Brick Two-Family Home with Private
New
For Sale
$1,550,000
2303 62nd St, Brooklyn, NY 11204
Three above-ground floors offer flexible residential layouts with dedicated vehicle storage and separate apartment configurations.
Property Size2,680 SF
Days on Market3
Property Features for 2303 62nd St
General Information
Standard status
Active
Size
2,680 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,936
Building Details
Building Size
2,680 SF
Year Built
1930
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Ping Chen
(718) 612-3088
Source:
Elliman
Added: Sep 9
Last Checked: Sep 10 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Located at 2303 62nd St in Brooklyn, this solid-brick duplex contains two residential apartments across three above-ground floors, along with a walk-in level. The first floor includes one bedroom, one bathroom, a laundry room, and a boiler room. A two-bedroom apartment occupies the second floor, while the third-floor apartment has three bedrooms and one full bathroom. On-site parking is provided through a private carport and an integrated front garage.
The property underwent a gut renovation approximately 14 years ago, including plumbing and electrical upgrades. The roof received a new coating last year. Bay Parkway, Seth Low Park, the public library, Bay Parkway N train station, B4 and B6 bus service, supermarkets, restaurants, and banks are nearby. WalkScore is 96, TransitScore is 86, and BikeScore is 67.
The property underwent a gut renovation approximately 14 years ago, including plumbing and electrical upgrades. The roof received a new coating last year. Bay Parkway, Seth Low Park, the public library, Bay Parkway N train station, B4 and B6 bus service, supermarkets, restaurants, and banks are nearby. WalkScore is 96, TransitScore is 86, and BikeScore is 67.
Key Highlights
- Solid‑brick two‑family home with three above‑ground floors
- First floor includes 1 bedroom, 1 bath, laundry room, and boiler room
- Second‑floor apartment has 2 bedrooms and a full 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
$93,858
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
6.06%
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%
$1,877,160
$1.9M
Cap Rate 7%
$1,340,829
$1.3M
Cap Rate 9%
$1,042,867
$1.0M
Market Conditions
NOI Build-Up for 2,680 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
$136.7K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$134.1K $50.03/SF
− OpEx
−$40.2K −$15.01/SF
NOI
$93.9K $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%
$1,877,160
Cap Rate 7%
$1,340,829
Cap Rate 9%
$1,042,867
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,858 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,818 @ 7.0% cap · market cap 5.28%
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,333 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Three above-ground floors offer flexible residential layouts with dedicated vehicle storage and separate apartment configurations.
Where is this duplex located?
The property is located at 2303 62nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Solid‑brick two‑family home with three above‑ground floors; First floor includes 1 bedroom, 1 bath, laundry room, and boiler room; Second‑floor apartment has 2 bedrooms and a full bath
