Two-Family Home with Finished
New
For Sale
$1,538,000
548 56th St, Brooklyn, NY 11220
Two residential units offer separate bedrooms and bathrooms, plus finished basement space with its own entrance.
Property Size1,600 SF
Lot Size0.05 Acres
Days on Market4
Property Features for 548 56th St
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Zoning
R6B
Units
Unit Mix
3BR/2BA, 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,478
Building Details
Building Size
1,600 SF
Year Built
1901
Buildings
1
Stories
2
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Xue (Shirley)Chen · License #10301219270
(718) 382-0001
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 7:58AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1901, this duplex occupies a 20' x 100' lot with a 20' x 45' building and R6B zoning. The first-floor residence has 3 bedrooms and 2 full bathrooms, while the upper unit contains 4 bedrooms and 2 full bathrooms. A finished basement with a separate entrance adds flexible interior space. The property will be delivered vacant.
The home is located at 548 56th St in Brooklyn’s Sunset Park area, near shopping, restaurants, public transportation, and subway lines. WalkScore and TransitScore are each 95, while BikeScore is 76.
The home is located at 548 56th St in Brooklyn’s Sunset Park area, near shopping, restaurants, public transportation, and subway lines. WalkScore and TransitScore are each 95, while BikeScore is 76.
Key Highlights
- Two‑family duplex with 3 bedrooms and 2 full bathrooms on the first floor
- Upper unit includes 4 bedrooms and 2 full bathrooms
- Finished basement with a separate entrance
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
$47,639
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
3.10%
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%
$952,780
$952.8K
Cap Rate 7%
$680,557
$680.6K
Cap Rate 9%
$529,322
$529.3K
Market Conditions
NOI Build-Up for 1,600 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
$71.0K $44.40/SF
− Vacancy
−$3.0K −$1.86/SF
EGI
$68.1K $42.54/SF
− OpEx
−$20.4K −$12.76/SF
NOI
$47.6K $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%
$952,780
Cap Rate 7%
$680,557
Cap Rate 9%
$529,322
Alternative Uses
Best Use
Multifamily LT 5
$680.6K
$595.5K – $794.0K
NOI $47,639 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$609.5K
$533.3K – $711.1K
NOI $42,667 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.04M
$907.6K – $1.21M
NOI $72,607 @ 7.0% cap · market cap 4.72%
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
7,048
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
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 residential units offer separate bedrooms and bathrooms, plus finished basement space with its own entrance.
Where is this duplex located?
The property is located at 548 56th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,538,000.
What are key features of this property?
This property features: Two‑family duplex with 3 bedrooms and 2 full bathrooms on the first floor; Upper unit includes 4 bedrooms and 2 full bathrooms; Finished basement with a separate entrance
