Attached Three-Family
For Sale
$1,395,000
429 74th Street, Brooklyn, NY 11209
Residential, Duplex, Brooklyn, NY
Property Size2,425 SF
Lot Size0.04 Acres
Price / SF$575.26
Days on Market59
Property Features for 429 74th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5B
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 6
Interior features
Refrigerator, Stove
Subdivision
Bay Ridge
Standard status
Active
Size
2,425 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
10949
Building Details
Year built
1910
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Mei Hua (Michelle) Dong · License #10401364256
(718) 612-3088
Added: Jun 29
Changed: Aug 23
Last Checked: Aug 26 at 9:06AM
MLS# 502596
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 attached three-family property contains 2,425 square feet and offers a distinct apartment on each level. The unit mix includes one bedroom on the first floor, two bedrooms on the second floor, and three bedrooms on the third floor. Interior features include hardwood and tile flooring, refrigerators, and stoves, with three bathrooms serving the residence. The structure dates to 1910 and has a flat roof.
The property occupies a 0.0406-acre lot at 429 74th Street in Brooklyn, within ZIP Code 11209. R5B zoning supports its multifamily classification. Shopping, restaurants, cafes, and daily services are located along 3rd and 5th Avenues. Nearby transit includes the R train at 77th Street and Bay Ridge Avenue, as well as X27, X37, B9, B16, B37, B63, and B70 bus service.
The property occupies a 0.0406-acre lot at 429 74th Street in Brooklyn, within ZIP Code 11209. R5B zoning supports its multifamily classification. Shopping, restaurants, cafes, and daily services are located along 3rd and 5th Avenues. Nearby transit includes the R train at 77th Street and Bay Ridge Avenue, as well as X27, X37, B9, B16, B37, B63, and B70 bus service.
Key Highlights
- Three apartments with one-, two-, and three‑bedroom layouts
- 2,425 square feet on a 0.0406‑acre lot
- R5B zoning
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
$84,928
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
6.09%
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%
$1,698,560
$1.7M
Cap Rate 7%
$1,213,257
$1.2M
Cap Rate 9%
$943,644
$943.6K
Market Conditions
NOI Build-Up for 2,425 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
$123.7K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$121.3K $50.03/SF
− OpEx
−$36.4K −$15.01/SF
NOI
$84.9K $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%
$1,698,560
Cap Rate 7%
$1,213,257
Cap Rate 9%
$943,644
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $84,928 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$1.06M
$925.4K – $1.23M
NOI $74,033 @ 7.0% cap · market cap 5.31%
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,553 @ 7.0% cap · market cap 10.08%
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
5,553
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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 - Attached R5B property with three apartments configured for multifamily occupancy.
Where is this triplex located?
The property is located at 429 74th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three apartments with one-, two-, and three‑bedroom layouts; 2,425 square feet on a 0.0406‑acre lot; R5B zoning
