Three-Story Two-Family Brick
For Sale
$1,450,000
2249 78th Street, Brooklyn, NY 11214
Three-story two-family brick residence with built-in garage and a private backyard access from the first level.
Property Size2,547 SF
Days on Market189
Property Features for 2249 78th Street
General Information
Standard status
Active
Size
2,547 SF
Property subtype
Multi Family Home
Zoning
R6B
Additional Details
Multifamily Units
2
Building Details
Building Size
2,547 SF
Year Built
1940
Stories
2
Listing Agency:
Tiger Realty
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(917) 708-9966
Source:
Excellchoicerealty
Added: Mar 3
Changed: Sep 8
Last Checked: Sep 8 at 8:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tiger Realty
Investment Insights
Based on property information with market context.
This three-story, two-family brick home offers a practical layout designed to support flexible living arrangements. The first level features an open, versatile layout with a full bathroom and direct access to the private backyard. The second and third floors each include two bedrooms, one full bathroom, a bright living room, and an open kitchen with a dining area.
A built-in garage and carport space provide on-site parking convenience. The home is close to supermarkets, shopping areas, child and adult daycare centers, local restaurants, and Seth Low Park. Public transportation options include Subway lines D, N, and F, as well as bus lines B6, B82, and B4.
Overall, the building is configured as two-family living with identical floor-level bedroom and bathroom counts on the upper floors, paired with a separate first-level layout and outdoor access.
A built-in garage and carport space provide on-site parking convenience. The home is close to supermarkets, shopping areas, child and adult daycare centers, local restaurants, and Seth Low Park. Public transportation options include Subway lines D, N, and F, as well as bus lines B6, B82, and B4.
Overall, the building is configured as two-family living with identical floor-level bedroom and bathroom counts on the upper floors, paired with a separate first-level layout and outdoor access.
Key Highlights
- 1940‑built, three‑story two‑family brick home in Bensonhurst
- Built‑in garage plus carport space for convenient parking
- First level features an open layout with a full bathroom and direct access to the private backyard
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
$69,469
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
4.79%
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%
$1,389,380
$1.4M
Cap Rate 7%
$992,414
$992.4K
Cap Rate 9%
$771,878
$771.9K
Market Conditions
NOI Build-Up for 2,547 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
$103.9K $40.80/SF
− Vacancy
−$4.7K −$1.84/SF
EGI
$99.2K $38.96/SF
− OpEx
−$29.8K −$11.69/SF
NOI
$69.5K $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%
$1,389,380
Cap Rate 7%
$992,414
Cap Rate 9%
$771,878
Alternative Uses
Best Use
Multifamily LT 5
$992.4K
$868.4K – $1.16M
NOI $69,469 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$889.4K
$778.3K – $1.04M
NOI $62,260 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,006 @ 7.0% cap · market cap 7.17%
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
4,191
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?
Duplex - Three-story two-family brick residence with built-in garage and a private backyard access from the first level.
Where is this duplex located?
The property is located at 2249 78th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 1940‑built, three‑story two‑family brick home in Bensonhurst; Built‑in garage plus carport space for convenient parking; First level features an open layout with a full bathroom and direct access to the private backyard
