Two-Family Duplex with
For Sale
$1,325,000
322 56th St, Brooklyn, NY 11220
Vacant two-family property with an upper-level duplex and separate first-floor apartment.
Property Size2,352 SF
Days on Market14
Property Features for 322 56th St
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,891
Building Details
Building Size
2,352 SF
Year Built
1901
Buildings
1
Stories
3
Listing Agency:
Tiger Realty
Listed By:
Yawei (Angel) Yang
(917) 708-9966
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Sep 1 at 8:17PM
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 two-family property includes a four-bedroom duplex occupying the second and third floors, along with a separate one-bedroom apartment on the first floor. A full basement with high ceilings adds additional space within the building. The property is scheduled for delivery vacant.
Located at 322 56th St in Brooklyn, the building is near shops, restaurants, and other local amenities. WalkScore is 97, BikeScore is 82, and TransitScore is 86. The property was built in 1901.
Located at 322 56th St in Brooklyn, the building is near shops, restaurants, and other local amenities. WalkScore is 97, BikeScore is 82, and TransitScore is 86. The property was built in 1901.
Key Highlights
- Four‑bedroom duplex spans the second and third floors
- Separate one‑bedroom apartment on the first floor
- Full basement with high ceilings
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
$70,030
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
5.29%
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%
$1,400,600
$1.4M
Cap Rate 7%
$1,000,429
$1.0M
Cap Rate 9%
$778,111
$778.1K
Market Conditions
NOI Build-Up for 2,352 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
$104.4K $44.40/SF
− Vacancy
−$4.4K −$1.86/SF
EGI
$100.0K $42.54/SF
− OpEx
−$30.0K −$12.76/SF
NOI
$70.0K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,400,600
Cap Rate 7%
$1,000,429
Cap Rate 9%
$778,111
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.4K – $1.17M
NOI $70,030 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$896.0K
$784.0K – $1.05M
NOI $62,720 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,732 @ 7.0% cap · market cap 8.06%
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
5,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Vacant two-family property with an upper-level duplex and separate first-floor apartment.
Where is this duplex located?
The property is located at 322 56th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Four‑bedroom duplex spans the second and third floors; Separate one‑bedroom apartment on the first floor; Full basement with high ceilings
