Renovated Duplex Brownstone with
For Sale
$4,750,000
Pending
506 13th St, Brooklyn, NY 11215
Legal two-family residence configured for single-family living, with restored architectural details and flexible multi-level space.
Property Size3,883 SF
Days on Market12
Property Features for 506 13th St
General Information
Standard status
Pending
Size
3,883 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,880
Building Details
Building Size
3,883 SF
Year Built
1901
Year Renovated
2013
Stories
3
Units
2
Construction
Brownstone
Listing Agency:
Park Slope
Listed By:
Dwayne C Powell · License #40PO1142742
(917) 309-2414
Source:
Elliman
Added: Sep 15
Changed: Sep 22
Last Checked: Sep 26 at 11:58AM
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 Park Slope
Investment Insights
Based on property information with market context.
This 1901 brownstone is a legal two-family residence currently arranged as a single-family home. The 20.33-foot-wide, 47-foot-deep layout includes a parlor level with living, media, dining, and kitchen areas, along with a deck above a landscaped garden. The kitchen is fitted with Viking, Sub-Zero, and Miele appliances, a Calacatta marble island, and custom cabinetry. Original millwork, a pressed-tin ceiling, and a hand-forged brass fireplace façade remain among the preserved details.
The upper bedroom level contains four bedrooms, including a primary suite with a walk-in closet and en-suite bath, while the garden level adds a guest room, recreation room, laundry room, and full bath. An unobstructed basement offers additional flexible space. A separate connection between levels could support rental income or a private guest suite. The property is less than a minute from Prospect Park and has walk, bike, and transit scores of 96, 90, and 98, respectively.
The upper bedroom level contains four bedrooms, including a primary suite with a walk-in closet and en-suite bath, while the garden level adds a guest room, recreation room, laundry room, and full bath. An unobstructed basement offers additional flexible space. A separate connection between levels could support rental income or a private guest suite. The property is less than a minute from Prospect Park and has walk, bike, and transit scores of 96, 90, and 98, respectively.
Key Highlights
- Legal two‑family brownstone currently configured as a single‑family residence
- 20.33‑foot‑wide by 47‑foot‑deep home with parlor, bedroom, garden, and basement levels
- Landscaped garden with bluestone paving, multiple lounge areas, deck access, and a secret fort
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
$135,989
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
2.86%
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%
$2,719,780
$2.7M
Cap Rate 7%
$1,942,700
$1.9M
Cap Rate 9%
$1,510,989
$1.5M
Market Conditions
NOI Build-Up for 3,883 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
$198.0K $51.00/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$194.3K $50.03/SF
− OpEx
−$58.3K −$15.01/SF
NOI
$136.0K $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%
$2,719,780
Cap Rate 7%
$1,942,700
Cap Rate 9%
$1,510,989
Alternative Uses
Best Use
Multifamily LT 5
$1.94M
$1.70M – $2.27M
NOI $135,989 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$1.69M
$1.48M – $1.98M
NOI $118,544 @ 7.0% cap · market cap 2.50%
Theoretical Best
Specialty Retail
$3.22M
$2.81M – $3.75M
NOI $225,059 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,427
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family residence configured for single-family living, with restored architectural details and flexible multi-level space.
Where is this duplex located?
The property is located at 506 13th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Legal two‑family brownstone currently configured as a single‑family residence; 20.33‑foot‑wide by 47‑foot‑deep home with parlor, bedroom, garden, and basement levels; Landscaped garden with bluestone paving, multiple lounge areas, deck access, and a secret fort
