Brooklyn Two-Family with
For Sale
$1,680,000
480 84th Street, Brooklyn, NY 11209
Two-family property in prime Brooklyn location with income potential.
Property Size2,520 SF
Lot Size0.06 Acres
Price / SF$666.67
Days on Market620
Property Features for 480 84th Street
General Information
Standard status
Active
Size
2,520 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,769
Building Details
Year Built
1925
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Exitrealty
Added: Dec 15, 2024
Changed: Aug 25
Last Checked: Aug 26 at 7:01AM
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.
This semi-detached two-family property is situated on a 28 x 100 lot, featuring a building size of 20 x 60. The first floor offers 4 bedrooms and 1 bath, currently rented for $3,500 per month. The second floor includes 3 bedrooms and 1 bath, generating $2,500 per month. A finished basement adds to the property's appeal. The location is highly convenient, with easy access to transportation, shopping, schools, and parks. The property benefits from a commercial overlay. The location has a bike score of 80, indicating it is very bikeable, a walk score of 92, designating it as a walker's paradise, and a transit score of 83, showing excellent transit options. The property will be delivered vacant, presenting a great investment opportunity.
Key Highlights
- Delivery vacant, offering immediate occupancy or rental potential.
- High rental income potential: $3,500/month (1st floor) + $2,500/month (2nd floor).
- Excellent location with high walk, bike, and transit scores (92, 80, and 83 respectively).**
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
$88,255
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
5.25%
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%
$1,765,100
$1.8M
Cap Rate 7%
$1,260,786
$1.3M
Cap Rate 9%
$980,611
$980.6K
Market Conditions
NOI Build-Up for 2,520 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
$128.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$126.1K $50.03/SF
− OpEx
−$37.8K −$15.01/SF
NOI
$88.3K $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%
$1,765,100
Cap Rate 7%
$1,260,786
Cap Rate 9%
$980,611
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,255 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$1.10M
$961.7K – $1.28M
NOI $76,933 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$2.09M
$1.83M – $2.43M
NOI $146,059 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,763
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 - Two-family property in prime Brooklyn location with income potential.
Where is this duplex located?
The property is located at 480 84th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Delivery vacant, offering immediate occupancy or rental potential.; High rental income potential: $3,500/month (1st floor) + $2,500/month (2nd floor).; Excellent location with high walk, bike, and transit scores (92, 80, and 83 respectively).**
