Two-Unit Duplex
For Sale
$1,520,000
Pending
344 62nd St, Brooklyn, NY 11220
Semi-detached two-story building with separate residential units, shared parking, and access to transportation and neighborhood services.
Property Size2,248 SF
Days on Market12
Property Features for 344 62nd St
General Information
Standard status
Pending
Size
2,248 SF
Total Parking Spaces
3
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,146
Building Details
Building Size
2,248 SF
Year Built
1920
Buildings
1
Stories
2
Construction
frame
Tenancy
Multi
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hui Bin (Sky) Wu
(917) 708-9966
Source:
Elliman
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 13 at 10:27AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This semi-detached frame duplex, built in 1920, contains two stories and two residential units within approximately 2,248 square feet. The building measures 20 x 58, and a shared driveway provides parking for up to 3 cars.
The property is located near 3rd Ave and 4th Ave in Brooklyn, with shopping, restaurants, transportation, and neighborhood amenities nearby. Walk Score is 96, Transit Score is 91, and Bike Score is 81, reflecting strong access by foot, public transportation, and bicycle.
The property is located near 3rd Ave and 4th Ave in Brooklyn, with shopping, restaurants, transportation, and neighborhood amenities nearby. Walk Score is 96, Transit Score is 91, and Bike Score is 81, reflecting strong access by foot, public transportation, and bicycle.
Key Highlights
- Two‑story duplex with 2 residential units
- Approximately 2,248 sq ft building measuring 20 x 58
- Semi‑detached frame construction built in 1920
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
$66,933
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
4.40%
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%
$1,338,660
$1.3M
Cap Rate 7%
$956,186
$956.2K
Cap Rate 9%
$743,700
$743.7K
Market Conditions
NOI Build-Up for 2,248 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
$99.8K $44.40/SF
− Vacancy
−$4.2K −$1.86/SF
EGI
$95.6K $42.54/SF
− OpEx
−$28.7K −$12.76/SF
NOI
$66.9K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,338,660
Cap Rate 7%
$956,186
Cap Rate 9%
$743,700
Alternative Uses
Best Use
Multifamily LT 5
$956.2K
$836.7K – $1.12M
NOI $66,933 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$856.4K
$749.3K – $999.1K
NOI $59,947 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,012 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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-detached two-story building with separate residential units, shared parking, and access to transportation and neighborhood services.
Where is this duplex located?
The property is located at 344 62nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Two‑story duplex with 2 residential units; Approximately 2,248 sq ft building measuring 20 x 58; Semi‑detached frame construction built in 1920
