Duplex Property with Covered
New
For Sale
$1,200,000
2411 E 70th Street, Brooklyn, NY 11234
SINGLE_FAMILY - Brooklyn, NY
Property Size2,172 SF
Lot Size0.06 Acres
Price / SF$552.49
Days on Market7
Property Features for 2411 E 70th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-1
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 2
Patio and Porch features
Deck
Interior features
Central Air, Deck, Dishwasher, Dryer, Laundry Area, Refrigerator, Washer
Subdivision
Bergen Beach
Standard status
Active
Size
2,172 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9094
Amenities
central air conditioning
covered composite deck
patio
outdoor kitchen
fully fenced backyard
new windows and doors
recessed lighting
Building Details
Year built
1975
Flooring type
Parquet Wood, Tile
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Olga Loshakova Mills
(718) 612-3088
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 6:06PM
MLS# 503593
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 duplex property contains approximately 2,172 square feet of living space on a 25' x 100' lot. The main level includes a living room opening to a covered composite deck, a dining area, an eat-in kitchen with custom wood cabinetry, granite countertops, newer stainless-steel appliances, and a powder room. Three bedrooms and a renovated full bathroom are located upstairs. The lower level adds two finished rooms, another renovated full bathroom, a dedicated laundry room with built-in cabinetry and a utility sink, plus direct backyard access.
Outdoor improvements include a fully fenced yard, covered composite decking, an expansive patio, additional covered seating, a built-in outdoor kitchen with grill and prep area, and landscaped grounds. Additional features include central air conditioning, newer Andersen and Pella windows and doors, recessed lighting, a newer hot water heater, parquet wood and tile flooring, and substantial storage. A private paver driveway accommodates two cars, with room for a third vehicle. The property is near parks, schools, shopping, and transportation in Bergen Beach.
Outdoor improvements include a fully fenced yard, covered composite decking, an expansive patio, additional covered seating, a built-in outdoor kitchen with grill and prep area, and landscaped grounds. Additional features include central air conditioning, newer Andersen and Pella windows and doors, recessed lighting, a newer hot water heater, parquet wood and tile flooring, and substantial storage. A private paver driveway accommodates two cars, with room for a third vehicle. The property is near parks, schools, shopping, and transportation in Bergen Beach.
Key Highlights
- Approximately 2,172 square feet on a 25' x 100' lot
- Three bedrooms, three bathrooms, two finished lower‑level rooms, and a dedicated laundry room
- Covered composite deck, expansive patio, outdoor kitchen, and fully fenced backyard
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
$76,067
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
6.34%
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%
$1,521,340
$1.5M
Cap Rate 7%
$1,086,671
$1.1M
Cap Rate 9%
$845,189
$845.2K
Market Conditions
NOI Build-Up for 2,172 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
$110.8K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$108.7K $50.03/SF
− OpEx
−$32.6K −$15.01/SF
NOI
$76.1K $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%
$1,521,340
Cap Rate 7%
$1,086,671
Cap Rate 9%
$845,189
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$950.8K – $1.27M
NOI $76,067 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$947.3K
$828.9K – $1.11M
NOI $66,309 @ 7.0% cap · market cap 5.53%
Theoretical Best
Specialty Retail
$1.80M
$1.57M – $2.10M
NOI $125,889 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
486
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 - Updated duplex property with flexible finished space, outdoor entertaining areas, and private parking in Bergen Beach.
Where is this duplex located?
The property is located at 2411 E 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 2,172 square feet on a 25' x 100' lot; Three bedrooms, three bathrooms, two finished lower‑level rooms, and a dedicated laundry room; Covered composite deck, expansive patio, outdoor kitchen, and fully fenced backyard
