Two-Unit Duplex with
New
For Sale
$725,000
551 SUTTER Avenue, Brooklyn, NY 11207
Two-story attached dwelling with partial brick construction and a second-floor balcony.
Property Size1,200 SF
Price / SF$604.17
Days on Market5
Property Features for 551 SUTTER Avenue
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,448
Amenities
balcony
Building Details
Building Size
1,200 SF
Year Built
1935
Buildings
1
Stories
2
Construction
partial brick
Listing Agency:
ISLAND ADVANTAGE REALTY LLC
Listed By:
Todd Yovino · License #49YO0956714
(516) 819-7800
Source:
Carlinwright
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 8:21AM
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 ISLAND ADVANTAGE REALTY LLC
Investment Insights
Based on property information with market context.
This attached duplex contains two residential units within a two-story dwelling built in 1935. Partial brick construction and a second-floor balcony contribute to the property’s established physical character and period design.
Located at 551 Sutter Avenue in Brooklyn, the property offers access to area stores, eateries, shops, transportation, parks, and other local amenities. Its two-unit configuration provides a defined residential income property format in an established Brooklyn setting.
Located at 551 Sutter Avenue in Brooklyn, the property offers access to area stores, eateries, shops, transportation, parks, and other local amenities. Its two-unit configuration provides a defined residential income property format in an established Brooklyn setting.
Key Highlights
- Two‑unit residential duplex
- Two‑story attached dwelling
- Partial brick construction
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
$42,026
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
5.80%
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%
$840,520
$840.5K
Cap Rate 7%
$600,371
$600.4K
Cap Rate 9%
$466,956
$467.0K
Market Conditions
NOI Build-Up for 1,200 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
$61.2K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$60.0K $50.03/SF
− OpEx
−$18.0K −$15.01/SF
NOI
$42.0K $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%
$840,520
Cap Rate 7%
$600,371
Cap Rate 9%
$466,956
Alternative Uses
Best Use
Multifamily LT 5
$600.4K
$525.3K – $700.4K
NOI $42,026 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$523.4K
$457.9K – $610.6K
NOI $36,635 @ 7.0% cap · market cap 5.05%
Theoretical Best
Specialty Retail
$993.6K
$869.4K – $1.16M
NOI $69,552 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,606
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story attached dwelling with partial brick construction and a second-floor balcony.
Where is this duplex located?
The property is located at 551 SUTTER Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit residential duplex; Two‑story attached dwelling; Partial brick construction
