Borough Park Two-Family Brick
For Sale
$2,299,000
Pending
944 56th St, Brooklyn, NY 11219
Move-in ready two-family home with expansion potential in Borough Park.
Property Size2,344 SF
Lot Size0.05 Acres
Days on Market285
Property Features for 944 56th St
General Information
Standard status
Pending
Size
2,344 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,104
Building Details
Building Size
2,344 SF
Year Built
1925
Stories
2
Listed By:
Sen Ye
(718) 382-0001
Source:
Elliman
Added: Nov 28, 2025
Changed: Sep 8
Last Checked: Sep 8 at 5:37AM
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 Sen Ye
Investment Insights
Based on property information with market context.
Located in the heart of Borough Park, 944 56th Street is a move-in ready, two-family brick home. The property is situated on an R6-zoned lot, presenting potential for future expansion or development. The interiors are bright and spacious, with a layout suitable for both end-users and investors. The property features a large private backyard, a double garage with a private driveway, and a fully finished basement that provides additional space. The finished basement includes a separate entrance. The location provides access to schools, shopping, parks, and public transportation.
Key Highlights
- Move‑in ready two‑family brick home in Borough Park
- Large private backyard
- Private driveway and double garage
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
$67,693
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
2.94%
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%
$1,353,860
$1.4M
Cap Rate 7%
$967,043
$967.0K
Cap Rate 9%
$752,144
$752.1K
Market Conditions
NOI Build-Up for 2,344 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
$101.3K $43.20/SF
− Vacancy
−$4.6K −$1.94/SF
EGI
$96.7K $41.26/SF
− OpEx
−$29.0K −$12.38/SF
NOI
$67.7K $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%
$1,353,860
Cap Rate 7%
$967,043
Cap Rate 9%
$752,144
Alternative Uses
Best Use
Multifamily LT 5
$967.0K
$846.2K – $1.13M
NOI $67,693 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$868.1K
$759.6K – $1.01M
NOI $60,765 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,369 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,819
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Move-in ready two-family home with expansion potential in Borough Park.
Where is this duplex located?
The property is located at 944 56th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: Move‑in ready two‑family brick home in Borough Park; Large private backyard; Private driveway and double garage
