Brick Duplex with
For Sale
$998,000
2068 E 55th Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size2,536 SF
Lot Size0.05 Acres
Price / SF$393.53
Days on Market120
Property Features for 2068 E 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 2
Subdivision
Old Mill Basin
Standard status
Active
Size
2,536 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8214
Building Details
Year built
1965
Floors in Building
3
Number of units
3
Flooring type
Carpet, Ceramic
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Bay Sun Realty Inc.
Listed By:
Chun Sung Ng Richard · License #CN1448
(718) 234-7777
Added: May 12
Changed: Sep 5
Last Checked: Sep 8 at 5:06AM
MLS# 501371
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 attached duplex is a two-family residential property measuring 2,536 square feet on a 0.0451-acre lot. Built in 1965, the structure features brick construction, an asphalt roof, and a mix of carpet and ceramic flooring. The room count includes five bedrooms and three bathrooms, providing a substantial residential layout within the R5 zoning designation.
The property is located near Avenue U, Kings Plaza, Home Depot, and Lowe’s, with restaurants, schools, parks, and transportation options in the surrounding area. Two parking spaces and the garage are rented separately, adding additional income-producing components to the property.
The property is located near Avenue U, Kings Plaza, Home Depot, and Lowe’s, with restaurants, schools, parks, and transportation options in the surrounding area. Two parking spaces and the garage are rented separately, adding additional income-producing components to the property.
Key Highlights
- 2,536‑square‑foot attached duplex on a 0.0451‑acre lot
- Five bedrooms and three bathrooms across the two‑family property
- Brick construction with asphalt roof, built in 1965
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
$88,815
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
8.90%
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%
$1,776,300
$1.8M
Cap Rate 7%
$1,268,786
$1.3M
Cap Rate 9%
$986,833
$986.8K
Market Conditions
NOI Build-Up for 2,536 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
$129.3K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$126.9K $50.03/SF
− OpEx
−$38.1K −$15.01/SF
NOI
$88.8K $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%
$1,776,300
Cap Rate 7%
$1,268,786
Cap Rate 9%
$986,833
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,815 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$1.11M
$967.8K – $1.29M
NOI $77,421 @ 7.0% cap · market cap 7.76%
Theoretical Best
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $146,987 @ 7.0% cap · market cap 14.73%
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 - Attached two-family property with separate parking and garage rental income in Brooklyn’s Old Mill Basin area.
Where is this duplex located?
The property is located at 2068 E 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: 2,536‑square‑foot attached duplex on a 0.0451‑acre lot; Five bedrooms and three bathrooms across the two‑family property; Brick construction with asphalt roof, built in 1965
