Renovated Two-Family Home in Bay
For Sale
$1,729,000
Pending
270 91st St, Brooklyn, NY 11209
Completely renovated two-family home with modern luxury and exceptional craftsmanship.
Property Size2,312 SF
Lot Size0.05 Acres
Days on Market171
Property Features for 270 91st St
General Information
Standard status
Pending
Size
2,312 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,795
Building Details
Building Size
2,312 SF
Year Built
1925
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang
(917) 708-9966
Source:
Elliman
Added: Mar 10
Changed: Aug 26
Last Checked: Aug 26 at 11:26AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Located on a tree-lined block in Bay Ridge, this renovated two-family home features modern luxury and craftsmanship. The residence has been rebuilt from top to bottom and includes two newly installed steel beams for structural support, a new electrical system with three electric meters, and two gas meters. The first-floor unit features a 3-bedroom, 2-bathroom layout with bathrooms finished with vanities. The second-floor unit also offers a 3-bedroom, 2-bathroom layout and a private balcony. Each bathroom includes exhaust fans and built-in heating. Additional features include a full finished basement with high ceilings and a separate front entrance. The renovation includes new flooring, new roof coating, two new water heaters, new plumbing, new electrical, and new heating systems throughout. Each floor is equipped with its own thermostat and dedicated heating system. The property is move-in ready.
Key Highlights
- Completely renovated two‑family home with modern luxury and exceptional craftsmanship.
- Turnkey property with comprehensive upgrades: new flooring, roof coating, water heaters, plumbing, electrical, and heating systems.
- Two newly installed steel beams provide superior structural support.
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
$80,970
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
4.68%
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%
$1,619,400
$1.6M
Cap Rate 7%
$1,156,714
$1.2M
Cap Rate 9%
$899,667
$899.7K
Market Conditions
NOI Build-Up for 2,312 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
$117.9K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$115.7K $50.03/SF
− OpEx
−$34.7K −$15.01/SF
NOI
$81.0K $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%
$1,619,400
Cap Rate 7%
$1,156,714
Cap Rate 9%
$899,667
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,970 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$1.01M
$882.3K – $1.18M
NOI $70,583 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$1.91M
$1.68M – $2.23M
NOI $134,004 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,153
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
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 - Completely renovated two-family home with modern luxury and exceptional craftsmanship.
Where is this duplex located?
The property is located at 270 91st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,729,000.
What are key features of this property?
This property features: Completely renovated two‑family home with modern luxury and exceptional craftsmanship.; Turnkey property with comprehensive upgrades: new flooring, roof coating, water heaters, plumbing, electrical, and heating systems.; Two newly installed steel beams provide superior structural support.
