Brick Two-Family
For Sale
$1,388,000
2424 E 63rd St, Brooklyn, NY 11234
Semi-attached residence with a finished basement, separate entry, and on-site parking.
Property Size2,544 SF
Days on Market17
Property Features for 2424 E 63rd St
General Information
Standard status
Active
Size
2,544 SF
Total Parking Spaces
3
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,448
Building Details
Building Size
2,544 SF
Year Built
1960
Stories
2
Construction
brick
Listing Agency:
Bergen Basin Realty
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Elliman
Added: Aug 24
Changed: Sep 2
Last Checked: Sep 8 at 4:29AM
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 Bergen Basin Realty
Investment Insights
Based on property information with market context.
This 1960-built, all-brick duplex is configured as a two-family residence with three bedrooms on each level. A finished basement adds usable interior space, while a separate entrance supports distinct access to the lower area. The semi-attached layout includes parking for three cars and is currently occupied by tenants, with the option for delivery vacant.
The property is located in Mill Basin at 2424 E 63rd St, Brooklyn, NY 11234. Walk Score is 93, categorized as a Walker’s Paradise; Transit Score is 79, reflecting Excellent Transit, and Bike Score is 58, classified as Bikeable. The combination of two residential units, basement space, separate access, and on-site parking provides a clearly defined multifamily configuration.
The property is located in Mill Basin at 2424 E 63rd St, Brooklyn, NY 11234. Walk Score is 93, categorized as a Walker’s Paradise; Transit Score is 79, reflecting Excellent Transit, and Bike Score is 58, classified as Bikeable. The combination of two residential units, basement space, separate access, and on-site parking provides a clearly defined multifamily configuration.
Key Highlights
- Two‑family duplex with 3 bedrooms over 3 bedrooms
- All‑brick, semi‑attached construction built in 1960
- Finished basement with a separate entrance
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
$89,095
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
6.42%
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%
$1,781,900
$1.8M
Cap Rate 7%
$1,272,786
$1.3M
Cap Rate 9%
$989,944
$989.9K
Market Conditions
NOI Build-Up for 2,544 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
$129.7K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$127.3K $50.03/SF
− OpEx
−$38.2K −$15.01/SF
NOI
$89.1K $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%
$1,781,900
Cap Rate 7%
$1,272,786
Cap Rate 9%
$989,944
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,095 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$1.11M
$970.8K – $1.29M
NOI $77,666 @ 7.0% cap · market cap 5.60%
Theoretical Best
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,450 @ 7.0% cap · market cap 10.62%
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
3,937
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 - Semi-attached residence with a finished basement, separate entry, and on-site parking.
Where is this duplex located?
The property is located at 2424 E 63rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Two‑family duplex with 3 bedrooms over 3 bedrooms; All‑brick, semi‑attached construction built in 1960; Finished basement with a separate entrance
