Detached 2-Family
New
For Sale
$739,000
1648 E 53rd St, Brooklyn, NY 11234
The upper apartment has one bedroom, while the ground-floor unit offers two bedrooms.
Property Size1,411 SF
Days on Market2
Property Features for 1648 E 53rd St
General Information
Standard status
Active
Size
1,411 SF
Total Parking Spaces
1
Property subtype
Multi Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,898
Amenities
large rear yard
Building Details
Building Size
1,411 SF
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Tracey Real Estate
Listed By:
Paul Link · License #LINUL8404
(718) 376-4994
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 3:51PM
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 Tracey Real Estate
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Investment Insights
Based on property information with market context.
Built in 1920, this detached two-family property includes two separate apartments and will be delivered vacant. The upper unit has one bedroom, a living room, an eat-in kitchen, and a full bathroom. The ground-floor apartment contains two bedrooms, a living room, an eat-in kitchen, and a full bathroom.
An unfinished basement has a separate entrance. The property also includes a rear yard, a one-car garage, a shared driveway, and a new boiler.
An unfinished basement has a separate entrance. The property also includes a rear yard, a one-car garage, a shared driveway, and a new boiler.
Key Highlights
- Two apartments: one‑bedroom upper unit and two‑bedroom ground‑floor unit
- Delivered vacant
- Unfinished basement with a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,416
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$988,320
$988.3K
Cap Rate 7%
$705,943
$705.9K
Cap Rate 9%
$549,067
$549.1K
Market Conditions
NOI Build-Up for 1,411 SF
Gross rent
$72.0K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.6K $50.03/SF
− OpEx
−$21.2K −$15.01/SF
NOI
$49.4K $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 Rate 5%
$988,320
Cap Rate 7%
$705,943
Cap Rate 9%
$549,067
Alternative Uses
Best Use
Multifamily LT 5
$705.9K
$617.7K – $823.6K
NOI $49,416 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$615.4K
$538.5K – $717.9K
NOI $43,076 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,782 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,422
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The upper apartment has one bedroom, while the ground-floor unit offers two bedrooms.
Where is this duplex located?
The property is located at 1648 E 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Two apartments: one‑bedroom upper unit and two‑bedroom ground‑floor unit; Delivered vacant; Unfinished basement with a separate entrance
