Semi-Detached Two-Family
For Sale
$1,159,000
2743 Mill Ave, Brooklyn, NY 11234
Semi-detached two-family home with a 3-bedroom main unit, a separate 2-bedroom apartment, and private basement access.
Property Size2,397 SF
Days on Market71
Property Features for 2743 Mill Ave
General Information
Standard status
Active
Size
2,397 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,143
Building Details
Building Size
2,397 SF
Year Built
1960
Stories
3
Listing Agency:
Brooklyn4u Rltyof Dykerheights
(718) 236-1800
Listed By:
Maria Fabbro
(718) 236-1800
Source:
Elliman
Added: Jun 21
Changed: Aug 7
Last Checked: Aug 29 at 11:27AM
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 Brooklyn4u Rltyof Dykerheights
Investment Insights
Based on property information with market context.
2743 Mill Ave presents a semi-detached two-family residence configured for comfortable separate living. The main unit features three bedrooms, including a master suite with a private bath, along with a bright living room and an eat-in kitchen. Sliding doors lead from the living area to a large deck, providing outdoor space for everyday use. The second unit is a large two-bedroom apartment. Both floors are supported by a full finished basement with a separate entrance, plus private parking for two cars and a large backyard.
The property is described as conveniently located near schools, restaurants, shopping, and transportation. Walking and transit convenience are supported by the provided Walk Score of 88 (Very Walkable) and Transit Score of 68 (Good Transit), with a Bike Score of 54 (Bikeable).
This layout is well-suited for owner-occupants seeking distinct living quarters while maintaining a separate rental unit. The dedicated basement entrance and private parking can also simplify day-to-day logistics and access for both occupants. The outdoor deck and backyard add practical space for entertaining or relaxing, while the two-unit configuration supports flexible use in a single property.
The property is described as conveniently located near schools, restaurants, shopping, and transportation. Walking and transit convenience are supported by the provided Walk Score of 88 (Very Walkable) and Transit Score of 68 (Good Transit), with a Bike Score of 54 (Bikeable).
This layout is well-suited for owner-occupants seeking distinct living quarters while maintaining a separate rental unit. The dedicated basement entrance and private parking can also simplify day-to-day logistics and access for both occupants. The outdoor deck and backyard add practical space for entertaining or relaxing, while the two-unit configuration supports flexible use in a single property.
Key Highlights
- Semi‑detached 2‑family home built in 1960
- Main unit features 3 bedrooms, a master suite with a private bath, and ample closet space
- Eat‑in kitchen and bright living room, plus sliding doors to a large deck
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
$83,947
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
7.24%
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%
$1,678,940
$1.7M
Cap Rate 7%
$1,199,243
$1.2M
Cap Rate 9%
$932,744
$932.7K
Market Conditions
NOI Build-Up for 2,397 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
$122.2K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$119.9K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$83.9K $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%
$1,678,940
Cap Rate 7%
$1,199,243
Cap Rate 9%
$932,744
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,947 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$1.05M
$914.7K – $1.22M
NOI $73,178 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.32M
NOI $138,930 @ 7.0% cap · market cap 11.99%
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
1,261
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
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 - Semi-detached two-family home with a 3-bedroom main unit, a separate 2-bedroom apartment, and private basement access.
Where is this duplex located?
The property is located at 2743 Mill Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,159,000.
What are key features of this property?
This property features: Semi‑detached 2‑family home built in 1960; Main unit features 3 bedrooms, a master suite with a private bath, and ample closet space; Eat‑in kitchen and bright living room, plus sliding doors to a large deck
