Corner Brick Duplex with
For Sale
$2,899,000
4423 9th Ave, Brooklyn, NY 11220
Corner semi-detached residence with private driveway, separate entrances, finished lower level, and room for three vehicles.
Property Size2,840 SF
Days on Market8
Property Features for 4423 9th Ave
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,956
Building Details
Building Size
2,840 SF
Year Built
1925
Stories
2
Listing Agency:
Remax Real Estate Professionals
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 24 at 3:08PM
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 Remax Real Estate Professionals
Investment Insights
Based on property information with market context.
Built in 1925, this semi-detached brick duplex at 4423 9th Ave includes a 20x71 house on a 25x100 lot. The second floor contains four bedrooms, two full bathrooms, a kitchen, living room, and dining room. The first floor offers three bedrooms, 1.5 bathrooms, a kitchen, living room, and dining room. A full finished basement adds a family room, recreation room, media room, summer kitchen, and bathrooms, with separate entrances for added access flexibility.
The property also includes a private driveway with three-car parking. It is positioned in Brooklyn’s Sunset Park/Boro Park area near transportation, shopping along 8th Ave and Fort Hamilton Pkwy, schools, and houses of worship. Walk Score is 91, Transit Score is 89, and bikeScore is 74.
The property also includes a private driveway with three-car parking. It is positioned in Brooklyn’s Sunset Park/Boro Park area near transportation, shopping along 8th Ave and Fort Hamilton Pkwy, schools, and houses of worship. Walk Score is 91, Transit Score is 89, and bikeScore is 74.
Key Highlights
- Two‑family brick home built in 1925
- 20x71 house on a 25x100 lot
- Full finished basement with family, recreation, media, and summer kitchen areas
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
$84,560
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
2.92%
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%
$1,691,200
$1.7M
Cap Rate 7%
$1,208,000
$1.2M
Cap Rate 9%
$939,556
$939.6K
Market Conditions
NOI Build-Up for 2,840 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
$126.1K $44.40/SF
− Vacancy
−$5.3K −$1.86/SF
EGI
$120.8K $42.54/SF
− OpEx
−$36.2K −$12.76/SF
NOI
$84.6K $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%
$1,691,200
Cap Rate 7%
$1,208,000
Cap Rate 9%
$939,556
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,560 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$1.08M
$946.7K – $1.26M
NOI $75,733 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,877 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,877
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Corner semi-detached residence with private driveway, separate entrances, finished lower level, and room for three vehicles.
Where is this duplex located?
The property is located at 4423 9th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: Two‑family brick home built in 1925; 20x71 house on a 25x100 lot; Full finished basement with family, recreation, media, and summer kitchen areas
