Two-Family Duplex with
For Sale
$1,199,000
Pending
1259 78th St, Brooklyn, NY 11228
Two three-bedroom apartments share a substantial rear yard, with additional finished space and a separate exterior entrance.
Property Size1,714 SF
Days on Market67
Property Features for 1259 78th St
General Information
Standard status
Pending
Size
1,714 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,937
Building Details
Building Size
1,714 SF
Year Built
1920
Stories
2
Listing Agency:
Re/Max Edge
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Elliman
Added: Jul 5
Changed: Sep 8
Last Checked: Sep 8 at 8:41AM
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 Edge
Investment Insights
Based on property information with market context.
This semi-detached duplex contains two three-bedroom apartments within a building measuring 17' × 55', along with an enclosed rear staircase. The upper residence includes a front terrace and an interior stairway leading directly to the backyard. The first-floor apartment has a front porch and rear access to the outdoor area. A finished basement adds usable interior space and has its own side entrance.
The property occupies a 20' × 100' lot at 1259 78th St in Brooklyn's Dyker Heights neighborhood. Shopping, restaurants, schools, parks, and public transportation are located nearby. The property was built in 1920, with walkScore 85, transitScore 73, and bikeScore 59.
The property occupies a 20' × 100' lot at 1259 78th St in Brooklyn's Dyker Heights neighborhood. Shopping, restaurants, schools, parks, and public transportation are located nearby. The property was built in 1920, with walkScore 85, transitScore 73, and bikeScore 59.
Key Highlights
- Two three‑bedroom apartments in a semi‑detached duplex
- 17' × 55' building with an enclosed rear staircase
- 20' × 100' lot with a huge backyard
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
$60,027
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
5.01%
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%
$1,200,540
$1.2M
Cap Rate 7%
$857,529
$857.5K
Cap Rate 9%
$666,967
$667.0K
Market Conditions
NOI Build-Up for 1,714 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
$87.4K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$85.8K $50.03/SF
− OpEx
−$25.7K −$15.01/SF
NOI
$60.0K $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%
$1,200,540
Cap Rate 7%
$857,529
Cap Rate 9%
$666,967
Alternative Uses
Best Use
Multifamily LT 5
$857.5K
$750.3K – $1.00M
NOI $60,027 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$747.5K
$654.1K – $872.1K
NOI $52,327 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,343 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,485
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
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 - Two three-bedroom apartments share a substantial rear yard, with additional finished space and a separate exterior entrance.
Where is this duplex located?
The property is located at 1259 78th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two three‑bedroom apartments in a semi‑detached duplex; 17' × 55' building with an enclosed rear staircase; 20' × 100' lot with a huge backyard
