Two-Family Duplex with Finished
For Sale
$1,538,000
548 56th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size1,600 SF
Lot Size0.05 Acres
Price / SF$961.25
Days on Market9
Property Features for 548 56th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 7, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1
Basement
Finished
Subdivision
Sunset Park
Standard status
Active
Size
1,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5478
Building Details
Year built
1901
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Wood Frame
Roof type
Flat
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Edmond Lin · License #10301219270
(718) 382-0001
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 13 at 9:06AM
MLS# 503543
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 is arranged across a 1,600-square-foot building on a 0.046-acre lot. The first-floor residence includes 3 bedrooms and 2 full bathrooms, while the second-floor unit provides 4 bedrooms and 2 full bathrooms. A fully finished basement with its own entrance adds usable space to the property. Wood-frame construction, hardwood flooring, and a flat roof are among the existing features. The property was built in 1901 and is delivered vacant.
Located at 548 56th Street in Brooklyn, the property carries R6B zoning and sits near shopping, restaurants, public transportation, and subway lines. The lot measures 20' x 100', with a 20' x 45' building footprint. Its two residential units and separate-entry basement create a clearly defined multifamily configuration.
Located at 548 56th Street in Brooklyn, the property carries R6B zoning and sits near shopping, restaurants, public transportation, and subway lines. The lot measures 20' x 100', with a 20' x 45' building footprint. Its two residential units and separate-entry basement create a clearly defined multifamily configuration.
Key Highlights
- Two‑family layout with 3‑bedroom and 4‑bedroom units
- 1,600 square feet on a 0.046‑acre lot
- Fully finished basement with 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 - Vacant two-family property with separate entrances, hardwood floors, and access to shopping, restaurants, public transportation, and subway lines.
Where is this duplex located?
The property is located at 548 56th Street 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 layout with 3‑bedroom and 4‑bedroom units; 1,600 square feet on a 0.046‑acre lot; Fully finished basement with separate entrance
