Duplex with Detached
For Sale
$534,900
1719 E 51st Street, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size1,261 SF
Lot Size0.05 Acres
Price / SF$424.19
Days on Market13
Property Features for 1719 E 51st Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1
Parking features
Garage - Detached
Basement
Full
Subdivision
Old Mill Basin
Standard status
Active
Size
1,261 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6729
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
BHHS Fillmore R.E.
(718) 377-6161
Listed By:
Ken Macbride
(718) 368-2500
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 22 at 4:06AM
MLS# 504452
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 duplex property includes 1,261 square feet of building area on a 0.0517-acre lot. The layout includes three bedrooms and one bathroom, with a detached one-car garage accessed from a shared driveway. Built in 1920, the property is being offered in as-is condition.
The property is located at 1719 E 51st Street in Brooklyn, within ZIP Code 11234. Local shops, neighborhood conveniences, and everyday amenities are located nearby. R3-2 zoning applies to the property. The detached garage adds dedicated parking and storage, while the existing residential layout provides a clear basis for evaluating the asset in its current condition.
The property is located at 1719 E 51st Street in Brooklyn, within ZIP Code 11234. Local shops, neighborhood conveniences, and everyday amenities are located nearby. R3-2 zoning applies to the property. The detached garage adds dedicated parking and storage, while the existing residential layout provides a clear basis for evaluating the asset in its current condition.
Key Highlights
- 1,261 square feet of building area
- 0.0517‑acre lot
- R3‑2 zoning
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
$44,162
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
8.26%
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%
$883,240
$883.2K
Cap Rate 7%
$630,886
$630.9K
Cap Rate 9%
$490,689
$490.7K
Market Conditions
NOI Build-Up for 1,261 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
$64.3K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$63.1K $50.03/SF
− OpEx
−$18.9K −$15.01/SF
NOI
$44.2K $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%
$883,240
Cap Rate 7%
$630,886
Cap Rate 9%
$490,689
Alternative Uses
Best Use
Multifamily LT 5
$630.9K
$552.0K – $736.0K
NOI $44,162 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$550.0K
$481.2K – $641.6K
NOI $38,497 @ 7.0% cap · market cap 7.20%
Theoretical Best
Specialty Retail
$1.04M
$913.6K – $1.22M
NOI $73,088 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R3-2 zoning, three bedrooms, and a detached one-car garage support a practical residential configuration.
Where is this duplex located?
The property is located at 1719 E 51st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $534,900.
What are key features of this property?
This property features: 1,261 square feet of building area; 0.0517‑acre lot; R3‑2 zoning
