Brick Two-Family Home with
For Sale
$1,175,000
543 Miller Avenue, Brooklyn, NY 11207
Two three-bedroom apartments are complemented by a finished basement and a private driveway.
Property Size1,620 SF
Days on Market42
Property Features for 543 Miller Avenue
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,635
Amenities
private driveway
spacious backyard
Building Details
Building Size
1,620 SF
Year Built
1901
Buildings
1
Units
2
Construction
brick
Listing Agency:
Posh Premises LLC
(718) 219-8886
Listed By:
Scheffee Wilson
(718) 219-8886
Source:
Cohenandcohenrealty
Added: Jul 3
Changed: Aug 13
Last Checked: Aug 13 at 4:12AM
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 Posh Premises LLC
Investment Insights
Based on property information with market context.
Located at 543 Miller Avenue in Brooklyn, this brick two-family residence contains a three-bedroom apartment on each of its two primary floors. The building measures approximately 18 ft x 46 ft and includes a finished basement with multiple finished rooms and a full bathroom. The rear portion of the property provides additional flexible-use space, while the private driveway accommodates 5+ vehicles. A spacious backyard adds outdoor area to the property, which was built in 1901 and classified as Building Class B1.
The home is directly across from a neighborhood park and is near schools, MTA bus and subway service, shopping, and everyday conveniences. Gateway Center is approximately 9 minutes away, Lindenwood Diner is approximately 10 minutes away, and JFK International Airport is approximately 25 minutes away. The finished basement and rear bonus space are not represented as legal dwelling units unless independently verified.
The home is directly across from a neighborhood park and is near schools, MTA bus and subway service, shopping, and everyday conveniences. Gateway Center is approximately 9 minutes away, Lindenwood Diner is approximately 10 minutes away, and JFK International Airport is approximately 25 minutes away. The finished basement and rear bonus space are not represented as legal dwelling units unless independently verified.
Key Highlights
- Two‑family brick residence with a 3‑bedroom apartment on each primary floor
- Approximately 18 ft x 46 ft building dimensions
- Private driveway with parking for 5+ vehicles
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
$56,735
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
4.83%
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%
$1,134,700
$1.1M
Cap Rate 7%
$810,500
$810.5K
Cap Rate 9%
$630,389
$630.4K
Market Conditions
NOI Build-Up for 1,620 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
$82.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$81.1K $50.03/SF
− OpEx
−$24.3K −$15.01/SF
NOI
$56.7K $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%
$1,134,700
Cap Rate 7%
$810,500
Cap Rate 9%
$630,389
Alternative Uses
Best Use
Multifamily LT 5
$810.5K
$709.2K – $945.6K
NOI $56,735 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$706.5K
$618.2K – $824.3K
NOI $49,457 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,895 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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?
Duplex - Two three-bedroom apartments are complemented by a finished basement and a private driveway.
Where is this duplex located?
The property is located at 543 Miller Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Two‑family brick residence with a 3‑bedroom apartment on each primary floor; Approximately 18 ft x 46 ft building dimensions; Private driveway with parking for 5+ vehicles
