Detached Two-Family
For Sale
$1,149,000
Pending
1593 E 53rd St, Brooklyn, NY 11234
Detached two-family residence with private driveway, finished basement, and separate entrance.
Property Size2,322 SF
Days on Market47
Property Features for 1593 E 53rd St
General Information
Standard status
Pending
Size
2,322 SF
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,342
Amenities
gated
private driveway
front yard
back yard
finished basement
separate entrance
Building Details
Building Size
2,322 SF
Year Built
1955
Stories
2
Listing Agency:
Citi Star Inc
Listed By:
Mohamed Mahmoud
(718) 332-6669
Source:
Elliman
Added: Jul 25
Changed: Aug 27
Last Checked: Sep 8 at 5:18AM
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 Citi Star Inc
Investment Insights
Based on property information with market context.
Detached two-family home with private driveway and gated grounds, offering two full units plus a full finished basement with a separate entrance. The top floor includes three bedrooms, one full bathroom, a large living room, a large eat-in kitchen, and a formal dining room. The first floor mirrors this layout with three bedrooms, one full bathroom, a large living room, a large eat-in kitchen, and a formal dining room. Kitchen and bathroom tile flooring is featured throughout the units, while the remainder of the home has parquet flooring with new runners; the basement has brand new carpeting.
The property is located in Flatlands, Brooklyn, minutes from Utica Avenue and close to Flatbush Avenue. Ralph Avenue is a short distance away, with bus service including B41 on Avenue N, B46 on Utica Avenue, and B47 on Ralph Avenue, along with nearby dining, places of worship, and schools.
Georgetown Shopping Center and other neighborhood services are also nearby.
The property is located in Flatlands, Brooklyn, minutes from Utica Avenue and close to Flatbush Avenue. Ralph Avenue is a short distance away, with bus service including B41 on Avenue N, B46 on Utica Avenue, and B47 on Ralph Avenue, along with nearby dining, places of worship, and schools.
Georgetown Shopping Center and other neighborhood services are also nearby.
Key Highlights
- Detached two‑family home with a private driveway and separate entrance to a full, finished basement
- 2‑family layout with 3 bedrooms on the top floor and 3 bedrooms on the first floor (3 over 3)
- Full finished basement with brand new carpeting
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
$81,320
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
7.08%
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%
$1,626,400
$1.6M
Cap Rate 7%
$1,161,714
$1.2M
Cap Rate 9%
$903,556
$903.6K
Market Conditions
NOI Build-Up for 2,322 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
$118.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$116.2K $50.03/SF
− OpEx
−$34.9K −$15.01/SF
NOI
$81.3K $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%
$1,626,400
Cap Rate 7%
$1,161,714
Cap Rate 9%
$903,556
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,320 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$1.01M
$886.1K – $1.18M
NOI $70,888 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,583 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
5,422
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
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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 - Detached two-family residence with private driveway, finished basement, and separate entrance.
Where is this duplex located?
The property is located at 1593 E 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Detached two‑family home with a private driveway and separate entrance to a full, finished basement; 2‑family layout with 3 bedrooms on the top floor and 3 bedrooms on the first floor (3 over 3); Full finished basement with brand new carpeting
