Three-Family Home with Private
For Sale
$1,398,000
1717 78th Street, Brooklyn, NY 11214
Residential Income, Brooklyn, NY
Property Size2,600 SF
Lot Size0.05 Acres
Price / SF$537.69
Days on Market521
Property Features for 1717 78th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R5
Bedrooms
5
Bathrooms
6
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 4
Parking features
On Street
Basement
Full, Unfinished
Subdivision
Bensonhurst
Standard status
Active
APN
06248-0078
Size
2,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8135
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Building Details
Year built
1915
Floors in Building
3
Number of units
3
Building materials
Aluminum Siding, Stone, Vinyl Siding
Listing Agency:
Anne Lopa Real Estate
(718) 227-1111
Listed By:
Ann Lopa
(917) 364-4755
Added: Apr 11, 2025
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 2502004
Copyright © 2026 Staten Island Board of Realtors. 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.
This 2,600-square-foot three-family property, built in 1915, includes three apartments with open living areas, natural light, and generous closet space. Two units were renovated 5 and 9 years ago and include stainless steel appliances; the remaining apartment has been maintained with a retro finish. A first-floor kitchen opens to a private yard with garden and patio areas. The basement provides a second exterior entry and washer/dryer hookups.
Located at 1717 78th Street in Brooklyn, the property is approximately 1/2 a block from trains and buses, with parks, shopping, restaurants, and schools nearby. Two apartments are vacant. Additional features include a roof approximately 4 years old, replacement windows installed 2 to 15 years ago, hardwood floors, hot water and natural gas heating, public sewer, and on-street parking. The property has 4 gas meters and 3 electric meters and is zoned R5.
Located at 1717 78th Street in Brooklyn, the property is approximately 1/2 a block from trains and buses, with parks, shopping, restaurants, and schools nearby. Two apartments are vacant. Additional features include a roof approximately 4 years old, replacement windows installed 2 to 15 years ago, hardwood floors, hot water and natural gas heating, public sewer, and on-street parking. The property has 4 gas meters and 3 electric meters and is zoned R5.
Key Highlights
- Three‑family property with 2,600 square feet on a 0.0459‑acre lot
- Two apartments are vacant
- Two apartments renovated 5 and 9 years ago; stainless steel appliances included
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
$70,914
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
5.07%
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%
$1,418,280
$1.4M
Cap Rate 7%
$1,013,057
$1.0M
Cap Rate 9%
$787,933
$787.9K
Market Conditions
NOI Build-Up for 2,600 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
$106.1K $40.80/SF
− Vacancy
−$4.8K −$1.84/SF
EGI
$101.3K $38.96/SF
− OpEx
−$30.4K −$11.69/SF
NOI
$70.9K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,418,280
Cap Rate 7%
$1,013,057
Cap Rate 9%
$787,933
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.4K – $1.18M
NOI $70,914 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$907.9K
$794.4K – $1.06M
NOI $63,555 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,170 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,900
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - R5-zoned multifamily property with updated apartments, transit access, and two vacant units.
Where is this triplex located?
The property is located at 1717 78th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Three‑family property with 2,600 square feet on a 0.0459‑acre lot; Two apartments are vacant; Two apartments renovated 5 and 9 years ago; stainless steel appliances included
