Gutted-Renovated Duplex with Detached
For Sale
$1,399,000
161 E 56th Street, Brooklyn, NY 11203
MULTI_FAMILY - Brooklyn, NY
Property Size2,560 SF
Lot Size0.06 Acres
Price / SF$546.48
Days on Market119
Property Features for 161 E 56th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Rooms
Bathroom 5, Bathroom 4, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 1, Bedroom 7
Parking features
Garage - Detached
Basement
Finished
Subdivision
East Flatbush
Standard status
Active
Size
2,560 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6700
Amenities
semi-finished basement
Building Details
Floors in Building
2
Number of units
2
Flooring type
Marble, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Po M Liu · License #LIUPO10
(718) 532-2000
Added: Apr 30
Changed: Aug 5
Last Checked: Aug 26 at 8:06AM
MLS# 501042
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.
Gutted and renovated semi-detached brick duplex built with a flat roof and finished with a mix of hardwood and polished marble tile floors. The home is laid out as two apartments, with 4 bedrooms over 3 bedrooms and 2 baths on each level. Updated wiring includes an electric panel box in each apartment. A semi-finished basement offers flexible space for a home office or recreation room. Parking is available via a private driveway and a detached garage.
The property is described as a 2-family home with a building size of 20x66 and a lot size of 28x100 on a 0.0635-acre parcel. It is constructed of brick and zoned R5.
The configuration supports a clear two-level living setup with dedicated electrical service per unit and finishes that include recessed lighting and soaring ceilings.
The property is described as a 2-family home with a building size of 20x66 and a lot size of 28x100 on a 0.0635-acre parcel. It is constructed of brick and zoned R5.
The configuration supports a clear two-level living setup with dedicated electrical service per unit and finishes that include recessed lighting and soaring ceilings.
Key Highlights
- Semi‑detached brick two‑family duplex gut renovated with hardwood and marble tile floors
- Building size 20x66 on a 28x100 lot (0.0635 acres)
- 4 bedrooms over 3 bedrooms with 2 baths on each level
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
$89,656
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
6.41%
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%
$1,793,120
$1.8M
Cap Rate 7%
$1,280,800
$1.3M
Cap Rate 9%
$996,178
$996.2K
Market Conditions
NOI Build-Up for 2,560 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
$130.6K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$128.1K $50.03/SF
− OpEx
−$38.4K −$15.01/SF
NOI
$89.7K $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%
$1,793,120
Cap Rate 7%
$1,280,800
Cap Rate 9%
$996,178
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,656 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$1.12M
$976.9K – $1.30M
NOI $78,154 @ 7.0% cap · market cap 5.59%
Theoretical Best
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,378 @ 7.0% cap · market cap 10.61%
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
3,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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 - R5-zoned semi-detached brick duplex with 4 bedrooms over 3 bedrooms and two baths per level, plus a detached garage.
Where is this duplex located?
The property is located at 161 E 56th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Semi‑detached brick two‑family duplex gut renovated with hardwood and marble tile floors; Building size 20x66 on a 28x100 lot (0.0635 acres); 4 bedrooms over 3 bedrooms with 2 baths on each level
