Split-Level Corner Home with Detached
For Sale
$780,000
137-60 233rd Street, Rosedale, NY 11422
SINGLE_FAMILY - Rosedale, NY
Property Size1,428 SF
Lot Size0.07 Acres
Price / SF$546.22
Days on Market54
Property Features for 137-60 233rd Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3A
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Garage - Detached
Interior features
A/C Unit, Dryer, Laundry Area, Refrigerator, Stove, Washer
Basement
Full
Subdivision
Rosedale
Standard status
Active
Size
1,428 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6432
Building Details
Year built
1920
Floors in Building
2
Flooring type
Parquet Wood, Carpet, Tile, Ceramic
Building materials
Masonry
Architectural style
Other
Listing Agency:
Brooklyn Real Property Inc
(718) 629-1888
Listed By:
Michelle D. Brown
(718) 629-1888
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 9 at 1:06PM
MLS# 502392
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 split-level corner home offers flexible interior space with a large living room and a formal dining room on the first level. The main floor also includes an eat-in kitchen and a half bathroom with updates. Upstairs are three bedrooms, including a primary bedroom with a bonus room behind French doors that can serve as a nursery or additional storage, plus a full bathroom with lots of storage and updates.
The basement includes its own separate entrance and features a dedicated laundry room for added convenience. Interior features include an A/C unit, washer, dryer, refrigerator, and stove. Flooring includes ceramic, parquet wood, tile, and carpet. Constructed with masonry materials, the home was built in 1920.
Outside, the property includes a private driveway and a detached private garage. The listing is being sold AS-IS. Lot size is 0.0739 acres and the property size is 1,428 square feet.
The basement includes its own separate entrance and features a dedicated laundry room for added convenience. Interior features include an A/C unit, washer, dryer, refrigerator, and stove. Flooring includes ceramic, parquet wood, tile, and carpet. Constructed with masonry materials, the home was built in 1920.
Outside, the property includes a private driveway and a detached private garage. The listing is being sold AS-IS. Lot size is 0.0739 acres and the property size is 1,428 square feet.
Key Highlights
- 0.0739‑acre corner lot
- 1,428 SF split‑level home
- Three bedrooms plus bonus room behind French doors
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
$34,907
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
4.48%
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%
$698,140
$698.1K
Cap Rate 7%
$498,671
$498.7K
Cap Rate 9%
$387,856
$387.9K
Market Conditions
NOI Build-Up for 1,428 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
$66.0K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$63.5K $44.44/SF
− OpEx
−$28.6K −$20.00/SF
NOI
$34.9K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$698,140
Cap Rate 7%
$498,671
Cap Rate 9%
$387,856
Alternative Uses
Best Use
Apartment 5plus
$498.7K
$436.3K – $581.8K
NOI $34,907 @ 7.0% cap · market cap 4.48%
Second Best
Multifamily LT 5
$337.7K
$295.5K – $393.9K
NOI $23,636 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.05M
$921.2K – $1.23M
NOI $73,692 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
Explore this area
Business Placement
Demographics for 11422, NY
32,839
Population
10,694
Households
3.1
Avg Household Size
41
Median Age
33%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
15,638
Density / Sq Mi
$108,519
Median Household Income
$51,788
Median Earnings
$2,327
Median Rent
$629,100
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 - Corner split-level home in R3A zoning with a detached private garage and separate private driveway.
Where is this duplex located?
The property is located at 137-60 233rd Street Rosedale, NY.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 0.0739‑acre corner lot; 1,428 SF split‑level home; Three bedrooms plus bonus room behind French doors
