Brick Duplex with
New
For Sale
$1,880,000
1518 74th St, Brooklyn, NY 11228
Two apartments have separate living and dining areas, complemented by finished basement recreation space and a shared driveway.
Property Size2,052 SF
Days on Market2
Property Features for 1518 74th St
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,555
Building Details
Building Size
2,052 SF
Year Built
1925
Stories
2
Listing Agency:
Realty First Residential
Listed By:
Girolamo S. Grillo
(718) 758-5838
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:24PM
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 Realty First Residential
Investment Insights
Based on property information with market context.
This semi-detached brick duplex contains two apartments with related layouts. The first-floor unit has two bedrooms, separate living and dining areas, and tiled floors. The upper apartment adds a bedroom and features parquet flooring. A finished basement provides recreation space, a three-quarter bath, and access at both the front and rear. The building measures 18.33 by 57 feet on a 22.33-by-100-foot lot. A shared driveway serves a two-car garage.
Train and bus transportation, shopping, and schools are nearby. The property has a Walk Score of 95, a Transit Score of 75, and a Bike Score of 56.
Train and bus transportation, shopping, and schools are nearby. The property has a Walk Score of 95, a Transit Score of 75, and a Bike Score of 56.
Key Highlights
- Two‑family brick duplex with a shared driveway and two‑car garage
- Building dimensions: 18.33 ft. by 57 ft.; lot dimensions: 22.33 ft. by 100 ft.
- First‑floor apartment has two bedrooms, separate living and dining areas, and tiled floors
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
$71,865
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
3.82%
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%
$1,437,300
$1.4M
Cap Rate 7%
$1,026,643
$1.0M
Cap Rate 9%
$798,500
$798.5K
Market Conditions
NOI Build-Up for 2,052 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
$104.7K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$102.7K $50.03/SF
− OpEx
−$30.8K −$15.01/SF
NOI
$71.9K $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%
$1,437,300
Cap Rate 7%
$1,026,643
Cap Rate 9%
$798,500
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$898.3K – $1.20M
NOI $71,865 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$894.9K
$783.1K – $1.04M
NOI $62,645 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$1.70M
$1.49M – $1.98M
NOI $118,934 @ 7.0% cap · market cap 6.33%
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
3,484
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two apartments have separate living and dining areas, complemented by finished basement recreation space and a shared driveway.
Where is this duplex located?
The property is located at 1518 74th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: Two‑family brick duplex with a shared driveway and two‑car garage; Building dimensions: 18.33 ft. by 57 ft.; lot dimensions: 22.33 ft. by 100 ft.; First‑floor apartment has two bedrooms, separate living and dining areas, and tiled floors
