Two-Family Brick Home with Outdoor
For Sale
$1,498,000
Pending
260 61st St, Brooklyn, NY 11220
Well-maintained two-family brick residence with hardwood floors, ample bedrooms, and private outdoor space.
Property Size2,080 SF
Days on Market108
Property Features for 260 61st St
General Information
Standard status
Pending
Size
2,080 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,474
Building Details
Building Size
2,080 SF
Year Built
1899
Listing Agency:
Ben Bay Realty Co
(718) 680-6442
Listed By:
Christine P. Olivieri
(718) 680-6442
Source:
Elliman
Added: May 9
Changed: Aug 11
Last Checked: Aug 23 at 10:30AM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
This charming two-family brick home offers a spacious 20 x 52 layout with generous bedrooms, hardwood floors, and bright interior spaces throughout. Each unit includes comfortable living areas, while the kitchen features ample cabinet space with an adjacent dining room. A private outdoor space provides additional room for relaxing or hosting.
Conveniently located in Brooklyn, the property is close to shopping, restaurants, schools, and local amenities. It is just minutes from the 59th Street N/R subway station, with multiple nearby bus lines including B9, B11, B37, B63, and B70. Nearby destinations include Industry City, the Brooklyn Army Terminal, and the NYC Ferry, and drivers have access to the Belt Parkway and Gowanus Expressway (I-278).
Conveniently located in Brooklyn, the property is close to shopping, restaurants, schools, and local amenities. It is just minutes from the 59th Street N/R subway station, with multiple nearby bus lines including B9, B11, B37, B63, and B70. Nearby destinations include Industry City, the Brooklyn Army Terminal, and the NYC Ferry, and drivers have access to the Belt Parkway and Gowanus Expressway (I-278).
Key Highlights
- Two‑family brick home built in 1899 at 260 61st Street, Brooklyn
- Two‑family layout offers spacious living areas and generous bedrooms
- Hardwood floors and abundant natural light throughout
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
$61,931
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
4.13%
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%
$1,238,620
$1.2M
Cap Rate 7%
$884,729
$884.7K
Cap Rate 9%
$688,122
$688.1K
Market Conditions
NOI Build-Up for 2,080 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
$92.4K $44.40/SF
− Vacancy
−$3.9K −$1.86/SF
EGI
$88.5K $42.54/SF
− OpEx
−$26.5K −$12.76/SF
NOI
$61.9K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,238,620
Cap Rate 7%
$884,729
Cap Rate 9%
$688,122
Alternative Uses
Best Use
Multifamily LT 5
$884.7K
$774.1K – $1.03M
NOI $61,931 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$792.4K
$693.3K – $924.5K
NOI $55,467 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,389 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,818
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Well-maintained two-family brick residence with hardwood floors, ample bedrooms, and private outdoor space.
Where is this duplex located?
The property is located at 260 61st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Two‑family brick home built in 1899 at 260 61st Street, Brooklyn; Two‑family layout offers spacious living areas and generous bedrooms; Hardwood floors and abundant natural light throughout
