Two-Family Brick
New
For Sale
$1,498,000
1581 74th St, Brooklyn, NY 11228
Brick two-family property with a flexible layout near transit, shopping, schools, parks, and neighborhood services.
Property Size2,640 SF
Days on Market3
Property Features for 1581 74th St
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,816
Building Details
Building Size
2,640 SF
Year Built
1935
Stories
2
Listing Agency:
Grandeur Realty, Inc.
Listed By:
Hui L. (Nancy) Feng
(917) 810-3870
Source:
Elliman
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 5 at 9:30AM
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 Grandeur Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 1581 74th St in Brooklyn, this two-family brick property was built in 1935 and measures approximately 20' x 48'. Its configuration provides separate residential areas within a substantial building footprint, supporting a range of owner-occupant, multigenerational, or rental-use arrangements described for the property.
Transit access is a central feature of the location. The 71st Street D train station is 3 blocks away, while the B4 bus stop is 1 block away. The property is also near neighborhood shopping, restaurants, supermarkets, schools, parks, and daily services. Walk Score is 95, Transit Score is 82, and Bike Score is 56.
Transit access is a central feature of the location. The 71st Street D train station is 3 blocks away, while the B4 bus stop is 1 block away. The property is also near neighborhood shopping, restaurants, supermarkets, schools, parks, and daily services. Walk Score is 95, Transit Score is 82, and Bike Score is 56.
Key Highlights
- Two‑family brick property built in 1935
- 20' x 48' building footprint
- 71st Street D train station 3 blocks away
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
$92,457
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
6.17%
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%
$1,849,140
$1.8M
Cap Rate 7%
$1,320,814
$1.3M
Cap Rate 9%
$1,027,300
$1.0M
Market Conditions
NOI Build-Up for 2,640 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
$134.6K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$132.1K $50.03/SF
− OpEx
−$39.6K −$15.01/SF
NOI
$92.5K $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%
$1,849,140
Cap Rate 7%
$1,320,814
Cap Rate 9%
$1,027,300
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,457 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,596 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,014 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,866
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 - Brick two-family property with a flexible layout near transit, shopping, schools, parks, and neighborhood services.
Where is this duplex located?
The property is located at 1581 74th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Two‑family brick property built in 1935; 20' x 48' building footprint; 71st Street D train station 3 blocks away
