Vacant Two-Unit Ranch
For Sale
$1,790,000
2177 W 7th Street, Brooklyn, NY 11223
Residential, Ranch, Brooklyn, NY
Property Size1,620 SF
Lot Size0.05 Acres
Price / SF$1,104
Days on Market182
Property Features for 2177 W 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R5
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 2
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Gravesend
Standard status
Active
Size
1,620 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8084
Building Details
Year built
1920
Floors in Building
2
Flooring type
Carpet, Hardwood
Building materials
Wood Frame
Architectural style
Ranch
Listing Agency:
Metro Realty Professionals
Listed By:
Nam H. Sung
(718) 838-2600
Added: Mar 11
Changed: Sep 5
Last Checked: Sep 8 at 4:06AM
MLS# 499553
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 fully detached, corner duplex contains 1,620 square feet and was built in 1920. Both residences follow the same layout, with two bedrooms, a living room, one full bathroom, and a kitchen. The finished basement adds a family room, reading room, full bath, and private rear entry. A rear enclosed porch provides additional usable space.
The 0.0482-acre property is zoned R5 and includes a detached garage. Wood-frame construction is complemented by hardwood and carpet flooring, while each kitchen is equipped with a refrigerator and stove. The home is being delivered vacant and is located near the N train Avenue U station and the 86 Street subway station.
The 0.0482-acre property is zoned R5 and includes a detached garage. Wood-frame construction is complemented by hardwood and carpet flooring, while each kitchen is equipped with a refrigerator and stove. The home is being delivered vacant and is located near the N train Avenue U station and the 86 Street subway station.
Key Highlights
- Two‑family duplex with 1,620 square feet on a 0.0482‑acre lot
- Each unit offers 2 bedrooms, a living room, full bath, and kitchen
- Finished basement with family room, reading room, full bath, and private rear entry
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
$56,735
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
3.17%
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%
$1,134,700
$1.1M
Cap Rate 7%
$810,500
$810.5K
Cap Rate 9%
$630,389
$630.4K
Market Conditions
NOI Build-Up for 1,620 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
$82.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$81.1K $50.03/SF
− OpEx
−$24.3K −$15.01/SF
NOI
$56.7K $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%
$1,134,700
Cap Rate 7%
$810,500
Cap Rate 9%
$630,389
Alternative Uses
Best Use
Multifamily LT 5
$810.5K
$709.2K – $945.6K
NOI $56,735 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$706.5K
$618.2K – $824.3K
NOI $49,457 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,895 @ 7.0% cap · market cap 5.25%
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
2,686
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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 - Each residence includes two bedrooms, a living room, full bath, and kitchen.
Where is this duplex located?
The property is located at 2177 W 7th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Two‑family duplex with 1,620 square feet on a 0.0482‑acre lot; Each unit offers 2 bedrooms, a living room, full bath, and kitchen; Finished basement with family room, reading room, full bath, and private rear entry
