Modern Two-Family Duplex
New
For Sale
$1,600,000
733 Greene Avenue, Brooklyn, NY 11221
Contemporary two-residence townhouse with private outdoor areas, separate utilities, and flexible lower-level space.
Property Size3,300 SF
Lot Size0.04 Acres
Price / SF$484.85
Days on Market4
Property Features for 733 Greene Avenue
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$48,000
Taxes and HOA fees
Annual Taxes
$20,436
Amenities
private terraces
private backyard
central A/C and heat
in-unit washer/dryer
Building Details
Building Size
3,300 SF
Year Built
2014
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
Compass
Listed By:
Julie E Cohen
(917) 885-3365
Source:
Miradorrealestate
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 4 at 12:12PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 2014, this approximately 3,300-square-foot two-family townhouse at 733 Greene Avenue is arranged across three stories on a 20-foot-wide lot. The upper residence measures approximately 1,650 square feet with three bedrooms, 2.5 bathrooms, three private terraces, an open kitchen and living area, in-unit laundry, and a primary suite with private bath. The approximately 1,450-square-foot garden duplex includes two bedrooms, two full bathrooms, a windowed recreation room, laundry, and direct access to a private backyard.
Both residences feature central A/C and heat, stainless steel appliances, quartz countertops, center islands, white oak flooring, recessed lighting, and separate metering. The lower-level recreation room provides additional storage and flexible space for an office, guest area, studio, or sleeping area. Herbert Von King Park, restaurants, shops, markets, and daily conveniences are nearby, while the Bedford-Nostrand G train and Kosciuszko Street J train stations are approximately seven blocks away.
Both residences feature central A/C and heat, stainless steel appliances, quartz countertops, center islands, white oak flooring, recessed lighting, and separate metering. The lower-level recreation room provides additional storage and flexible space for an office, guest area, studio, or sleeping area. Herbert Von King Park, restaurants, shops, markets, and daily conveniences are nearby, while the Bedford-Nostrand G train and Kosciuszko Street J train stations are approximately seven blocks away.
Key Highlights
- Approximately 3,300 square feet of interior space across two residences
- Upper 3‑bedroom, 2.5‑bathroom duplex with three private terraces
- Lower 2‑bedroom, 2‑bathroom garden duplex with private backyard
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
$115,572
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
7.22%
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%
$2,311,440
$2.3M
Cap Rate 7%
$1,651,029
$1.7M
Cap Rate 9%
$1,284,133
$1.3M
Market Conditions
NOI Build-Up for 3,300 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
$168.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$165.1K $50.03/SF
− OpEx
−$49.5K −$15.01/SF
NOI
$115.6K $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%
$2,311,440
Cap Rate 7%
$1,651,029
Cap Rate 9%
$1,284,133
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,572 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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 - Contemporary two-residence townhouse with private outdoor areas, separate utilities, and flexible lower-level space.
Where is this duplex located?
The property is located at 733 Greene Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 3,300 square feet of interior space across two residences; Upper 3‑bedroom, 2.5‑bathroom duplex with three private terraces; Lower 2‑bedroom, 2‑bathroom garden duplex with private backyard
