Two-Family Duplex With Renovation
New
For Sale
$1,725,000
457 Saint Johns Place, Brooklyn, NY 11238
Residential, Brooklyn, NY
Property Size1,824 SF
Lot Size0.04 Acres
Price / SF$945.72
Days on Market2
Property Features for 457 Saint Johns Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Full, Unfinished
Subdivision
Crown Heights
Standard status
Active
Size
1,824 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2375
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Masonry
Roof type
Flat
Listing Agency:
Jabour Realty Company
Listed By:
Peter Asmar
(718) 748-1800
Added: Sep 9
Last Checked: Sep 10 at 8:06AM
MLS# 504402
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 two-family duplex at 457 Saint Johns Place is a 1,824-square-foot masonry property built in 1910. The building has a flat roof, three listed bathrooms, and an existing refrigerator and stove. The property requires complete renovation, providing a basis for a full redesign of the interior configuration and finishes.
The parcel contains 0.0363 acres and carries R7A zoning. Located in Brooklyn, the property is offered for sale to cash buyers only. Its two-family layout and residential zoning establish the core framework for a renovated residential property.
The parcel contains 0.0363 acres and carries R7A zoning. Located in Brooklyn, the property is offered for sale to cash buyers only. Its two-family layout and residential zoning establish the core framework for a renovated residential property.
Key Highlights
- Two‑family duplex configuration
- 1,824 square feet of property size
- 0.0363‑acre lot
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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Open Analytics
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 - Masonry construction, a flat roof, and existing kitchen appliances define this residential renovation project.
Where is this duplex located?
The property is located at 457 Saint Johns Place 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 duplex configuration; 1,824 square feet of property size; 0.0363‑acre lot
