Two-Family Home with Extra
For Sale
$2,150,000
849 73rd St, Brooklyn, NY 11228
Two-family property sold with an extra lot for room to add a future dwelling.
Property Size1,820 SF
Days on Market70
Property Features for 849 73rd St
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,258
Building Details
Building Size
1,820 SF
Year Built
1925
Stories
2
Listing Agency:
RE/MAX Elite
(718) 667-8000
Listed By:
Hanan Abu Zahriyeh · License #10401291224
(718) 667-8000
Source:
Elliman
Added: Jun 22
Changed: Aug 25
Last Checked: Aug 29 at 9:47AM
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 Elite
Investment Insights
Based on property information with market context.
This for-sale two-family property includes an extra lot, giving the next owner flexibility beyond the existing residence. The offering is positioned for buyers who want to maintain current income potential while also evaluating room to add an additional two-family dwelling on-site, based on the included lot.
The property is located in Brooklyn with reported convenient access to local subway service and express buses, supporting straightforward commuting to Manhattan. The surrounding area is described as being near the 3rd and 5th Avenue commercial corridors, with nearby dining and shopping options. Recreation and waterfront access are also referenced, including Shore Road Park and the waterfront promenade.
For tenant-focused buyers and investors, the two-family configuration can support separate household occupancy, while the included lot adds a planning option for expansion or multi-generational living arrangements. Developers may also find the lot-inclusive structure practical if they are specifically targeting the ability to add a further two-family dwelling, subject to applicable approvals.
The property is located in Brooklyn with reported convenient access to local subway service and express buses, supporting straightforward commuting to Manhattan. The surrounding area is described as being near the 3rd and 5th Avenue commercial corridors, with nearby dining and shopping options. Recreation and waterfront access are also referenced, including Shore Road Park and the waterfront promenade.
For tenant-focused buyers and investors, the two-family configuration can support separate household occupancy, while the included lot adds a planning option for expansion or multi-generational living arrangements. Developers may also find the lot-inclusive structure practical if they are specifically targeting the ability to add a further two-family dwelling, subject to applicable approvals.
Key Highlights
- 1925‑built two‑family property
- Sold with an extra lot for room to build an additional two‑family dwelling
- Includes potential for expansion or creating a multi‑generational family compound
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
$63,739
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
2.96%
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%
$1,274,780
$1.3M
Cap Rate 7%
$910,557
$910.6K
Cap Rate 9%
$708,211
$708.2K
Market Conditions
NOI Build-Up for 1,820 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
$92.8K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$91.1K $50.03/SF
− OpEx
−$27.3K −$15.01/SF
NOI
$63.7K $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%
$1,274,780
Cap Rate 7%
$910,557
Cap Rate 9%
$708,211
Alternative Uses
Best Use
Multifamily LT 5
$910.6K
$796.7K – $1.06M
NOI $63,739 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$793.8K
$694.5K – $926.1K
NOI $55,563 @ 7.0% cap · market cap 2.58%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,487 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 sold with an extra lot for room to add a future dwelling.
Where is this duplex located?
The property is located at 849 73rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 1925‑built two‑family property; Sold with an extra lot for room to build an additional two‑family dwelling; Includes potential for expansion or creating a multi‑generational family compound
