Renovated Two-Family
New
For Sale
$1,349,000
2745 Mill Avenue, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size2,397 SF
Lot Size0.05 Acres
Price / SF$562.79
Days on Market5
Property Features for 2745 Mill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Interior features
Central Air, Central Air - Split, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Basement
Full, Finished
Subdivision
Mill Basin
Standard status
Active
Size
2,397 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10417
Amenities
radiant heated floors
new roof
large deck
Building Details
Year built
1960
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Architectural style
Other
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Jason Sciulara
(718) 763-4110
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 21 at 8:06PM
MLS# 504448
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 brick two-family property contains a three-bedroom, 2.5-bath duplex above a separate two-bedroom, one-bath residence. The 2,397-square-foot building also includes a full finished basement with both interior and exterior access. Major renovation work was completed approximately 12 years ago, while the basement was overhauled approximately 8 years ago.
Property features include radiant-heated floors, central air, a newer roof, a newer hot water heater, laundry equipment, and a deck connected to the kitchen. Interior finishes include hardwood and tile flooring, with a kitchen equipped with a stove, refrigerator, and microwave. The 0.0536-acre parcel is zoned R5 and located at 2745 Mill Avenue in Brooklyn, New York.
Property features include radiant-heated floors, central air, a newer roof, a newer hot water heater, laundry equipment, and a deck connected to the kitchen. Interior finishes include hardwood and tile flooring, with a kitchen equipped with a stove, refrigerator, and microwave. The 0.0536-acre parcel is zoned R5 and located at 2745 Mill Avenue in Brooklyn, New York.
Key Highlights
- Two‑family brick property with a three‑bedroom, 2.5‑bath duplex
- Separate two‑bedroom, one‑bath residence
- 2,397 square feet on a 0.0536‑acre lot
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
6.22%
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 6.22%
Second Best
Apartment 5plus
$1.05M
$914.7K – $1.22M
NOI $73,178 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.32M
NOI $138,930 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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 - R5-zoned brick residence with a finished basement, separate access, and updated interior systems.
Where is this duplex located?
The property is located at 2745 Mill Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Two‑family brick property with a three‑bedroom, 2.5‑bath duplex; Separate two‑bedroom, one‑bath residence; 2,397 square feet on a 0.0536‑acre lot
