Crown Heights Multifamily Investment
For Sale
Contact for pricing
653 Maple St, Brooklyn, NY 11203
Three duplexes for sale in Crown Heights, Brooklyn.
Property Size4,840 SF
Lot Size0.05 Acres
Price / SF$578.51
Days on Market185
Property Features for 653 Maple St
General Information
Standard status
Active
Size
4,840 SF
Class
A
Lot size
0.05 Acres
Property subtype
Multifamily
Zoning
R6
Building Details
Year Built
2020
Listing Agency:
555 Properties LLC
Listed By:
Valerie Sebbag · License #NY 10491209005
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 8 at 3:14PM
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 555 Properties LLC
Investment Insights
Based on property information with market context.
Located between Albany and Troy Ave in Crown Heights, Brooklyn, this property at 653 Maple St features a newly constructed, finished multifamily building. The structure, designed with significant depth, measures 20 feet wide by 60.5 feet long. Situated on a 2,000-square-foot lot (20' x 100'), the property provides 4,840 square feet of residential zoning space. The building includes a full basement, four residential stories, a rooftop accessible to all residents via a 273-square-foot bulkhead, and a large backyard extending approximately 39.5 feet deep. The building is divided into three distinct duplex apartments. Each unit features a 3-bedroom, 2-bathroom layout. Unit 1 covers approximately 1,154 square feet, utilizing the first floor and the basement, and includes private access to the backyard. Unit 2 is a middle duplex totaling approximately 1,182 square feet across two levels and includes a porch in the back. Unit 3, the upper duplex, also totals approximately 1,182 square feet and features easy access to the rooftop, as well as a porch in the back. Every unit is designed with a private master bedroom plus two additional bedrooms.
Key Highlights
- Brand‑new, ground‑up construction in finished condition.
- Three distinct duplex units, each with 3 bedrooms and 2 bathrooms.
- Rooftop access for all residents.
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
$169,505
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
6.05%
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%
$3,390,100
$3.4M
Cap Rate 7%
$2,421,500
$2.4M
Cap Rate 9%
$1,883,389
$1.9M
Market Conditions
NOI Build-Up for 4,840 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
$246.8K $51.00/SF
− Vacancy
−$4.7K −$0.97/SF
EGI
$242.2K $50.03/SF
− OpEx
−$72.6K −$15.01/SF
NOI
$169.5K $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%
$3,390,100
Cap Rate 7%
$2,421,500
Cap Rate 9%
$1,883,389
Alternative Uses
Best Use
Multifamily LT 5
$2.42M
$2.12M – $2.83M
NOI $169,505 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$2.11M
$1.85M – $2.46M
NOI $147,760 @ 7.0% cap · market cap 5.28%
Theoretical Best
Specialty Retail
$4.01M
$3.51M – $4.68M
NOI $280,526 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,531
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Three duplexes for sale in Crown Heights, Brooklyn.
Where is this multifamily property located?
The property is located at 653 Maple St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Brand‑new, ground‑up construction in finished condition.; Three distinct duplex units, each with 3 bedrooms and 2 bathrooms.; Rooftop access for all residents.
