Renovated Two-Family
For Sale
$1,080,000
1574 E 66th Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size1,636 SF
Lot Size0.05 Acres
Price / SF$660.15
Days on Market95
Property Features for 1574 E 66th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 2
Parking features
Carport
Interior features
Refrigerator, Stove
Subdivision
Mill Basin
Standard status
Active
Size
1,636 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6931
Amenities
ceiling fans
recessed lighting
digital thermostat
through-the-wall air conditioning units
private porch
backyard
Building Details
Year built
1945
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
Listed By:
Jindan Cao
(917) 708-9966
Added: Jun 8
Changed: Sep 7
Last Checked: Sep 10 at 6:06AM
MLS# 502089
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, built in 1945, contains two apartments with a combined 1,636 square feet. Each residence includes three bedrooms and one bathroom, along with a living room, kitchen, dining nook, and closet storage. Renovated elements include hardwood and tile flooring, stainless-steel refrigerators and stoves, recessed lighting, updated electrical systems, digital heating controls, and through-wall air-conditioning units. Both kitchens feature gas ranges and soft-close cabinetry, while the bathrooms provide medicine cabinets, vanities, and linen closets.
The property occupies 0.0459 acres at 1574 E 66th Street in Brooklyn, NY 11234. Outdoor features include a private porch, backyard, and carport parking. The property is zoned R3-2 and is situated near transportation, shopping, and schools.
The property occupies 0.0459 acres at 1574 E 66th Street in Brooklyn, NY 11234. Outdoor features include a private porch, backyard, and carport parking. The property is zoned R3-2 and is situated near transportation, shopping, and schools.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 bathroom
- 1,636 square feet on a 0.0459‑acre lot
- Brick construction with 1945 year built
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
$57,296
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
5.31%
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%
$1,145,920
$1.1M
Cap Rate 7%
$818,514
$818.5K
Cap Rate 9%
$636,622
$636.6K
Market Conditions
NOI Build-Up for 1,636 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
$83.4K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$81.9K $50.03/SF
− OpEx
−$24.6K −$15.01/SF
NOI
$57.3K $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%
$1,145,920
Cap Rate 7%
$818,514
Cap Rate 9%
$636,622
Alternative Uses
Best Use
Multifamily LT 5
$818.5K
$716.2K – $954.9K
NOI $57,296 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$713.5K
$624.3K – $832.4K
NOI $49,945 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$1.35M
$1.19M – $1.58M
NOI $94,823 @ 7.0% cap · market cap 8.78%
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
1,513
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 - Brick residential income property with two updated apartments and private outdoor space.
Where is this duplex located?
The property is located at 1574 E 66th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 bathroom; 1,636 square feet on a 0.0459‑acre lot; Brick construction with 1945 year built
