Brick Duplex with
For Sale
$1,580,000
729 45th St, Brooklyn, NY 11220
Vacant two-family brick property with separate basement access and two four-bedroom units.
Property Size2,508 SF
Days on Market125
Property Features for 729 45th St
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,249
Building Details
Building Size
2,508 SF
Year Built
1930
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Ken Zheng
(917) 708-9966
Source:
Elliman
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 8:35PM
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.
Built in 1930, this brick duplex contains two residential units, each arranged with four bedrooms and one full bathroom. A basement with its own entrance adds functional space to the property, and the building will be delivered vacant.
The property is located at 729 45th St in Brooklyn, NY 11220. WalkScore is 94, reflecting a Walker’s Paradise designation, while TransitScore is 78 and BikeScore is 69. The surrounding location offers established pedestrian, transit, and bicycle access for future occupants.
The property is located at 729 45th St in Brooklyn, NY 11220. WalkScore is 94, reflecting a Walker’s Paradise designation, while TransitScore is 78 and BikeScore is 69. The surrounding location offers established pedestrian, transit, and bicycle access for future occupants.
Key Highlights
- Two‑family brick duplex with two residential units
- Each unit includes 4 bedrooms and 1 full bath
- Basement includes a separate entrance
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
$74,675
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
4.73%
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%
$1,493,500
$1.5M
Cap Rate 7%
$1,066,786
$1.1M
Cap Rate 9%
$829,722
$829.7K
Market Conditions
NOI Build-Up for 2,508 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
$111.4K $44.40/SF
− Vacancy
−$4.7K −$1.86/SF
EGI
$106.7K $42.54/SF
− OpEx
−$32.0K −$12.76/SF
NOI
$74.7K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,493,500
Cap Rate 7%
$1,066,786
Cap Rate 9%
$829,722
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$933.4K – $1.24M
NOI $74,675 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$955.4K
$836.0K – $1.11M
NOI $66,880 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,811 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Vacant two-family brick property with separate basement access and two four-bedroom units.
Where is this duplex located?
The property is located at 729 45th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Two‑family brick duplex with two residential units; Each unit includes 4 bedrooms and 1 full bath; Basement includes a separate entrance
