Triplex with Private
New
For Sale
$1,199,999
405 Miller Avenue, Brooklyn, NY 11207
Residential Income, Brooklyn, NY
Property Size1,900 SF
Lot Size0.10 Acres
Price / SF$631.58
Days on Market2
Property Features for 405 Miller Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
East New York
Standard status
Active
Size
1,900 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
1493
Amenities
private backyard
Building Details
Year built
1901
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
855-305-DEAL
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 5:06PM
MLS# 11960989
Copyright © 2026 My State MLS. 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 1,900-square-foot multifamily property is configured as a three-family residence and includes modern finishes throughout. The first floor contains a two-bedroom, one-bath layout with direct access to a private backyard. The oversized basement offers potential for an additional bedroom, subject to applicable approvals and requirements.
The property occupies a 0.1033-acre lot at 405 Miller Avenue in Brooklyn, NY 11207. The surrounding area provides access to transportation, shopping, and local amenities. Its multifamily configuration supports flexible occupancy arrangements, including the possibility of combining personal residence with rental use, as described in the property information.
The property occupies a 0.1033-acre lot at 405 Miller Avenue in Brooklyn, NY 11207. The surrounding area provides access to transportation, shopping, and local amenities. Its multifamily configuration supports flexible occupancy arrangements, including the possibility of combining personal residence with rental use, as described in the property information.
Key Highlights
- Three‑family residence configured within a 1,900‑square‑foot multifamily property
- 0.1033‑acre lot at 405 Miller Avenue, Brooklyn, NY 11207
- First‑floor two‑bedroom, one‑bath layout
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
$66,541
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
5.55%
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%
$1,330,820
$1.3M
Cap Rate 7%
$950,586
$950.6K
Cap Rate 9%
$739,344
$739.3K
Market Conditions
NOI Build-Up for 1,900 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
$96.9K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$95.1K $50.03/SF
− OpEx
−$28.5K −$15.01/SF
NOI
$66.5K $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%
$1,330,820
Cap Rate 7%
$950,586
Cap Rate 9%
$739,344
Alternative Uses
Best Use
Multifamily LT 5
$950.6K
$831.8K – $1.11M
NOI $66,541 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$828.6K
$725.1K – $966.8K
NOI $58,005 @ 7.0% cap · market cap 4.83%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,124 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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?
Triplex - Updated multifamily residence with flexible living arrangements and direct outdoor access from the first floor.
Where is this triplex located?
The property is located at 405 Miller Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Three‑family residence configured within a 1,900‑square‑foot multifamily property; 0.1033‑acre lot at 405 Miller Avenue, Brooklyn, NY 11207; First‑floor two‑bedroom, one‑bath layout
