Brick Duplex with
New
For Sale
$1,498,000
1581 74th Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,640 SF
Lot Size0.05 Acres
Price / SF$567.42
Days on Market4
Property Features for 1581 74th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 9, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Parking features
Garage
Interior features
Refrigerator, Stove
Subdivision
Bensonhurst
Standard status
Active
Size
2,640 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10816
Building Details
Year built
1935
Floors in Building
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Grandeur Realty, Inc.
(917) 810-3870
Listed By:
Hui L. (Nancy) Feng
(347) 276-4737
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 6 at 5:06AM
MLS# 504261
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 two-unit residential property provides 2,640 square feet within a 20-by-48-foot brick building constructed in 1935. The interior includes hardwood flooring, refrigerators, and stoves, while the property also features a garage and flat roof. R5 zoning supports its residential setting, and the layout accommodates two separate households.
The property is located in Brooklyn near the 71st Street D train station and the B4 bus route, with access to neighborhood shopping, restaurants, supermarkets, schools, and parks. The address is 1581 74th Street, Brooklyn, NY 11228. Property access is currently pending scheduling.
The property is located in Brooklyn near the 71st Street D train station and the B4 bus route, with access to neighborhood shopping, restaurants, supermarkets, schools, and parks. The address is 1581 74th Street, Brooklyn, NY 11228. Property access is currently pending scheduling.
Key Highlights
- 2,640‑square‑foot two‑family property on a 0.0459‑acre lot
- 20' x 48' brick building constructed in 1935
- R5 zoning with two‑unit residential configuration
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
$92,457
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
6.17%
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%
$1,849,140
$1.8M
Cap Rate 7%
$1,320,814
$1.3M
Cap Rate 9%
$1,027,300
$1.0M
Market Conditions
NOI Build-Up for 2,640 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
$134.6K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$132.1K $50.03/SF
− OpEx
−$39.6K −$15.01/SF
NOI
$92.5K $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%
$1,849,140
Cap Rate 7%
$1,320,814
Cap Rate 9%
$1,027,300
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,457 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,596 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,014 @ 7.0% cap · market cap 10.21%
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
3,866
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
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-family configuration with hardwood floors, a garage, and kitchen appliances.
Where is this duplex located?
The property is located at 1581 74th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: 2,640‑square‑foot two‑family property on a 0.0459‑acre lot; 20' x 48' brick building constructed in 1935; R5 zoning with two‑unit residential configuration
