Two-Family Duplex With
For Sale
$1,659,000
524 51st St, Brooklyn, NY 11220
Income-producing attached residence near transit, shopping, dining, and schools.
Property Size2,820 SF
Days on Market8
Property Features for 524 51st St
General Information
Standard status
Active
Size
2,820 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,712
Building Details
Building Size
2,820 SF
Year Built
1910
Stories
2
Listing Agency:
Tiger Realty
Listed By:
Yi (Elaine) Lin
(917) 708-9966
Source:
Elliman
Added: Sep 18
Last Checked: Sep 24 at 12:38PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This attached duplex offers two residential units within a building measuring 20 by 47 feet on a 20-by-100-foot lot. A full basement provides additional interior space, while the 1910 construction reflects the property’s established building history. The asset is currently described as income-producing and may suit an owner-occupant or investor seeking a two-family configuration.
Located at 524 51st St in Brooklyn, the property is near public transportation, shopping, restaurants, and schools. WalkScore is 91, BikeScore is 74, and TransitScore is 89, reflecting convenient access to walking, cycling, and transit options.
Located at 524 51st St in Brooklyn, the property is near public transportation, shopping, restaurants, and schools. WalkScore is 91, BikeScore is 74, and TransitScore is 89, reflecting convenient access to walking, cycling, and transit options.
Key Highlights
- Two‑family attached duplex on a 20x100 lot
- Building size of 20x47
- Full basement included
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
$83,964
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
5.06%
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%
$1,679,280
$1.7M
Cap Rate 7%
$1,199,486
$1.2M
Cap Rate 9%
$932,933
$932.9K
Market Conditions
NOI Build-Up for 2,820 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
$125.2K $44.40/SF
− Vacancy
−$5.3K −$1.86/SF
EGI
$119.9K $42.54/SF
− OpEx
−$36.0K −$12.76/SF
NOI
$84.0K $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%
$1,679,280
Cap Rate 7%
$1,199,486
Cap Rate 9%
$932,933
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,964 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$1.07M
$940.0K – $1.25M
NOI $75,200 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,969 @ 7.0% cap · market cap 7.71%
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
6,917
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing attached residence near transit, shopping, dining, and schools.
Where is this duplex located?
The property is located at 524 51st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,659,000.
What are key features of this property?
This property features: Two‑family attached duplex on a 20x100 lot; Building size of 20x47; Full basement included
