Renovated Two-Family Brick
For Sale
$1,950,000
573 79th Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size2,600 SF
Lot Size0.06 Acres
Price / SF$750
Days on Market94
Property Features for 573 79th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 3, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4
Parking features
Garage - Attached
Interior features
A/C Unit, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Basement
Full, Finished
Subdivision
Bay Ridge
Standard status
Active
Size
2,600 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
10822
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Ping Chen
(917) 536-3632
Added: Jun 8
Changed: Sep 6
Last Checked: Sep 9 at 9:06PM
MLS# 502053
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 brick duplex contains two self-contained residences with six bedrooms and three full or partial bathrooms overall. The first-floor unit includes a sunroom, living room, formal dining area, eat-in kitchen, three bedrooms, and a full bathroom. The second-floor unit offers a comparable three-bedroom arrangement, plus a balcony. A finished basement provides a recreation room, laundry area, boiler room, additional open space, a separate entrance, and a 3/4 bathroom.
The approximately 2,600-square-foot property occupies a 25x100 lot and includes an attached garage and an approximately 10-foot-wide shared driveway. Renovated approximately seven years ago, the home has hardwood and tile flooring, approximately 9-foot ceilings, separate boilers and furnaces, and a flat roof. Located in Brooklyn, the property is near transportation, shopping, restaurants, parks, and schools.
The approximately 2,600-square-foot property occupies a 25x100 lot and includes an attached garage and an approximately 10-foot-wide shared driveway. Renovated approximately seven years ago, the home has hardwood and tile flooring, approximately 9-foot ceilings, separate boilers and furnaces, and a flat roof. Located in Brooklyn, the property is near transportation, shopping, restaurants, parks, and schools.
Key Highlights
- Two‑family brick duplex with approximately 2,600 square feet of living space
- First floor measures 20x68; second floor measures 20x62
- Six‑bedroom layout with three bathrooms, including a finished basement with 3/4 bathroom
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
$91,056
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
4.67%
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%
$1,821,120
$1.8M
Cap Rate 7%
$1,300,800
$1.3M
Cap Rate 9%
$1,011,733
$1.0M
Market Conditions
NOI Build-Up for 2,600 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
$132.6K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$130.1K $50.03/SF
− OpEx
−$39.0K −$15.01/SF
NOI
$91.1K $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%
$1,821,120
Cap Rate 7%
$1,300,800
Cap Rate 9%
$1,011,733
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,056 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$1.13M
$992.2K – $1.32M
NOI $79,375 @ 7.0% cap · market cap 4.07%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 7.73%
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
5,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Check the figures for this property
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 self-contained residences feature updated kitchens, finished lower-level space, and independent heating systems.
Where is this duplex located?
The property is located at 573 79th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two‑family brick duplex with approximately 2,600 square feet of living space; First floor measures 20x68; second floor measures 20x62; Six‑bedroom layout with three bathrooms, including a finished basement with 3/4 bathroom
