Duplex With Rear
For Sale
$1,199,000
2048 E 54th Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size2,250 SF
Lot Size0.06 Acres
Price / SF$532.89
Days on Market37
Property Features for 2048 E 54th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 3
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Old Mill Basin
Standard status
Active
Size
2,250 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9231
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Siu Wai (Cherie)Wong
(917) 708-9966
Added: Jul 27
Changed: Aug 7
Last Checked: Sep 1 at 4:06AM
MLS# 503322
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 two-family duplex includes a finished basement, a shared driveway, and rear parking. The second-floor unit is described as a duplex with three bedrooms and 1.5 bathrooms. The first-floor unit offers two bedrooms and one bathroom. Interior features listed include a refrigerator and stove, with tile and hardwood flooring throughout and brick construction. The roof is flat, and the property was built in 1960.
The home is located in the Old Mill Basin / Bergen Beach area of Brooklyn, NY, in Kings County, ZIP 11234. Zoning is listed as R5.
With two separate residential units and the added flexibility of rear parking, this duplex configuration can suit owner-occupants or tenants who want dedicated space within a two-family layout.
The home is located in the Old Mill Basin / Bergen Beach area of Brooklyn, NY, in Kings County, ZIP 11234. Zoning is listed as R5.
With two separate residential units and the added flexibility of rear parking, this duplex configuration can suit owner-occupants or tenants who want dedicated space within a two-family layout.
Key Highlights
- R5 zoned two‑family duplex with rear parking and shared driveway
- Second‑floor duplex: three bedrooms and 1.5 bathrooms
- First‑floor unit: two bedrooms and one bathroom
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
$78,799
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
6.57%
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%
$1,575,980
$1.6M
Cap Rate 7%
$1,125,700
$1.1M
Cap Rate 9%
$875,544
$875.5K
Market Conditions
NOI Build-Up for 2,250 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
$114.8K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.6K $50.03/SF
− OpEx
−$33.8K −$15.01/SF
NOI
$78.8K $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%
$1,575,980
Cap Rate 7%
$1,125,700
Cap Rate 9%
$875,544
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$985.0K – $1.31M
NOI $78,799 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$981.3K
$858.6K – $1.14M
NOI $68,690 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,410 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,008
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 duplex with a finished basement, shared driveway, and rear parking, plus a three-bedroom/1.5-bath second floor and two-bedroom/one-bath first floor.
Where is this duplex located?
The property is located at 2048 E 54th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: R5 zoned two‑family duplex with rear parking and shared driveway; Second‑floor duplex: three bedrooms and 1.5 bathrooms; First‑floor unit: two bedrooms and one bathroom
