Brick Two-Family
For Sale
$1,388,000
2424 E 63rd Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size2,544 SF
Lot Size0.07 Acres
Price / SF$545.60
Days on Market42
Property Features for 2424 E 63rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 3
Interior features
Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
Mill Basin
Standard status
Active
Size
2,544 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
11448
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Doreen Alfano
(917) 257-0211
Added: Aug 21
Changed: Sep 19
Last Checked: Oct 1 at 3:06PM
MLS# 503769
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 2,544-square-foot semi-attached duplex was built in 1960 with brick construction and a flat roof. The layout provides three bedrooms over three bedrooms, along with three bathrooms and a finished basement with its own entrance. Hardwood flooring and an interior package including a stove, refrigerator, and microwave are included. The property is currently tenant occupied and may be delivered vacant.
The 0.0671-acre property is located at 2424 E 63rd Street in Brooklyn’s Mill Basin area. It includes three-car parking and carries R5 zoning. The two-family configuration offers separate residential levels within a single attached-home structure.
The 0.0671-acre property is located at 2424 E 63rd Street in Brooklyn’s Mill Basin area. It includes three-car parking and carries R5 zoning. The two-family configuration offers separate residential levels within a single attached-home structure.
Key Highlights
- Two‑family duplex with 3 bedrooms over 3 bedrooms
- 2,544 square feet on a 0.0671‑acre lot
- Finished basement with 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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
769
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
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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 - Semi-attached duplex with two three-bedroom units, a finished basement, separate entrance, and three-car parking.
Where is this duplex located?
The property is located at 2424 E 63rd Street 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; 2,544 square feet on a 0.0671‑acre lot; Finished basement with separate entrance
