Detached Single-Family
For Sale
$849,999
2021 E 61st Street, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size1,328 SF
Lot Size0.06 Acres
Price / SF$640.06
Days on Market97
Property Features for 2021 E 61st Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R5
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Garage - Detached
Interior features
A/C Unit, Dryer, Refrigerator, Stove, Washer, Window Treatments
Basement
Finished
Subdivision
Old Mill Basin
Standard status
Active
Size
1,328 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6505
Building Details
Year built
1920
Floors in Building
2
Flooring type
Parquet Wood
Building materials
Block
Architectural style
Other
Listing Agency:
Coldwell Banker LaBarca
(718) 258-1222
Listed By:
Michael McGuire
(718) 258-1222
Added: May 29
Changed: Aug 30
Last Checked: Sep 2 at 2:06AM
MLS# 501840
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.
Fully detached single-family residence set on a 26x108 ft lot. The home offers 3 bedrooms and 1.5 bathrooms, with a spacious first floor featuring a family room and formal dining room with hardwood floors, plus a modern kitchen that provides direct access to the backyard and custom deck with a retractable awning. A private driveway leads to a detached 2-car garage, and the property includes a fully finished basement. Upstairs includes a pull-down staircase to a stand-up attic for storage.
Located in Mill Basin, the home is described as convenient to shopping, restaurants, parks, and schools.
With a move-in ready condition and multiple indoor living and storage areas, the layout is designed for comfortable day-to-day use.
Located in Mill Basin, the home is described as convenient to shopping, restaurants, parks, and schools.
With a move-in ready condition and multiple indoor living and storage areas, the layout is designed for comfortable day-to-day use.
Key Highlights
- Detached single‑family home built in 1920 with 3 bedrooms and 1.5 bathrooms
- Set on a 26x108 ft lot with a private driveway leading to a detached 2‑car garage
- Full finished basement plus second‑floor layout with pull‑down staircase to a stand‑up attic for storage
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
$40,542
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
4.77%
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%
$810,840
$810.8K
Cap Rate 7%
$579,171
$579.2K
Cap Rate 9%
$450,467
$450.5K
Market Conditions
NOI Build-Up for 1,328 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
$75.2K $56.64/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$73.7K $55.51/SF
− OpEx
−$33.2K −$24.98/SF
NOI
$40.5K $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%
$810,840
Cap Rate 7%
$579,171
Cap Rate 9%
$450,467
Alternative Uses
Best Use
Apartment 5plus
$579.2K
$506.8K – $675.7K
NOI $40,542 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.10M
$962.1K – $1.28M
NOI $76,971 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,858
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Move-in ready detached home with 3 bedrooms, 1.5 baths, and a detached 2-car garage on a private driveway.
Where is this single family property located?
The property is located at 2021 E 61st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: Detached single‑family home built in 1920 with 3 bedrooms and 1.5 bathrooms; Set on a 26x108 ft lot with a private driveway leading to a detached 2‑car garage; Full finished basement plus second‑floor layout with pull‑down staircase to a stand‑up attic for storage
