Brick Two-Family
For Sale
$840,000
365 E 59th Street, Brooklyn, NY 11203
Residential, Brooklyn, NY
Property Size1,785 SF
Lot Size0.05 Acres
Price / SF$470.59
Days on Market84
Property Features for 365 E 59th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
Basement
Full, Finished
Subdivision
East Flatbush
Standard status
Active
Size
1,785 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6675
Building Details
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Listing Agency:
Remax Top Nest Real Estate
Listed By:
Yan Byshevsky
(646) 828-6378
Added: Jun 22
Changed: Sep 12
Last Checked: Sep 13 at 2:06AM
MLS# 502454
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, constructed in 1945, contains approximately 1,785 square feet of living space on a 0.0528-acre lot. The upper residence has two bedrooms, a full bathroom, wood and carpeted flooring, and a spacious living area. A separate lower residence provides one bedroom, a kitchen, a living area, and a three-quarter bathroom. The building footprint measures 17 feet by 35 feet, and the property will be delivered vacant at closing.
The corner property includes a private driveway and additional rear parking with access from Clarendon Road. Shops, markets, and daily conveniences are located along Ralph Avenue. Transit service includes the B47 bus on Clarendon Road and nearby B8 service on Beverly Road.
The corner property includes a private driveway and additional rear parking with access from Clarendon Road. Shops, markets, and daily conveniences are located along Ralph Avenue. Transit service includes the B47 bus on Clarendon Road and nearby B8 service on Beverly Road.
Key Highlights
- Two‑family duplex with approximately 1,785 square feet of living space
- Built in 1945 with brick construction
- Upper unit includes 2 bedrooms and a full bathroom
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
$62,514
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
7.44%
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%
$1,250,280
$1.3M
Cap Rate 7%
$893,057
$893.1K
Cap Rate 9%
$694,600
$694.6K
Market Conditions
NOI Build-Up for 1,785 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
$91.0K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$89.3K $50.03/SF
− OpEx
−$26.8K −$15.01/SF
NOI
$62.5K $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%
$1,250,280
Cap Rate 7%
$893,057
Cap Rate 9%
$694,600
Alternative Uses
Best Use
Multifamily LT 5
$893.1K
$781.4K – $1.04M
NOI $62,514 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$778.5K
$681.2K – $908.2K
NOI $54,494 @ 7.0% cap · market cap 6.49%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,459 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,762
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 - Vacant delivery includes separate living arrangements, a private driveway, and rear parking accessed from Clarendon Road.
Where is this duplex located?
The property is located at 365 E 59th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Two‑family duplex with approximately 1,785 square feet of living space; Built in 1945 with brick construction; Upper unit includes 2 bedrooms and a full bathroom
