Three-Story Brick
For Sale
$1,555,000
Pending
2422 E 4th St, Brooklyn, NY 11223
Three-level brick property with a private driveway, built-in garage, and separate walk-in living quarters.
Property Size2,380 SF
Days on Market136
Property Features for 2422 E 4th St
General Information
Standard status
Pending
Size
2,380 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,937
Building Details
Building Size
2,380 SF
Year Built
1950
Stories
2
Construction
solid-brick
Listing Agency:
Ben Bay Realty Co
Listed By:
Joseph F. Girgenti
(718) 372-6442
Source:
Elliman
Added: Apr 28
Changed: Sep 1
Last Checked: Sep 9 at 10:33AM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
Built in 1950, this solid-brick duplex spans three full floors and contains 11 rooms, five bedrooms, and three bathrooms. The walk-in ground-level unit includes two bedrooms, a kitchen, living room, and dining area. The main level adds a front porch, living room, formal dining room, half bath, kitchen, and a 20’ x 20’ covered rear porch. The upper floor provides three bedrooms, generous closet space, hardwood flooring, and a full bathroom. Solid hardwood floors extend throughout the property, and a private driveway with a built-in garage adds convenience.
The property is near Ocean Parkway with access to Manhattan, houses of worship, schools, and shopping along Avenue X. Walk Score is 94, Transit Score is 97, and bikeScore is 72. The property is being sold as is.
The property is near Ocean Parkway with access to Manhattan, houses of worship, schools, and shopping along Avenue X. Walk Score is 94, Transit Score is 97, and bikeScore is 72. The property is being sold as is.
Key Highlights
- Three full floors with 11 rooms, five bedrooms, and three bathrooms
- Walk‑in ground‑level unit with two bedrooms, kitchen, living room, and dining area
- 20’ x 20’ covered rear porch plus a front porch
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
$83,352
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
5.36%
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%
$1,667,040
$1.7M
Cap Rate 7%
$1,190,743
$1.2M
Cap Rate 9%
$926,133
$926.1K
Market Conditions
NOI Build-Up for 2,380 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
$121.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$119.1K $50.03/SF
− OpEx
−$35.7K −$15.01/SF
NOI
$83.4K $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%
$1,667,040
Cap Rate 7%
$1,190,743
Cap Rate 9%
$926,133
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,352 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$1.04M
$908.2K – $1.21M
NOI $72,659 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,945 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,902
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Three-level brick property with a private driveway, built-in garage, and separate walk-in living quarters.
Where is this duplex located?
The property is located at 2422 E 4th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,555,000.
What are key features of this property?
This property features: Three full floors with 11 rooms, five bedrooms, and three bathrooms; Walk‑in ground‑level unit with two bedrooms, kitchen, living room, and dining area; 20’ x 20’ covered rear porch plus a front porch
