Brick Two-Family Home With
New
For Sale
$1,550,000
2303 62nd Street, Brooklyn, NY 11204
Residential, Brooklyn, NY
Property Size2,680 SF
Lot Size0.03 Acres
Price / SF$578.36
Days on Market2
Property Features for 2303 62nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 5
Parking features
Garage
Interior features
A/C Unit - Window, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
Bensonhurst
Standard status
Active
Size
2,680 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
9937
Amenities
private parking
laundry room
Building Details
Year built
1930
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Ping Chen
(917) 536-3632
Added: Sep 8
Last Checked: Sep 9 at 5:06PM
MLS# 504335
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 2,680-square-foot two-family property is constructed of brick and offers three above-ground floors with a built-in front garage and private carport. The walk-in level includes a one-bedroom, one-bath layout along with laundry and boiler rooms. A two-bedroom apartment occupies the second floor, while the third floor contains a three-bedroom apartment; each upper-level unit includes a full bath. Interior features include window A/C units, a dishwasher, laundry appliances, microwave, refrigerator, and stove, with tile and hardwood flooring throughout the residence.
The property sits near Bay Parkway, Seth Low Park, the public library, and the Bay Parkway N train station. B4 and B6 bus routes, supermarkets, restaurants, and banks are also nearby. Built in 1930, the home was substantially renovated approximately 14 years ago with plumbing and electrical updates, and the flat roof received a new coating last year. The property is zoned R4-1 and occupies a 0.0275-acre lot.
The property sits near Bay Parkway, Seth Low Park, the public library, and the Bay Parkway N train station. B4 and B6 bus routes, supermarkets, restaurants, and banks are also nearby. Built in 1930, the home was substantially renovated approximately 14 years ago with plumbing and electrical updates, and the flat roof received a new coating last year. The property is zoned R4-1 and occupies a 0.0275-acre lot.
Key Highlights
- 2,680‑square‑foot two‑family property with three above‑ground floors
- Brick construction with built‑in front garage, private carport, and parking for multiple vehicles
- Layout includes one-, two-, and three‑bedroom living spaces
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-level brick residence with private parking, flexible apartment layouts, and updated plumbing and electrical systems.
Where is this duplex located?
The property is located at 2303 62nd Street 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: 2,680‑square‑foot two‑family property with three above‑ground floors; Brick construction with built‑in front garage, private carport, and parking for multiple vehicles; Layout includes one-, two-, and three‑bedroom living spaces
