Brick Two-Family
For Sale
$600,800
1796 E 53rd St, Brooklyn, NY 11234
Occupied Brooklyn property offered in its current condition near schools, shopping, and transportation.
Property Size1,627 SF
Days on Market8
Property Features for 1796 E 53rd St
General Information
Standard status
Active
Size
1,627 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,987
Building Details
Building Size
1,627 SF
Construction
brick
Listing Agency:
Peerless Properties Corp.
Listed By:
Richard Dinerman · License #35DIO767533
(718) 368-3305
Source:
Elliman
Added: Sep 18
Last Checked: Sep 24 at 12:01PM
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 Peerless Properties Corp.
Investment Insights
Based on property information with market context.
This brick duplex is configured as a two-family home in Brooklyn and is currently occupied. The property will be conveyed in its existing condition, without vacancy delivery or seller-performed repairs. Utilities that are presently off will remain off, and the occupancy requires a cash, rehab, or hard-money purchase structure.
The home is situated in the Old Mill Basin area, near schools, shopping, and transportation. WalkScore is 84, TransitScore is 80, and bikeScore is 68. Any applicable ECB or HPD violations remain with the property, and the buyer assumes the stated transfer taxes and fees.
The home is situated in the Old Mill Basin area, near schools, shopping, and transportation. WalkScore is 84, TransitScore is 80, and bikeScore is 68. Any applicable ECB or HPD violations remain with the property, and the buyer assumes the stated transfer taxes and fees.
Key Highlights
- Brick two‑family duplex in Brooklyn
- Currently occupied and not delivered vacant
- Sale is in current condition with no seller repairs
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
$49,671
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
8.27%
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%
$993,420
$993.4K
Cap Rate 7%
$709,586
$709.6K
Cap Rate 9%
$551,900
$551.9K
Market Conditions
NOI Build-Up for 1,627 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
$92.2K $56.64/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$90.3K $55.51/SF
− OpEx
−$40.6K −$24.98/SF
NOI
$49.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$993,420
Cap Rate 7%
$709,586
Cap Rate 9%
$551,900
Alternative Uses
Best Use
Multifamily LT 5
$814.0K
$712.3K – $949.7K
NOI $56,980 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$709.6K
$620.9K – $827.9K
NOI $49,671 @ 7.0% cap · market cap 8.27%
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.57M
NOI $94,301 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,169
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 - Occupied Brooklyn property offered in its current condition near schools, shopping, and transportation.
Where is this duplex located?
The property is located at 1796 E 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $600,800.
What are key features of this property?
This property features: Brick two‑family duplex in Brooklyn; Currently occupied and not delivered vacant; Sale is in current condition with no seller repairs
