Turnkey Two-Family Brick
For Sale
$1,950,000
573 79th St, Brooklyn, NY 11209
Completely gut-renovated two-family with separate heating systems and a finished basement for added flexible living space.
Property Size2,600 SF
Price / SF$750
Days on Market52
Property Features for 573 79th St
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi Family
Additional Details
Clear Height
9 ft
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Ping Chen
(718) 612-3088
Source:
Elliman
Added: Jun 14
Changed: Jul 10
Last Checked: Aug 3 at 9:38AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Turnkey semi-detached two-family brick home with a shared 10-foot-wide driveway and a large garage. The property was completely gut-renovated approximately seven years ago and features quality materials and modern finishes throughout. Each level offers roughly 9-foot ceilings and abundant natural light, along with hardwood flooring and premium tile finishes. The first floor includes a sunroom, spacious living room, formal dining area, updated eat-in kitchen, three bedrooms, and one full bathroom. The second floor mirrors the layout with three bedrooms and one full bathroom, an eat-in kitchen, generous living and formal dining areas, and access to a private balcony. A fully finished basement adds additional usable space with a recreation room, laundry room, boiler room, and an additional 3/4 bathroom. The basement also includes a separate entrance and open space suitable for a home office or gym.
Set on a 25x100 lot on a quiet residential block in Bay Ridge, Brooklyn. The home is described as convenient to transportation, shopping, restaurants, parks, and top-rated schools, with Walk Score of 96 and Transit Score of 91 and a Bike Score of 81.
Designed for owner-occupancy or investment use, the two units are fully self-sufficient with separate boilers and furnaces, supporting independent comfort for each floor. With bright, open layouts and distinct living areas, the configuration is practical for tenants who value separation while still benefiting from the shared building structure and substantial garage and basement amenities.
Set on a 25x100 lot on a quiet residential block in Bay Ridge, Brooklyn. The home is described as convenient to transportation, shopping, restaurants, parks, and top-rated schools, with Walk Score of 96 and Transit Score of 91 and a Bike Score of 81.
Designed for owner-occupancy or investment use, the two units are fully self-sufficient with separate boilers and furnaces, supporting independent comfort for each floor. With bright, open layouts and distinct living areas, the configuration is practical for tenants who value separation while still benefiting from the shared building structure and substantial garage and basement amenities.
Key Highlights
- Completely gut‑renovated two‑family brick home built in 1925
- Approx. 2,600 SF total with 20x68 first floor + basement and 20x62 second floor layouts
- Separate boilers and furnaces for each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.6k | $51.00 |
| − Vacancy | −$2.5k | −$0.97 |
| EGI | $130.1k | $50.03 |
| − OpEx | −$39.0k | −$15.01 |
| NOI | $91.1k | $35.02 |
2,600 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,056 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$1.13M
$992.2K – $1.32M
NOI $79,375 @ 7.0% cap · market cap 4.07%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,240
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
Properties on Market for Duplexes in Brooklyn
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 gut-renovated two-family with separate heating systems and a finished basement for added flexible living space.
Where is this duplex located?
The property is located at 573 79th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Completely gut‑renovated two‑family brick home built in 1925; Approx. 2,600 SF total with 20x68 first floor + basement and 20x62 second floor layouts; Separate boilers and furnaces for each unit
