Residential Income
For Sale
$1,749,999
374 East 9th Street, Brooklyn, NY 11218
Residential income property with finished basement and attic, supported by strong walk and transit access.
Property Size1,650 SF
Days on Market82
Property Features for 374 East 9th Street
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi Family Home
Building Details
Building Size
1,650 SF
Listing Agency:
Best Realty Professionals
Listed By:
Katia Belony
(718) 484-3745
Source:
Michaelfraulo
Added: Jun 19
Changed: Sep 8
Last Checked: Sep 8 at 5:20AM
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 Best Realty Professionals
Investment Insights
Based on property information with market context.
This residential income property offers additional finished space with a basement and attic already completed, providing useful flexibility for storage, recreation, or other household needs. The layout is presented as a single home-style asset, with interior improvements that can support day-to-day living and accommodate a range of occupant preferences.
Located in Brooklyn with convenient access to shopping, dining, and transportation. WalkScore is 93 (Walker’s Paradise), while transitScore is 95 (Rider’s Paradise) and bikeScore is 81 (Very Bikeable), reflecting an area where errands and commuting can be handled with minimal reliance on a car.
For buyers looking at a residential income opportunity, the finished basement and attic can be an attractive feature because it adds usable interior space without requiring immediate renovation. The combination of completed lower and upper areas, along with strong mobility scores for pedestrians, bikes, and transit riders, makes the property worth considering for investors or households seeking an established home with practical indoor flexibility.
Located in Brooklyn with convenient access to shopping, dining, and transportation. WalkScore is 93 (Walker’s Paradise), while transitScore is 95 (Rider’s Paradise) and bikeScore is 81 (Very Bikeable), reflecting an area where errands and commuting can be handled with minimal reliance on a car.
For buyers looking at a residential income opportunity, the finished basement and attic can be an attractive feature because it adds usable interior space without requiring immediate renovation. The combination of completed lower and upper areas, along with strong mobility scores for pedestrians, bikes, and transit riders, makes the property worth considering for investors or households seeking an established home with practical indoor flexibility.
Key Highlights
- Residential income property with a finished basement
- Finished attic for additional flexible space
- Walk Score of 93 (Walker’s Paradise)
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
$50,373
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
2.88%
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%
$1,007,460
$1.0M
Cap Rate 7%
$719,614
$719.6K
Cap Rate 9%
$559,700
$559.7K
Market Conditions
NOI Build-Up for 1,650 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
$93.5K $56.64/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$91.6K $55.51/SF
− OpEx
−$41.2K −$24.98/SF
NOI
$50.4K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,007,460
Cap Rate 7%
$719,614
Cap Rate 9%
$559,700
Alternative Uses
Best Use
Apartment 5plus
$719.6K
$629.7K – $839.6K
NOI $50,373 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.59M
NOI $95,634 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,259
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
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?
Multifamily property - Residential income property with finished basement and attic, supported by strong walk and transit access.
Where is this multifamily property located?
The property is located at 374 East 9th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,749,999.
What are key features of this property?
This property features: Residential income property with a finished basement; Finished attic for additional flexible space; Walk Score of 93 (Walker’s Paradise)
