panels attached to the roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,267
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$885,340
$885.3K
Cap Rate 7%
$632,386
$632.4K
Cap Rate 9%
$491,856
$491.9K
Market Conditions
NOI Build-Up for 1,264 SF
Gross rent
$64.5K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$63.2K $50.03/SF
− OpEx
−$19.0K −$15.01/SF
NOI
$44.3K $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 Rate 5%
$885,340
Cap Rate 7%
$632,386
Cap Rate 9%
$491,856
Alternative Uses
Best Use
Multifamily LT 5
$632.4K
$553.3K – $737.8K
NOI $44,267 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$551.3K
$482.4K – $643.2K
NOI $38,589 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$1.05M
$915.8K – $1.22M
NOI $73,261 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,460
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - R4-zoned residence with solar panels, a fenced backyard, and separate basement access.
Where is this duplex located?
The property is located at 515 E 40th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: 3‑bedroom duplex with 1,264 square feet of property size; Finished basement with a separate entrance; Active solar panels attached to the roof
