Two-Bedroom Duplex
For Sale
$600,000
1449 E 56th Street, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size952 SF
Lot Size0.04 Acres
Price / SF$630.25
Days on Market10
Property Features for 1449 E 56th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
Basement
Finished
Subdivision
Flatlands
Standard status
Active
Size
952 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5528
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Flat
Architectural style
Other
Listing Agency:
Kingsview Realty Corp.
Listed By:
Anthony Garraud II · License #AG8810
(718) 692-2010
Added: Sep 22
Last Checked: Oct 1 at 6:06PM
MLS# 504684
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 952-square-foot duplex-style home was built in 1920 and is being delivered vacant in its present condition. The main level includes a living room, dining room, and kitchen, while the upper floor contains two bedrooms and a full bathroom. A finished basement adds a 3/4 bathroom, a rear exit, and flexible space that may accommodate an additional bedroom or home office. Wood-frame construction, hardwood and tile flooring, and a flat roof complete the existing improvements.
The property includes a 0.0413-acre lot with a shared driveway and backyard. It is zoned R3-2 and located in Brooklyn, NY 11234. Buyers should evaluate the current condition and any proposed alterations through their own due diligence.
The property includes a 0.0413-acre lot with a shared driveway and backyard. It is zoned R3-2 and located in Brooklyn, NY 11234. Buyers should evaluate the current condition and any proposed alterations through their own due diligence.
Key Highlights
- 952 square feet on a 0.0413‑acre lot
- Two bedrooms and two bathrooms
- Finished basement with 3/4 bathroom and rear exit
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
$29,064
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
4.84%
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%
$581,280
$581.3K
Cap Rate 7%
$415,200
$415.2K
Cap Rate 9%
$322,933
$322.9K
Market Conditions
NOI Build-Up for 952 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
$53.9K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$52.8K $55.51/SF
− OpEx
−$23.8K −$24.98/SF
NOI
$29.1K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$581,280
Cap Rate 7%
$415,200
Cap Rate 9%
$322,933
Alternative Uses
Best Use
Apartment 5plus
$415.2K
$363.3K – $484.4K
NOI $29,064 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$788.3K
$689.7K – $919.6K
NOI $55,178 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,319
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
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Frequently Asked Questions
What type of property is this?
Single family property - Vacant two-story residence with a finished basement, shared driveway, backyard, and space requiring cosmetic updates.
Where is this single family property located?
The property is located at 1449 E 56th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 952 square feet on a 0.0413‑acre lot; Two bedrooms and two bathrooms; Finished basement with 3/4 bathroom and rear exit
