Duplex with Fenced Backyard
For Sale
$599,999
1511 E 55th Street, Brooklyn, NY 11234
SINGLE_FAMILY - Brooklyn, NY
Property Size1,288 SF
Lot Size0.04 Acres
Price / SF$465.84
Days on Market41
Property Features for 1511 E 55th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3
Patio and Porch features
Deck
Interior features
A/C Unit - Wall, Deck, Dishwasher, Dryer, Laundry Area, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Old Mill Basin
Standard status
Active
Size
1,288 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5528
Building Details
Year built
1925
Floors in Building
2
Flooring type
Carpet, Hardwood
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Yu-Fen (Madeline) Chiu
(718) 612-3088
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 26 at 8:06AM
MLS# 503102
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.
1511 E 55th Street in Brooklyn, NY 11234 is a small duplex property on a 0.0413-acre lot, built in 1925 and totaling 1,288 SF. The home features a flat roof and interior finishes including hardwood and carpet flooring.
Inside, the layout includes a formal living room, formal dining room, a spacious kitchen with abundant cabinetry, and an upper level with three bedrooms and a full bathroom. A finished basement provides flexible additional space for a family room, home office, fitness area, or other uses. Additional interior features include a wall A/C unit, dishwasher, refrigerator, stove, washer, dryer, and a dedicated laundry area, along with a deck and a private, fenced backyard for outdoor enjoyment.
Zoned R3-2, the home is described as located on a quiet, tree-lined street in the Old Mill Basin neighborhood, near schools, shopping, restaurants, and public transportation.
Inside, the layout includes a formal living room, formal dining room, a spacious kitchen with abundant cabinetry, and an upper level with three bedrooms and a full bathroom. A finished basement provides flexible additional space for a family room, home office, fitness area, or other uses. Additional interior features include a wall A/C unit, dishwasher, refrigerator, stove, washer, dryer, and a dedicated laundry area, along with a deck and a private, fenced backyard for outdoor enjoyment.
Zoned R3-2, the home is described as located on a quiet, tree-lined street in the Old Mill Basin neighborhood, near schools, shopping, restaurants, and public transportation.
Key Highlights
- 0.0413‑acre lot size
- 1,288 SF total building size
- Built in 1925 with a flat roof
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
$45,108
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
7.52%
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%
$902,160
$902.2K
Cap Rate 7%
$644,400
$644.4K
Cap Rate 9%
$501,200
$501.2K
Market Conditions
NOI Build-Up for 1,288 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
$65.7K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$64.4K $50.03/SF
− OpEx
−$19.3K −$15.01/SF
NOI
$45.1K $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%
$902,160
Cap Rate 7%
$644,400
Cap Rate 9%
$501,200
Alternative Uses
Best Use
Multifamily LT 5
$644.4K
$563.9K – $751.8K
NOI $45,108 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$561.7K
$491.5K – $655.4K
NOI $39,321 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$1.07M
$933.2K – $1.24M
NOI $74,652 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,319
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 - R3-2 zoned duplex with a finished basement, deck, and wall A/C units.
Where is this duplex located?
The property is located at 1511 E 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 0.0413‑acre lot size; 1,288 SF total building size; Built in 1925 with a flat roof
