Fully Renovated Two-Family
For Sale
$1,798,888
Pending
1368 78th St, Brooklyn, NY 11228
Renovated semi-attached two-family residence with 7 bedrooms, 5 bathrooms, hardwood and tile floors, and separate furnace and boiler.
Property Size2,248 SF
Days on Market117
Property Features for 1368 78th St
General Information
Standard status
Pending
Size
2,248 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,922
Building Details
Building Size
2,248 SF
Year Built
1915
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Pengyi Eridani Zhou
(917) 708-9966
Source:
Elliman
Added: May 9
Changed: Aug 22
Last Checked: Sep 1 at 7:34PM
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 fully renovated brick two-family home features a semi-attached layout with both front and rear outdoor access. The building footprint is approximately 20' by 55' on a 22.67' by 100' lot. The home offers a total of 7 bedrooms and 5 bathrooms, with 4 bedrooms and 2 full bathrooms on the second floor and 3 bedrooms and 2 bathrooms on the first floor. Bright living spaces include hardwood and tile flooring throughout. A fully finished basement provides additional flexible space for storage, recreation, or potential conversion.
Recent updates include a separated furnace and boiler, along with a parking space added at the front. The property is located in Dyker Heights, a short distance from shopping strips along 86th Street and New Utrecht Avenue, with nearby bus service including B1, B4, B64, and X28, and access to the 79th Street D train station.
With its renovated interior, multi-bedroom unit configuration, and finished lower level, the property is designed to support straightforward two-family living or rental occupancy.
Recent updates include a separated furnace and boiler, along with a parking space added at the front. The property is located in Dyker Heights, a short distance from shopping strips along 86th Street and New Utrecht Avenue, with nearby bus service including B1, B4, B64, and X28, and access to the 79th Street D train station.
With its renovated interior, multi-bedroom unit configuration, and finished lower level, the property is designed to support straightforward two-family living or rental occupancy.
Key Highlights
- Fully renovated brick semi‑attached two‑family home built in 1915
- 7 bedrooms and 5 bathrooms total: 4 BR/2 full baths on the second floor; 3 BR/2 baths on the first floor
- Hardwood and tile flooring throughout both units
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
$78,729
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
4.38%
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%
$1,574,580
$1.6M
Cap Rate 7%
$1,124,700
$1.1M
Cap Rate 9%
$874,767
$874.8K
Market Conditions
NOI Build-Up for 2,248 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
$114.6K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.5K $50.03/SF
− OpEx
−$33.7K −$15.01/SF
NOI
$78.7K $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%
$1,574,580
Cap Rate 7%
$1,124,700
Cap Rate 9%
$874,767
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$984.1K – $1.31M
NOI $78,729 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$980.4K
$857.9K – $1.14M
NOI $68,629 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,294 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Renovated semi-attached two-family residence with 7 bedrooms, 5 bathrooms, hardwood and tile floors, and separate furnace and boiler.
Where is this duplex located?
The property is located at 1368 78th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,798,888.
What are key features of this property?
This property features: Fully renovated brick semi‑attached two‑family home built in 1915; 7 bedrooms and 5 bathrooms total: 4 BR/2 full baths on the second floor; 3 BR/2 baths on the first floor; Hardwood and tile flooring throughout both units
