Two-Family
New
For Sale
$1,725,000
457 Saint Johns Pl, Brooklyn, NY 11238
Two-unit brownstone requiring complete renovation in a highly walkable Brooklyn setting.
Property Size1,824 SF
Days on Market2
Property Features for 457 Saint Johns Pl
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Multi Family
Property Condition
Severity
Major Repairs Needed
Evidence
In need of a complete renovation
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,375
Building Details
Building Size
1,824 SF
Year Built
1910
Stories
2
Construction
brownstone
Listed By:
Wade Jabour
(718) 748-1800
Source:
Elliman
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 9:27AM
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 Wade Jabour
Investment Insights
Based on property information with market context.
Built in 1910, this two-family brownstone at 457 Saint Johns Pl presents a substantial renovation project. The property requires a complete overhaul, allowing the future owner to rework the existing building into a customized residential asset. The two-unit configuration provides a defined starting point for planning the renovation and redesign.
The property is located in Brooklyn, NY 11238. WalkScore is 87, indicating a Very Walkable setting, while a BikeScore of 88 reflects a Very Bikeable environment. A TransitScore of 100 identifies the area as a Rider's Paradise.
The property is located in Brooklyn, NY 11238. WalkScore is 87, indicating a Very Walkable setting, while a BikeScore of 88 reflects a Very Bikeable environment. A TransitScore of 100 identifies the area as a Rider's Paradise.
Key Highlights
- Two‑family brownstone built in 1910
- Complete renovation required
- Located at 457 Saint Johns Pl, Brooklyn, NY 11238
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
$63,880
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
3.70%
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%
$1,277,600
$1.3M
Cap Rate 7%
$912,571
$912.6K
Cap Rate 9%
$709,778
$709.8K
Market Conditions
NOI Build-Up for 1,824 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
$93.0K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$91.3K $50.03/SF
− OpEx
−$27.4K −$15.01/SF
NOI
$63.9K $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%
$1,277,600
Cap Rate 7%
$912,571
Cap Rate 9%
$709,778
Alternative Uses
Best Use
Multifamily LT 5
$912.6K
$798.5K – $1.06M
NOI $63,880 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$795.5K
$696.1K – $928.1K
NOI $55,685 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,719 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,226
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit brownstone requiring complete renovation in a highly walkable Brooklyn setting.
Where is this duplex located?
The property is located at 457 Saint Johns Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Two‑family brownstone built in 1910; Complete renovation required; Located at 457 Saint Johns Pl, Brooklyn, NY 11238
