Brick Duplex with Finished
For Sale
$2,250,000
674 54th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size2,280 SF
Lot Size0.05 Acres
Price / SF$986.84
Days on Market383
Property Features for 674 54th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sunset Park
Standard status
Active
Size
2,280 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8549
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile
Building materials
Brick
Roof type
Tile
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Aug 10, 2025
Changed: Aug 4
Last Checked: Aug 27 at 10:06PM
MLS# 494925
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 two-family brick duplex includes a finished basement for added extra space or storage. The building measures 20' by 57' and sits on a 20' by 100' lot. With 2,280 square feet, the property was built in 1920 and features tile flooring and a tile roof.
The home is zoned R7A and is also described with commercial zoning (C2-4). Interior features listed include a refrigerator and stove, and the room list includes two bathrooms.
674 54th Street, Brooklyn, NY 11220 is located in the Sunset Park area, close to shopping, transportation, and other amenities.
The home is zoned R7A and is also described with commercial zoning (C2-4). Interior features listed include a refrigerator and stove, and the room list includes two bathrooms.
674 54th Street, Brooklyn, NY 11220 is located in the Sunset Park area, close to shopping, transportation, and other amenities.
Key Highlights
- 20' x 57' building size
- 20' x 100' lot size
- 0.046 acres
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
$67,886
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
3.02%
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%
$1,357,720
$1.4M
Cap Rate 7%
$969,800
$969.8K
Cap Rate 9%
$754,289
$754.3K
Market Conditions
NOI Build-Up for 2,280 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
$101.2K $44.40/SF
− Vacancy
−$4.3K −$1.86/SF
EGI
$97.0K $42.54/SF
− OpEx
−$29.1K −$12.76/SF
NOI
$67.9K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,357,720
Cap Rate 7%
$969,800
Cap Rate 9%
$754,289
Alternative Uses
Best Use
Multifamily LT 5
$969.8K
$848.6K – $1.13M
NOI $67,886 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$868.6K
$760.0K – $1.01M
NOI $60,800 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,465 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 duplex with a finished basement on a 20-by-100 lot, zoned R7A and C2-4.
Where is this duplex located?
The property is located at 674 54th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 20' x 57' building size; 20' x 100' lot size; 0.046 acres
