Corner Two-Family
For Sale
$1,095,000
Pending
2401 E 63rd St, Brooklyn, NY 11234
Corner two-family home with a 2-bedroom-over-2-bedroom layout and a fully finished basement.
Property Size1,924 SF
Days on Market136
Property Features for 2401 E 63rd St
General Information
Standard status
Pending
Size
1,924 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,267
Building Details
Building Size
1,924 SF
Year Built
1960
Stories
2
Tenancy
Multi
Listing Agency:
Bergen Basin Realty
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Elliman
Added: Apr 28
Changed: Sep 3
Last Checked: Sep 9 at 10:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bergen Basin Realty
Investment Insights
Based on property information with market context.
This corner two-family residence is configured as a 2-bedroom over 2-bedroom layout, with each unit featuring a functional floor plan and natural light. A fully finished basement adds additional usable space for recreation or storage.
The property offers ample parking, including a private driveway and a garage. Tenant utilities are separately metered for gas and electric.
As an owner-occupied or investment setup, the building supports rental income through two separate units with additional basement space for practical everyday use.
The property offers ample parking, including a private driveway and a garage. Tenant utilities are separately metered for gas and electric.
As an owner-occupied or investment setup, the building supports rental income through two separate units with additional basement space for practical everyday use.
Key Highlights
- 1960‑built corner 2‑family home with a 2‑bedroom over 2‑bedroom layout
- Each unit features spacious rooms and natural light with a functional layout
- Fully finished basement adds extra recreation or storage 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
$67,382
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
6.15%
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%
$1,347,640
$1.3M
Cap Rate 7%
$962,600
$962.6K
Cap Rate 9%
$748,689
$748.7K
Market Conditions
NOI Build-Up for 1,924 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
$98.1K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$96.3K $50.03/SF
− OpEx
−$28.9K −$15.01/SF
NOI
$67.4K $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%
$1,347,640
Cap Rate 7%
$962,600
Cap Rate 9%
$748,689
Alternative Uses
Best Use
Multifamily LT 5
$962.6K
$842.3K – $1.12M
NOI $67,382 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$839.1K
$734.2K – $979.0K
NOI $58,738 @ 7.0% cap · market cap 5.36%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,515 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,511
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
Check the figures for this property
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 - Corner two-family home with a 2-bedroom-over-2-bedroom layout and a fully finished basement.
Where is this duplex located?
The property is located at 2401 E 63rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 1960‑built corner 2‑family home with a 2‑bedroom over 2‑bedroom layout; Each unit features spacious rooms and natural light with a functional layout; Fully finished basement adds extra recreation or storage space
