Renovated Detached
For Sale
$1,850,000
473 77th Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size3,134 SF
Lot Size0.05 Acres
Price / SF$590.30
Days on Market832
Property Features for 473 77th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
9
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 7, Bathroom 5, Bedroom 6, Bedroom 9, Bathroom 1, Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 3, Bathroom 2
Basement
Finished
Subdivision
Bay Ridge
Standard status
Active
Size
3,134 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10550
Building Details
Year built
1920
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Ben Bay Realty Co
Listed By:
Phoebe F. Burger · License #PFB1940
(718) 680-6442
Added: Jun 17, 2024
Changed: Sep 15
Last Checked: Sep 26 at 10:06AM
MLS# 483960
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.
Investment Insights
Based on property information with market context.
This detached duplex in Bay Ridge provides 3,134 square feet across 4 stories, with 9 bedrooms and 4.5 bathrooms. The property was renovated and features a wood-frame structure, hardwood and tile flooring, and a shingle roof. Separate heating and hot-water systems serve the two-family configuration. The building measures 25x46, while the 0.0536-acre lot measures 29x80. Built in 1920, the property carries R6B zoning.
The location is near the R train and shopping, with an address at 473 77th Street in Brooklyn. Its combination of residential scale, multiple bedrooms, and separate building systems supports both owner occupancy and investment use as described in the property information.
The location is near the R train and shopping, with an address at 473 77th Street in Brooklyn. Its combination of residential scale, multiple bedrooms, and separate building systems supports both owner occupancy and investment use as described in the property information.
Key Highlights
- 3,134‑square‑foot detached duplex on a 0.0536‑acre lot
- 4‑story building with 9 bedrooms and 4.5 bathrooms
- 25x46 building on a 29x80 lot
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
$109,758
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
5.93%
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%
$2,195,160
$2.2M
Cap Rate 7%
$1,567,971
$1.6M
Cap Rate 9%
$1,219,533
$1.2M
Market Conditions
NOI Build-Up for 3,134 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
$159.8K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$156.8K $50.03/SF
− OpEx
−$47.0K −$15.01/SF
NOI
$109.8K $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%
$2,195,160
Cap Rate 7%
$1,567,971
Cap Rate 9%
$1,219,533
Alternative Uses
Best Use
Multifamily LT 5
$1.57M
$1.37M – $1.83M
NOI $109,758 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.59M
NOI $95,678 @ 7.0% cap · market cap 5.17%
Theoretical Best
Specialty Retail
$2.59M
$2.27M – $3.03M
NOI $181,647 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout with separate heating and hot-water systems.
Where is this duplex located?
The property is located at 473 77th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 3,134‑square‑foot detached duplex on a 0.0536‑acre lot; 4‑story building with 9 bedrooms and 4.5 bathrooms; 25x46 building on a 29x80 lot
