Renovated Two-Family Home with
For Sale
$1,229,000
2544 East 64th Street, Brooklyn, NY 11234
Two-family layout currently configured for single-family use, with a finished lower level and private outdoor amenities.
Property Size1,857 SF
Lot Size0.09 Acres
Price / SF$585.24
Days on Market56
Property Features for 2544 East 64th Street
General Information
Standard status
Active
Size
1,857 SF
Lot size
0.09 Acres
Property subtype
Multi Family Home
Zoning
R3-1
Additional Details
Multifamily Units
2
Amenities
bay windows
open-concept chef's kitchen
granite countertops
wall oven
bar island
stainless steel appliances
radiant heated hardwood and porcelain tile floors
sunroom
sauna
steam room
backyard
custom canopy
patio
gated dog run
family room
laundry room
kitchen hook-ups
tankless water heater
Building Details
Building Size
1,857 SF
Year Built
1960
Stories
2
Listing Agency:
Brooklyn4u Rltyof Dykerheights
(718) 236-1800
Listed By:
Maria Fabbro
(718) 236-1800
Source:
Excellchoicerealty
Added: Jul 6
Changed: Aug 28
Last Checked: Aug 28 at 11:32AM
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 Brooklyn4u Rltyof Dykerheights
Investment Insights
Based on property information with market context.
This two-family residence offers 2,100 square feet of living space on a 40 x 100 lot and is currently arranged for single-family occupancy. The main level features an open kitchen with granite counters, a wall oven, bar island, stainless steel appliances, bay-windowed living space, and a primary bedroom with backyard access. Radiant-heated hardwood and porcelain tile floors run throughout the home. Recent renovations include a tankless water heater and other efficiency upgrades.
A sunroom contains a sauna and steam room and opens toward the backyard, which includes a custom canopy, patio, and gated dog run. The lower level provides a family room, full bath, bedroom, laundry room, garage, and kitchen hook-ups. The property is vacant and located in Mill Basin at 2544 East 64th Street, Brooklyn, NY 11234. Zoning is R3-1, and the home was built in 1960.
A sunroom contains a sauna and steam room and opens toward the backyard, which includes a custom canopy, patio, and gated dog run. The lower level provides a family room, full bath, bedroom, laundry room, garage, and kitchen hook-ups. The property is vacant and located in Mill Basin at 2544 East 64th Street, Brooklyn, NY 11234. Zoning is R3-1, and the home was built in 1960.
Key Highlights
- Two‑family residence currently used as a single‑family home
- 2,100 square feet on a 40 x 100 lot
- Lower level includes bedroom, full bath, laundry room, garage, and kitchen hook‑ups
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
$73,546
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
5.98%
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%
$1,470,920
$1.5M
Cap Rate 7%
$1,050,657
$1.1M
Cap Rate 9%
$817,178
$817.2K
Market Conditions
NOI Build-Up for 2,100 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
$107.1K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.1K $50.03/SF
− OpEx
−$31.5K −$15.01/SF
NOI
$73.5K $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%
$1,470,920
Cap Rate 7%
$1,050,657
Cap Rate 9%
$817,178
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$919.3K – $1.23M
NOI $73,546 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$915.9K
$801.4K – $1.07M
NOI $64,111 @ 7.0% cap · market cap 5.22%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,716 @ 7.0% cap · market cap 9.90%
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
587
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 - Two-family layout currently configured for single-family use, with a finished lower level and private outdoor amenities.
Where is this duplex located?
The property is located at 2544 East 64th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,229,000.
What are key features of this property?
This property features: Two‑family residence currently used as a single‑family home; 2,100 square feet on a 40 x 100 lot; Lower level includes bedroom, full bath, laundry room, garage, and kitchen hook‑ups
