Brick Duplex With Built-In
New
For Sale
$1,499,000
109 70th St, Brooklyn, NY 11209
Two apartments are complemented by a finished basement, separate entrances, and rear access to built-in parking.
Property Size2,256 SF
Days on Market2
Property Features for 109 70th St
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,022
Building Details
Building Size
2,256 SF
Year Built
1925
Stories
2
Listing Agency:
RE/MAX Edge
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Elliman
Added: Sep 15
Last Checked: Sep 15 at 2:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Edge
Investment Insights
Based on property information with market context.
This 1925 brick duplex contains two residential apartments arranged over a finished basement. The upper apartment has three bedrooms, a formal living room, dining room, and eat-in kitchen. The lower apartment includes two bedrooms, a large living room, dining room, and eat-in kitchen, with a layout that can be converted to three bedrooms. The basement has a separate front entrance and direct rear access from the garage.
The building measures 20x62 ft on a 20x100 ft lot and includes a rear double-car built-in garage with parking for up to 4 cars. A wide community driveway provides garage access. The property is at 109 70th St in Brooklyn’s Bay Ridge area, near shopping, restaurants, schools, parks, and public transportation. WalkScore is 97, TransitScore is 86, and BikeScore is 82.
The building measures 20x62 ft on a 20x100 ft lot and includes a rear double-car built-in garage with parking for up to 4 cars. A wide community driveway provides garage access. The property is at 109 70th St in Brooklyn’s Bay Ridge area, near shopping, restaurants, schools, parks, and public transportation. WalkScore is 97, TransitScore is 86, and BikeScore is 82.
Key Highlights
- Two‑family brick home with 3‑bedroom and 2‑bedroom apartments
- Finished basement with separate front entrance and garage access
- Rear double‑car built‑in garage with parking for up to 4 cars
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
$79,009
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
5.27%
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%
$1,580,180
$1.6M
Cap Rate 7%
$1,128,700
$1.1M
Cap Rate 9%
$877,878
$877.9K
Market Conditions
NOI Build-Up for 2,256 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
$115.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.9K $50.03/SF
− OpEx
−$33.9K −$15.01/SF
NOI
$79.0K $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%
$1,580,180
Cap Rate 7%
$1,128,700
Cap Rate 9%
$877,878
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$987.6K – $1.32M
NOI $79,009 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$983.9K
$860.9K – $1.15M
NOI $68,873 @ 7.0% cap · market cap 4.59%
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,758 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,760
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments are complemented by a finished basement, separate entrances, and rear access to built-in parking.
Where is this duplex located?
The property is located at 109 70th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Two‑family brick home with 3‑bedroom and 2‑bedroom apartments; Finished basement with separate front entrance and garage access; Rear double‑car built‑in garage with parking for up to 4 cars
