Brick Duplex with Finished Lower
For Sale
$1,080,000
2069 E 55th Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size1,100 SF
Lot Size0.05 Acres
Price / SF$981.82
Days on Market154
Property Features for 2069 E 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
5
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 5
Patio and Porch features
Porch
Interior features
A/C Unit, A/C Unit - Wall, Porch
Basement
Finished
Subdivision
Old Mill Basin
Standard status
Active
Size
1,100 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8451
Amenities
balconies
washer/dryer hookup
large yard
Building Details
Year built
1970
Number of units
2
Flooring type
Hardwood, Tile, Laminate
Building materials
Brick
Roof type
Flat
Listing Agency:
Tree of Life Realty & Mgmt LLC
Listed By:
Larisa Elchananov
(646) 710-0602
Added: Apr 22
Changed: Sep 15
Last Checked: Sep 22 at 2:06PM
MLS# 500780
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 1,100-square-foot brick duplex, built in 1970, contains two 3-bedroom apartments with 1.5 baths apiece. Each apartment includes an eat-in kitchen, open living and dining areas, hardwood flooring, and a balcony. A finished vacant level adds a full bath, washer/dryer hookup, and access to the backyard. Additional features include wall and unit A/C, laminate and tile flooring, a flat roof, and a porch.
The property at 2069 E 55th Street in Brooklyn’s Old Mill Basin area includes a private driveway accommodating 2 cars and a large yard. Kings Plaza, shopping, schools, parks, and transportation are identified as nearby amenities.
The property at 2069 E 55th Street in Brooklyn’s Old Mill Basin area includes a private driveway accommodating 2 cars and a large yard. Kings Plaza, shopping, schools, parks, and transportation are identified as nearby amenities.
Key Highlights
- Two 3‑bedroom apartments, each with 1.5 baths
- Finished vacant level with full bath and washer/dryer hookup
- 1,100 square feet on a 0.0505‑acre lot
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
$38,524
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
3.57%
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%
$770,480
$770.5K
Cap Rate 7%
$550,343
$550.3K
Cap Rate 9%
$428,044
$428.0K
Market Conditions
NOI Build-Up for 1,100 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
$56.1K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$55.0K $50.03/SF
− OpEx
−$16.5K −$15.01/SF
NOI
$38.5K $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%
$770,480
Cap Rate 7%
$550,343
Cap Rate 9%
$428,044
Alternative Uses
Best Use
Multifamily LT 5
$550.3K
$481.6K – $642.1K
NOI $38,524 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$479.7K
$419.8K – $559.7K
NOI $33,582 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$910.8K
$797.0K – $1.06M
NOI $63,756 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The property includes two apartments and a finished vacant level with a full bath.
Where is this duplex located?
The property is located at 2069 E 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Two 3‑bedroom apartments, each with 1.5 baths; Finished vacant level with full bath and washer/dryer hookup; 1,100 square feet on a 0.0505‑acre lot
