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 Market1105
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 4, 2023
Changed: Sep 2
Last Checked: Sep 12 at 5:28AM
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
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 = 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
$74,736
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
7.12%
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%
$1,494,720
$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
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
$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 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%
$1,494,720
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.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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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
