Two-Unit Duplex with
New
For Sale
$850,000
949 E 45th St, Brooklyn, NY 11203
One- and two-bedroom residences are complemented by a separate-entry basement and outdoor space at the front and rear.
Property Size1,952 SF
Days on Market2
Property Features for 949 E 45th St
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,870
Building Details
Building Size
1,952 SF
Year Built
1960
Stories
2
Listing Agency:
Fine Choice Realty Inc
Listed By:
Barrington Richards
(718) 363-2200
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:20PM
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 Fine Choice Realty Inc
Investment Insights
Based on property information with market context.
Built in 1960, this semi-detached duplex contains two residences: a one-bedroom unit on the first floor and a two-bedroom unit above. The property also has a full basement with high ceilings, laundry hookups, and its own entrance. An integrated one-car garage and driveway provide on-site vehicle space, while front and rear yards add outdoor areas.
The property is at 949 E 45th St in Brooklyn’s East Flatbush neighborhood. Its Walk Score is 81, its Transit Score is 85, and its Bike Score is 61.
The separate living areas and basement access provide a distinct layout within the two-family property. Both units receive natural light, and the wider-than-typical footprint accommodates roomier living areas and kitchens.
The property is at 949 E 45th St in Brooklyn’s East Flatbush neighborhood. Its Walk Score is 81, its Transit Score is 85, and its Bike Score is 61.
The separate living areas and basement access provide a distinct layout within the two-family property. Both units receive natural light, and the wider-than-typical footprint accommodates roomier living areas and kitchens.
Key Highlights
- Two‑family duplex with a one‑bedroom first‑floor unit and a two‑bedroom unit above
- Full basement with high ceilings, laundry hookups, and a separate entrance
- Integrated one‑car garage and driveway
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
$68,362
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
8.04%
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%
$1,367,240
$1.4M
Cap Rate 7%
$976,600
$976.6K
Cap Rate 9%
$759,578
$759.6K
Market Conditions
NOI Build-Up for 1,952 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
$99.6K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$97.7K $50.03/SF
− OpEx
−$29.3K −$15.01/SF
NOI
$68.4K $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%
$1,367,240
Cap Rate 7%
$976,600
Cap Rate 9%
$759,578
Alternative Uses
Best Use
Multifamily LT 5
$976.6K
$854.5K – $1.14M
NOI $68,362 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$851.3K
$744.9K – $993.2K
NOI $59,593 @ 7.0% cap · market cap 7.01%
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.89M
NOI $113,138 @ 7.0% cap · market cap 13.31%
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
6,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - One- and two-bedroom residences are complemented by a separate-entry basement and outdoor space at the front and rear.
Where is this duplex located?
The property is located at 949 E 45th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑family duplex with a one‑bedroom first‑floor unit and a two‑bedroom unit above; Full basement with high ceilings, laundry hookups, and a separate entrance; Integrated one‑car garage and driveway
