Brooklyn Home with
For Sale
$1,050,000
Pending
1470 Royce Street, Brooklyn, NY 11234
Six-bedroom home in Brooklyn's Georgetown neighborhood with parking.
Property Size2,134 SF
Days on Market1132
Property Features for 1470 Royce Street
General Information
Standard status
Pending
Size
2,134 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,159
Building Details
Year Built
2007
Listing Agency:
Citadel Circle Realty
(718) 717-8251
Listed By:
Royston J. Tulloch · License #10401280554
(347) 260-4269
Source:
Exitrealty
Added: Sep 24, 2023
Changed: Oct 25
Last Checked: Oct 12 at 7:11PM
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 Citadel Circle Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This semi-detached home is located in the Georgetown neighborhood of Brooklyn. The property features 6 bedrooms and 2.5 bathrooms. It includes kitchens, living rooms, and dining rooms. Hardwood flooring is present throughout the house. The construction is all brick. The property has a full finished basement, a large driveway able to accommodate 4 cars, a large backyard, and a garage.
Key Highlights
- Large driveway able to accommodate 4 cars easily
- Boasting 6 bedrooms and 2.5 bathrooms
- Full finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,736
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,720
$1.5M
Cap Rate 7%
$1,067,657
$1.1M
Cap Rate 9%
$830,400
$830.4K
Market Conditions
NOI Build-Up for 2,134 SF
Gross rent
$108.8K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$106.8K $50.03/SF
− OpEx
−$32.0K −$15.01/SF
NOI
$74.7K $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 Rate 5%
$1,494,720
Cap Rate 7%
$1,067,657
Cap Rate 9%
$830,400
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$934.2K – $1.25M
NOI $74,736 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$930.7K
$814.4K – $1.09M
NOI $65,149 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.06M
NOI $123,687 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,239
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Six-bedroom home in Brooklyn's Georgetown neighborhood with parking.
Where is this duplex located?
The property is located at 1470 Royce Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Large driveway able to accommodate 4 cars easily; Boasting 6 bedrooms and 2.5 bathrooms; Full finished basement
