Brick Duplex with
For Sale
$1,880,000
1518 74th Street, Brooklyn, NY 11228
Residential, Duplex, Brooklyn, NY
Property Size2,052 SF
Lot Size0.05 Acres
Price / SF$916.18
Days on Market8
Property Features for 1518 74th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Interior features
Dryer, Laundry Area, Microwave, Refrigerator, Washer
Basement
Full, Finished
Subdivision
Dyker Heights
Standard status
Active
Size
2,052 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4555
Amenities
finished basement
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Carpet
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Century 21 Realty First
(718) 758-5838
Listed By:
Girolamo S. Grillo
(718) 236-7100
Added: Sep 24
Changed: Sep 25
Last Checked: Oct 1 at 3:06PM
MLS# 504852
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 2,052-square-foot, semi-detached brick duplex contains two apartments and was built in 1925. The first-floor residence has two bedrooms, separate living and dining areas, and tiled flooring. The upper apartment has a comparable layout with an additional bedroom and parquet hardwood floors. A finished basement adds recreation space and a three-quarter bath, with access at both the front and rear. The property also includes a shared driveway and a two-car garage. The lot measures 22.33 by 100 feet, or 0.0513 acres, and the building measures 18.33 by 57 feet. Zoning is R4.
The property is in Brooklyn, NY, near train and bus transportation, shopping areas, and schools. Interior features include a laundry area, washer, dryer, microwave, and refrigerator.
The property is in Brooklyn, NY, near train and bus transportation, shopping areas, and schools. Interior features include a laundry area, washer, dryer, microwave, and refrigerator.
Key Highlights
- Two apartments in a 2,052‑square‑foot brick building
- First‑floor apartment has 2 bedrooms and separate living and dining areas
- Upper apartment has a similar layout with an additional bedroom
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
Lease Details
2
Residential units
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
Check the figures for this property
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 - Separate living and dining areas serve both apartments, with additional finished recreation space below.
Where is this duplex located?
The property is located at 1518 74th Street 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 apartments in a 2,052‑square‑foot brick building; First‑floor apartment has 2 bedrooms and separate living and dining areas; Upper apartment has a similar layout with an additional bedroom
