Brooklyn Two-Family House For
For Sale
$1,680,000
729 47th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size2,146 SF
Lot Size0.05 Acres
Price / SF$782.85
Days on Market1406
Property Features for 729 47th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Parking features
Garage - Attached
Patio and Porch features
Porch
Interior features
A/C Unit - Window, Porch, Refrigerator, Stove
Basement
Finished
Subdivision
Sunset Park
Standard status
Active
Size
2,146 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7708
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Cuie (Maggie) Wu · License #10401322631
(718) 612-3088
Added: Oct 10, 2022
Changed: Aug 4
Last Checked: Aug 15 at 12:06PM
MLS# 467305
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 legal two-family house is located in Sunset Park, Brooklyn. The first floor features 3 bedrooms and one bathroom, while the second floor offers 4 bedrooms and one bathroom. The property includes a finished basement with a separate entrance. A community driveway provides two parking spaces. The house is conveniently located near local shops and transportation. The lot size is 0.0459 acres and the property size is 2146 square feet. The property is being sold AS IS. The zoning is R6B.
Key Highlights
- Legal two‑family house
- Finished basement with separate entrance
- Community driveway with two parking spaces
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
$63,896
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
3.80%
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%
$1,277,920
$1.3M
Cap Rate 7%
$912,800
$912.8K
Cap Rate 9%
$709,956
$710.0K
Market Conditions
NOI Build-Up for 2,146 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
$95.3K $44.40/SF
− Vacancy
−$4.0K −$1.86/SF
EGI
$91.3K $42.54/SF
− OpEx
−$27.4K −$12.76/SF
NOI
$63.9K $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 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%
$1,277,920
Cap Rate 7%
$912,800
Cap Rate 9%
$709,956
Alternative Uses
Best Use
Multifamily LT 5
$912.8K
$798.7K – $1.06M
NOI $63,896 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$817.5K
$715.3K – $953.8K
NOI $57,227 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,384 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,194
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 - Legal two-family house in Sunset Park, convenient to shops.
Where is this duplex located?
The property is located at 729 47th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Legal two‑family house; Finished basement with separate entrance; Community driveway with two parking spaces
