All-Brick Two-Family
For Sale
$999,000
Pending
1278 E 56th St, Brooklyn, NY 11234
Attached two-family brick home with two units, including a finished basement with one bedroom and three-quarters bath.
Property Size2,504 SF
Days on Market120
Property Features for 1278 E 56th St
General Information
Standard status
Pending
Size
2,504 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,634
Building Details
Building Size
2,504 SF
Year Built
1950
Stories
2
Listing Agency:
Talk of the Town Realty Corp.
(718) 251-7400
Listed By:
Bella Fuzailov
(718) 251-7400
Source:
Elliman
Added: Apr 28
Changed: Aug 21
Last Checked: Aug 24 at 7:22AM
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 Talk of the Town Realty Corp.
Investment Insights
Based on property information with market context.
This attached two-family home is constructed of all brick and is ready for its next owner. The property includes a spacious layout with a large unit featuring three bedrooms and one bathroom over a second unit with two rooms and one bathroom. A full finished basement adds additional living space, including one bedroom and a three-quarters bath.
The home sits on a 24-by-100 lot. WalkScore and transitScore are listed as very walkable and excellent transit, respectively, with a BikeScore indicating bikeable access.
All presented information describes a two-family configuration with three total bedroom areas across the main units and finished basement.
The home sits on a 24-by-100 lot. WalkScore and transitScore are listed as very walkable and excellent transit, respectively, with a BikeScore indicating bikeable access.
All presented information describes a two-family configuration with three total bedroom areas across the main units and finished basement.
Key Highlights
- Attached two‑family all‑brick home built in 1950
- 24x100 lot with a spacious multi‑unit layout
- Unit mix: large 3‑bedroom, 1‑bath unit plus a 2‑room, 1‑bath unit
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
$87,694
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
8.78%
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%
$1,753,880
$1.8M
Cap Rate 7%
$1,252,771
$1.3M
Cap Rate 9%
$974,378
$974.4K
Market Conditions
NOI Build-Up for 2,504 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
$127.7K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$125.3K $50.03/SF
− OpEx
−$37.6K −$15.01/SF
NOI
$87.7K $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%
$1,753,880
Cap Rate 7%
$1,252,771
Cap Rate 9%
$974,378
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,694 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$1.09M
$955.6K – $1.27M
NOI $76,445 @ 7.0% cap · market cap 7.65%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $145,132 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Attached two-family brick home with two units, including a finished basement with one bedroom and three-quarters bath.
Where is this duplex located?
The property is located at 1278 E 56th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Attached two‑family all‑brick home built in 1950; 24x100 lot with a spacious multi‑unit layout; Unit mix: large 3‑bedroom, 1‑bath unit plus a 2‑room, 1‑bath unit
