Brick Duplex with Finished
For Sale
$5,000,000
921 45th St, Brooklyn, NY 11219
Residential Income, Brooklyn, NY
Property Size6,000 SF
Lot Size0.06 Acres
Price / SF$833.33
Days on Market1063
Property Features for 921 45th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
10
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 10, Bedroom 5, Bedroom 7, Bedroom 8, Bathroom 1, Bathroom 5, Bathroom 3, Bedroom 9, Bathroom 4, Bathroom 2, Bedroom 1, Bathroom 6, Bedroom 2
Subdivision
Borough Park
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
15154
Utilities
Heating system
Natural Gas, Steam
Building Details
Floors in Building
4
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
REMAX REAL ESTATE PROFESSIONALS
(718) 887-5708
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Added: Oct 31, 2023
Changed: Sep 17
Last Checked: Sep 27 at 3:06AM
MLS# 11391533
Copyright © 2026 My State MLS. 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 brick residence in Brooklyn is arranged across four stories and five levels, with approximately 4,760 square feet of house area and about 6,000 square feet including the basement. The 26-by-100-foot lot supports a semi-detached home with a two-car garage, front and rear balconies, hardwood and parquet flooring, crown molding, custom cabinetry, and a finished basement with its own entrance.
The current layout includes a nine-room, five-bedroom, three-bath owner's triplex, a six-room, three-bedroom rental unit, and a six-room basement. Interior features include a granite eat-in kitchen with stainless steel appliances, an en suite Jacuzzi bathroom, formal living and dining rooms, spacious closets, and a combination of tile and hardwood flooring. The property is located at 921 45th St in Brooklyn's 11219 ZIP code and is zoned R6.
The current layout includes a nine-room, five-bedroom, three-bath owner's triplex, a six-room, three-bedroom rental unit, and a six-room basement. Interior features include a granite eat-in kitchen with stainless steel appliances, an en suite Jacuzzi bathroom, formal living and dining rooms, spacious closets, and a combination of tile and hardwood flooring. The property is located at 921 45th St in Brooklyn's 11219 ZIP code and is zoned R6.
Key Highlights
- Legal two‑family brick residence on a 26‑by‑100‑foot lot
- Approximately 4,760 sqft of house area and 6,000 sqft including the basement
- Current layout: 9‑room, 5‑bedroom, 3‑bath owner's triplex
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
$173,275
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
3.47%
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%
$3,465,500
$3.5M
Cap Rate 7%
$2,475,357
$2.5M
Cap Rate 9%
$1,925,278
$1.9M
Market Conditions
NOI Build-Up for 6,000 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
$259.2K $43.20/SF
− Vacancy
−$11.7K −$1.94/SF
EGI
$247.5K $41.26/SF
− OpEx
−$74.3K −$12.38/SF
NOI
$173.3K $28.88/SF
Area
ZIP 11219
Vacancy
4.50%
Lease Rate
$43.20 /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%
$3,465,500
Cap Rate 7%
$2,475,357
Cap Rate 9%
$1,925,278
Alternative Uses
Best Use
Multifamily LT 5
$2.48M
$2.17M – $2.89M
NOI $173,275 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$2.22M
$1.94M – $2.59M
NOI $155,541 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$3.89M
$3.40M – $4.54M
NOI $272,275 @ 7.0% cap · market cap 5.45%
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
6,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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 - Four-story legal two-family residence with parking garage, separate-entry basement, balconies, and custom interior finishes.
Where is this duplex located?
The property is located at 921 45th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Legal two‑family brick residence on a 26‑by‑100‑foot lot; Approximately 4,760 sqft of house area and 6,000 sqft including the basement; Current layout: 9‑room, 5‑bedroom, 3‑bath owner's triplex
