Two-Family Brick
New
For Sale
$999,999
1049 E 56th Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size2,380 SF
Lot Size0.05 Acres
Price / SF$420.17
Days on Market4
Property Features for 1049 E 56th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
East Flatbush
Standard status
Active
Size
2,380 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7672
Building Details
Year built
1960
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
JiaJie (Kai) Zheng
(646) 407-6668
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 3:06PM
MLS# 504916
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 2,380-square-foot brick duplex contains two residences: a two-bedroom unit on the first floor and a three-bedroom residence spanning the second and third floors. The upper unit includes a walk-in closet in the primary bedroom. Hardwood and tile flooring, a refrigerator, and a stove are among the interior features. The building dates to 1960 and sits on a 20-by-100-foot lot; the building footprint measures 20 by 37 feet. Zoning is R3-2.
The property is at 1049 E 56th Street in Brooklyn, near supermarkets, restaurants, and the B82 bus, with the waterfront a short distance away. Delivery is vacant at closing.
The property is at 1049 E 56th Street in Brooklyn, near supermarkets, restaurants, and the B82 bus, with the waterfront a short distance away. Delivery is vacant at closing.
Key Highlights
- Two residences: a first‑floor two‑bedroom unit and a three‑bedroom duplex on floors two and three
- 2,380 square feet on a 20‑by‑100‑foot lot; building measures 20 by 37 feet
- R3‑2 zoning
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
$83,352
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
8.34%
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%
$1,667,040
$1.7M
Cap Rate 7%
$1,190,743
$1.2M
Cap Rate 9%
$926,133
$926.1K
Market Conditions
NOI Build-Up for 2,380 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
$121.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$119.1K $50.03/SF
− OpEx
−$35.7K −$15.01/SF
NOI
$83.4K $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%
$1,667,040
Cap Rate 7%
$1,190,743
Cap Rate 9%
$926,133
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,352 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$1.04M
$908.2K – $1.21M
NOI $72,659 @ 7.0% cap · market cap 7.27%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,945 @ 7.0% cap · market cap 13.79%
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
2,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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?
Duplex - Two separate residences include a ground-floor two-bedroom unit and an upper-level three-bedroom duplex.
Where is this duplex located?
The property is located at 1049 E 56th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Two residences: a first‑floor two‑bedroom unit and a three‑bedroom duplex on floors two and three; 2,380 square feet on a 20‑by‑100‑foot lot; building measures 20 by 37 feet; R3‑2 zoning
