Three-Unit Home with
For Sale
$1,398,000
1717 78th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size2,600 SF
Lot Size0.05 Acres
Price / SF$537.69
Days on Market513
Property Features for 1717 78th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Patio and Porch features
Porch, Patio
Interior features
Laundry Area, Patio Garden, Porch, Stove, Window Treatments
Basement
Full, Unfinished
Subdivision
Bensonhurst
Standard status
Active
Size
2,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8477
Amenities
yard
garden
patio
washer/dryer hookups
Building Details
Year built
1915
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Carpet, Tile, Laminate
Building materials
Wood Frame, Masonry
Roof type
Asphalt
Listing Agency:
Anne Lopa Real Estate
(718) 227-1111
Listed By:
Ann Lopa
(917) 364-4755
Added: Apr 13, 2025
Changed: Sep 5
Last Checked: Sep 7 at 6:06AM
MLS# 490855
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 2,600-square-foot triplex was built in 1915 on a 0.0459-acre lot and includes three apartments. Two units were renovated 5 and 9 years ago, while the third has been maintained with a retro-style interior. Features include hardwood, carpet, tile, and laminate flooring, stainless steel appliances, large closets, and open living areas with natural light. Two apartments are vacant.
The first floor connects to a large yard with garden and patio areas. A separate basement entry provides access to washer and dryer hookups. The property has 4 gas meters and 3 electric meters, with steam/gas heat. Electrical wiring, apartment electrical boxes, and windows have been updated at varying times, while the asphalt roof is approximately 4 years old. The property is zoned R5 and located in Brooklyn near parks, shopping, restaurants, schools, trains, and buses.
The first floor connects to a large yard with garden and patio areas. A separate basement entry provides access to washer and dryer hookups. The property has 4 gas meters and 3 electric meters, with steam/gas heat. Electrical wiring, apartment electrical boxes, and windows have been updated at varying times, while the asphalt roof is approximately 4 years old. The property is zoned R5 and located in Brooklyn near parks, shopping, restaurants, schools, trains, and buses.
Key Highlights
- Three apartments within a 2,600‑square‑foot multifamily property
- Two units renovated 5 and 9 years ago; third unit maintained with a retro‑style interior
- Two apartments are vacant
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
$70,914
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
5.07%
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%
$1,418,280
$1.4M
Cap Rate 7%
$1,013,057
$1.0M
Cap Rate 9%
$787,933
$787.9K
Market Conditions
NOI Build-Up for 2,600 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
$106.1K $40.80/SF
− Vacancy
−$4.8K −$1.84/SF
EGI
$101.3K $38.96/SF
− OpEx
−$30.4K −$11.69/SF
NOI
$70.9K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,418,280
Cap Rate 7%
$1,013,057
Cap Rate 9%
$787,933
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.4K – $1.18M
NOI $70,914 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$907.9K
$794.4K – $1.06M
NOI $63,555 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,170 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,900
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Triplex - Wood-frame multifamily property with renovated apartments, private outdoor space, and two currently vacant units.
Where is this triplex located?
The property is located at 1717 78th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Three apartments within a 2,600‑square‑foot multifamily property; Two units renovated 5 and 9 years ago; third unit maintained with a retro‑style interior; Two apartments are vacant
