Building Details

Year built 1920

Floors in Building 2

Flooring type Tile

Building materials Brick

Roof type Tile

Listing Agency: Tiger Realty

Listed By: Hang (Tyler) Chen · License #HC3855 Show Phone

Added: Aug 10, 2025 Changed: Oct 13 Last Checked: Oct 18 at 7:06AM

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MLS# 494925

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Investment Insights

Based on property information with market context.

This two-family duplex is a brick residence built in 1920, with 2,280 square feet of building area on a 0.046-acre lot. The structure measures 20 by 57 feet and includes a finished basement that can provide additional storage or usable space. Interior features include a refrigerator and stove, with tile flooring and a tile roof. Two bathrooms are identified in the property details.

The property is located at 674 54th Street in Brooklyn, within ZIP Code 11220. Shopping and transportation are described as nearby, placing everyday services and transit within the surrounding area.

Key Highlights

• Two‑family brick residence built in 1920
• 2,280 square feet on a 0.046‑acre lot
• Building dimensions: 20'x57' on a 20'x100' lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$67,886

Cap Rate

3.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,357,720 $1.4M

Cap Rate 7%

$969,800 $969.8K

Cap Rate 9%

$754,289 $754.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,280 SF

Gross rent

$101.2K $44.40/SF

− Vacancy

−$4.3K −$1.86/SF

EGI

$97.0K $42.54/SF

− OpEx

−$29.1K −$12.76/SF

NOI

$67.9K $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 Rate 5%

$1,357,720

Cap Rate 7%

$969,800

Cap Rate 9%

$754,289

Alternative Uses

Best Use

Multifamily LT 5

$969.8K

$848.6K – $1.13M (±1% cap)

NOI $67,886 @ 7.0% cap · market cap 3.02%

Second Best

Apartment 5plus

$868.6K

$760.0K – $1.01M (±1% cap)

NOI $60,800 @ 7.0% cap · market cap 2.70%

Theoretical Best

Office A

$1.48M

$1.29M – $1.72M (±1% cap)

NOI $103,465 @ 7.0% cap · market cap 4.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Gym & Fitness Center Nursing Home Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

7,331

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-family brick residence with a finished basement, two bathrooms, and convenient access to shopping and transportation.

Where is this duplex located?

The property is located at 674 54th Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: Two‑family brick residence built in 1920; 2,280 square feet on a 0.046‑acre lot; Building dimensions: 20'x57' on a 20'x100' lot