Two-Family Duplex with Finished
For Sale
$999,000
1140 E 53rd Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size1,996 SF
Lot Size0.06 Acres
Price / SF$500.50
Days on Market158
Property Features for 1140 E 53rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bathrooms
4
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 2
Patio and Porch features
Deck, Porch
Interior features
Deck, Dishwasher, Dryer, Garage Door Opener(s), Laundry Area, Microwave, Porch, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
East Flatbush
Standard status
Active
Size
1,996 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8239
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Tunde (Angel) Malka
(718) 763-4110
Added: Mar 9
Changed: Aug 3
Last Checked: Aug 13 at 9:06AM
MLS# 499323
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 two-family semi-detached duplex at 1140 E 53rd Street offers an upper 3-bedroom apartment over a 2-bedroom apartment, plus a fully finished basement. Built in 1945 with brick construction, the home includes interior features such as a deck, porch, laundry area, and appliances including dishwasher, microwave, refrigerator, stove, washer, and dryer. Flooring includes hardwood, tile, and carpet, and there is a garage door opener.
The property sits on a 0.0631-acre lot and includes a private driveway. Patio and porch features include both a porch and a deck, supporting everyday indoor-outdoor living.
Zoned R4, this layout is designed to provide separate living space within a two-apartment configuration while maintaining a single, cohesive property footprint.
The property sits on a 0.0631-acre lot and includes a private driveway. Patio and porch features include both a porch and a deck, supporting everyday indoor-outdoor living.
Zoned R4, this layout is designed to provide separate living space within a two-apartment configuration while maintaining a single, cohesive property footprint.
Key Highlights
- R4 zoned two‑family semi‑detached duplex on a 0.0631‑acre lot
- Upper 3‑bedroom apartment over a 2‑bedroom apartment
- Fully finished basement
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
$69,903
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
7.00%
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%
$1,398,060
$1.4M
Cap Rate 7%
$998,614
$998.6K
Cap Rate 9%
$776,700
$776.7K
Market Conditions
NOI Build-Up for 1,996 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
$101.8K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$99.9K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$69.9K $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%
$1,398,060
Cap Rate 7%
$998,614
Cap Rate 9%
$776,700
Alternative Uses
Best Use
Multifamily LT 5
$998.6K
$873.8K – $1.17M
NOI $69,903 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$870.5K
$761.7K – $1.02M
NOI $60,936 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$1.65M
$1.45M – $1.93M
NOI $115,688 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
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 - R4 zoned two-family semi-detached home with 3-bedroom upper unit over a 2-bedroom unit and a fully finished basement.
Where is this duplex located?
The property is located at 1140 E 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: R4 zoned two‑family semi‑detached duplex on a 0.0631‑acre lot; Upper 3‑bedroom apartment over a 2‑bedroom apartment; Fully finished basement
