Duplex with Private Driveway and
For Sale
$939,000
2044 E 60th Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size1,540 SF
Lot Size0.05 Acres
Price / SF$609.74
Days on Market271
Property Features for 2044 E 60th Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R5
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 3
Parking features
Garage - Attached
Interior features
Refrigerator, Stove
Subdivision
Old Mill Basin
Standard status
Active
Size
1,540 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7316
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Architectural style
Ranch
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Jason Sciulara
(718) 763-4110
Added: Nov 12, 2025
Changed: Aug 3
Last Checked: Aug 10 at 3:06PM
MLS# 497302
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 offers a clear two-family layout with interior finishes including hardwood flooring. The home was gut renovated top to bottom about less than 20 years ago. The top floor features two bedrooms and one bath, and there is a walk-in two-bedroom duplex configuration that includes a dug-out basement with granite floors. Interior conveniences include a refrigerator and stove.
The property sits on a 0.0459-acre lot and is part of a Ranch-style building constructed in 1950. Parking is provided via a private driveway and an attached one-car garage.
Zoned R5, the residence is set up for dual-occupancy, with separate living space elements reflected in the top-floor and walk-in duplex configuration.
The property sits on a 0.0459-acre lot and is part of a Ranch-style building constructed in 1950. Parking is provided via a private driveway and an attached one-car garage.
Zoned R5, the residence is set up for dual-occupancy, with separate living space elements reflected in the top-floor and walk-in duplex configuration.
Key Highlights
- Two‑family duplex with hardwood floors and granite‑floored dug‑out basement
- Brick Ranch‑style home built in 1950
- Top floor has two bedrooms and one bath
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
$53,933
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
5.74%
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%
$1,078,660
$1.1M
Cap Rate 7%
$770,471
$770.5K
Cap Rate 9%
$599,256
$599.3K
Market Conditions
NOI Build-Up for 1,540 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
$78.5K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$77.0K $50.03/SF
− OpEx
−$23.1K −$15.01/SF
NOI
$53.9K $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%
$1,078,660
Cap Rate 7%
$770,471
Cap Rate 9%
$599,256
Alternative Uses
Best Use
Multifamily LT 5
$770.5K
$674.2K – $898.9K
NOI $53,933 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$671.6K
$587.7K – $783.6K
NOI $47,015 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,258 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - R5 zoned brick duplex with hardwood floors, attached one-car garage, and private driveway.
Where is this duplex located?
The property is located at 2044 E 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: Two‑family duplex with hardwood floors and granite‑floored dug‑out basement; Brick Ranch‑style home built in 1950; Top floor has two bedrooms and one bath
