Semi-Attached 3-Bedroom
For Sale
$649,000
660 37th Street, Brooklyn, NY 11203
Residential property with a finished basement, detached garage, fenced yards, and formal living and dining areas.
Property Size1,144 SF
Price / SF$567.31
Days on Market544
Property Features for 660 37th Street
General Information
Standard status
Active
Size
1,144 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,299
Amenities
finished basement with separate entrance
detached garage
fully fenced front and back yards
Building Details
Year Built
1925
Listing Agency:
Century 21 Achievers
Listed By:
Andre Hanniford · License #HANDE791
(718) 758-0600
Source:
Exitrealty
Added: Mar 14, 2025
Changed: Sep 2
Last Checked: Sep 8 at 6:01AM
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 Century 21 Achievers
Investment Insights
Based on property information with market context.
This 3-bedroom duplex provides 1,144 square feet of residential space in a semi-attached configuration. Interior features include formal living and dining rooms, extensive closet storage, and numerous windows that bring natural light throughout the home. A finished basement with its own entrance adds usable lower-level space.
The property also includes a detached garage, an extra-wide shared driveway, and fully fenced front and rear yards. Built in 1925, the residence is located at 660 37th Street in Brooklyn’s East Flatbush neighborhood.
The property also includes a detached garage, an extra-wide shared driveway, and fully fenced front and rear yards. Built in 1925, the residence is located at 660 37th Street in Brooklyn’s East Flatbush neighborhood.
Key Highlights
- 3‑bedroom semi‑attached duplex with 1,144 square feet
- Finished basement with separate entrance
- Detached garage and extra‑wide shared driveway
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
$40,065
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
6.17%
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%
$801,300
$801.3K
Cap Rate 7%
$572,357
$572.4K
Cap Rate 9%
$445,167
$445.2K
Market Conditions
NOI Build-Up for 1,144 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
$58.3K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$57.2K $50.03/SF
− OpEx
−$17.2K −$15.01/SF
NOI
$40.1K $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%
$801,300
Cap Rate 7%
$572,357
Cap Rate 9%
$445,167
Alternative Uses
Best Use
Multifamily LT 5
$572.4K
$500.8K – $667.8K
NOI $40,065 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$498.9K
$436.6K – $582.1K
NOI $34,925 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$947.2K
$828.8K – $1.11M
NOI $66,306 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,047
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
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 - Residential property with a finished basement, detached garage, fenced yards, and formal living and dining areas.
Where is this duplex located?
The property is located at 660 37th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 3‑bedroom semi‑attached duplex with 1,144 square feet; Finished basement with separate entrance; Detached garage and extra‑wide shared driveway
