Renovated Duplex
For Sale
$1,299,000
1469 W 9th Street, Brooklyn, NY 11204
Residential, Brooklyn, NY
Property Size2,106 SF
Lot Size0.05 Acres
Price / SF$616.81
Days on Market55
Property Features for 1469 W 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Parking features
Garage
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,106 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8204
Amenities
backyard patio
front balcony
private rear deck
laundry area
detached garage
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick, Wood Frame
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Added: Jul 1
Changed: Aug 23
Last Checked: Aug 24 at 9:06PM
MLS# 502681
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 duplex property contains two residential apartments with a combined 2,106 square feet of living area. The lower unit includes two bedrooms, an updated kitchen and bathroom, access to a backyard patio, and a finished basement with two additional rooms and laundry space. The upper apartment offers two bedrooms, a living room, front balcony, rear deck, and renovated bathroom. Interior finishes include hardwood and tile flooring, with a refrigerator and stove included.
The 0.0459-acre lot provides a detached, semi-detached garage and an approximately 14-foot-wide private driveway. Three separate electric meters support distinct utility management. Built in 1940 and updated approximately three years ago, the property is located near Bay Parkway, shopping, supermarkets, restaurants, public transportation, and neighborhood amenities in Brooklyn, NY 11204.
The 0.0459-acre lot provides a detached, semi-detached garage and an approximately 14-foot-wide private driveway. Three separate electric meters support distinct utility management. Built in 1940 and updated approximately three years ago, the property is located near Bay Parkway, shopping, supermarkets, restaurants, public transportation, and neighborhood amenities in Brooklyn, NY 11204.
Key Highlights
- Two residential units with a combined 2,106 square feet
- Lower apartment includes a finished basement with two additional rooms and laundry area
- Upper apartment features a front balcony and private rear deck
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
$73,756
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
5.68%
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%
$1,475,120
$1.5M
Cap Rate 7%
$1,053,657
$1.1M
Cap Rate 9%
$819,511
$819.5K
Market Conditions
NOI Build-Up for 2,106 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
$107.4K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.4K $50.03/SF
− OpEx
−$31.6K −$15.01/SF
NOI
$73.8K $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%
$1,475,120
Cap Rate 7%
$1,053,657
Cap Rate 9%
$819,511
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.0K – $1.23M
NOI $73,756 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$918.5K
$803.7K – $1.07M
NOI $64,294 @ 7.0% cap · market cap 4.95%
Theoretical Best
Specialty Retail
$1.74M
$1.53M – $2.03M
NOI $122,064 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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 - Two residential units feature updated interiors, private outdoor areas, a garage, and separate electric metering.
Where is this duplex located?
The property is located at 1469 W 9th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two residential units with a combined 2,106 square feet; Lower apartment includes a finished basement with two additional rooms and laundry area; Upper apartment features a front balcony and private rear deck
