Brick Duplex with Finished
For Sale
$1,300,000
1278 E 53rd Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size3,100 SF
Lot Size0.05 Acres
Price / SF$419.35
Days on Market114
Property Features for 1278 E 53rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 2
Parking features
Garage
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Old Mill Basin
Standard status
Active
Size
3,100 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9029
Building Details
Year built
1950
Floors in Building
3
Number of units
2
Building materials
Brick
Roof type
Flat
Listing Agency:
Exit All Seasons Realty
Listed By:
Hilaire Derosena
(718) 345-4545
Added: May 18
Changed: Sep 5
Last Checked: Sep 8 at 8:06AM
MLS# 501590
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 brick duplex was built in 1950 and contains 3100 square feet across three levels, plus a full finished basement. The upper apartment has three bedrooms, while the second-floor residence provides two bedrooms. The lower level adds finished space and includes a one-car garage. Interior features include a refrigerator and stove, and the building has a flat roof.
Located at 1278 E 53rd Street in Brooklyn’s Flatlands section, the property carries R4 zoning and sits on a 0.048-acre lot. Marine Park is nearby, offering playgrounds, bicycle paths, a golf course, and facilities for canoe and kayak outings.
Located at 1278 E 53rd Street in Brooklyn’s Flatlands section, the property carries R4 zoning and sits on a 0.048-acre lot. Marine Park is nearby, offering playgrounds, bicycle paths, a golf course, and facilities for canoe and kayak outings.
Key Highlights
- Two‑unit duplex with a three‑bedroom upper apartment and two‑bedroom second‑floor apartment
- 3100 square feet on a 0.048‑acre lot
- Full finished basement with additional lower‑level space
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
$108,567
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
8.35%
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%
$2,171,340
$2.2M
Cap Rate 7%
$1,550,957
$1.6M
Cap Rate 9%
$1,206,300
$1.2M
Market Conditions
NOI Build-Up for 3,100 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
$158.1K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$155.1K $50.03/SF
− OpEx
−$46.5K −$15.01/SF
NOI
$108.6K $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%
$2,171,340
Cap Rate 7%
$1,550,957
Cap Rate 9%
$1,206,300
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,567 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,640 @ 7.0% cap · market cap 7.28%
Theoretical Best
Specialty Retail
$2.57M
$2.25M – $2.99M
NOI $179,676 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,255
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-level configuration includes two apartments, additional lower-level space, and an attached one-car garage.
Where is this duplex located?
The property is located at 1278 E 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two‑unit duplex with a three‑bedroom upper apartment and two‑bedroom second‑floor apartment; 3100 square feet on a 0.048‑acre lot; Full finished basement with additional lower‑level space
