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 Market334
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: Oct 26
Last Checked: Oct 28 at 9:54AM
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
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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 / Yr
$67,693
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
