Two-Unit Brick
New
For Sale
$850,000
949 E 45th Street, Brooklyn, NY 11203
Residential, High Ranch, Brooklyn, NY
Property Size1,952 SF
Lot Size0.05 Acres
Price / SF$435.45
Days on Market1
Property Features for 949 E 45th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Garage
Basement
Finished, Full
Subdivision
East Flatbush
Standard status
Active
Size
1,952 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6870
Amenities
laundry hookups
front yard
backyard
Building Details
Year built
1960
Floors in Building
2
Number of units
1
Flooring type
Carpet, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Ranch
Listing Agency:
Fine Choice Realty Inc
Listed By:
Barrington Richards
(718) 363-2200
Added: Sep 24
Last Checked: Sep 24 at 5:06PM
MLS# 504844
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 1,952-square-foot, brick duplex at 949 E 45th Street in Brooklyn contains two homes: a one-bedroom residence on the first floor and a two-bedroom residence above. The 1960-built property has hardwood and carpet flooring, plus a full basement with high ceilings, laundry hookups, and a separate entrance. A one-car garage and driveway provide on-site vehicle storage. The lot measures 0.049 acres.
Located in East Flatbush, the property is zoned R4. Its two-level residential arrangement, basement access, and garage are among its defining physical features.
Located in East Flatbush, the property is zoned R4. Its two-level residential arrangement, basement access, and garage are among its defining physical features.
Key Highlights
- Two residential units: one‑bedroom first‑floor home and two‑bedroom second‑floor home
- 1,952 square feet on a 0.049‑acre lot
- Full basement with high ceilings, laundry hookups, and a separate entrance
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
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,068
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 - Separate one- and two-bedroom homes occupy the upper floors, with a full basement, garage, and driveway adding functional space.
Where is this duplex located?
The property is located at 949 E 45th Street 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 residential units: one‑bedroom first‑floor home and two‑bedroom second‑floor home; 1,952 square feet on a 0.049‑acre lot; Full basement with high ceilings, laundry hookups, and a separate entrance
