Renovated Two-Family
For Sale
$1,149,000
626 Rockaway Parkway, Brooklyn, NY 11236
Move-in ready two-family home with private parking, featuring a 3-bedroom duplex and a separate 2-bedroom unit near Brookdale Hospital.
Property Size2,400 SF
Days on Market87
Property Features for 626 Rockaway Parkway
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family Home
Zoning
R5
Additional Details
Multifamily Units
2
Building Details
Building Size
2,400 SF
Year Built
1945
Stories
3
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Tunde (Angel) Malka
(718) 763-4110
Source:
Kirinny
Added: Jun 15
Changed: Sep 8
Last Checked: Sep 8 at 4:22AM
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 LLC
Investment Insights
Based on property information with market context.
This newly renovated two-family duplex offers a practical owner-occupant or investor layout, with a spacious 3-bedroom duplex and two full bathrooms plus a half bathroom over a separate 2-bedroom apartment. The property has been updated throughout with new finishes and premium appliances, designed for modern comfort while maintaining a functional two-unit configuration.
The home is located at 626 Rockaway Pkwy in Brooklyn, NY 11236, conveniently near Brookdale Hospital Medical Center. WalkScore is listed as 73 (very walkable) and transitScore is 84 (excellent transit), supported by a bikeScore of 56 (bikeable), which can be helpful for tenants’ daily routines and commutes.
With a 24 x 110 lot, the property also includes private parking. The combination of an updated two-unit interior, a dedicated parking amenity, and a configuration that supports both live-in and rental use makes this an appealing fit for buyers seeking a move-in ready income property in East Flatbush.
The home is located at 626 Rockaway Pkwy in Brooklyn, NY 11236, conveniently near Brookdale Hospital Medical Center. WalkScore is listed as 73 (very walkable) and transitScore is 84 (excellent transit), supported by a bikeScore of 56 (bikeable), which can be helpful for tenants’ daily routines and commutes.
With a 24 x 110 lot, the property also includes private parking. The combination of an updated two-unit interior, a dedicated parking amenity, and a configuration that supports both live-in and rental use makes this an appealing fit for buyers seeking a move-in ready income property in East Flatbush.
Key Highlights
- Newly renovated 2‑family home with private parking in East Flatbush
- 3‑bedroom duplex layout with 2 full bathrooms plus a half bathroom
- Separate 2‑bedroom apartment within the same property
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
$84,052
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
7.32%
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%
$1,681,040
$1.7M
Cap Rate 7%
$1,200,743
$1.2M
Cap Rate 9%
$933,911
$933.9K
Market Conditions
NOI Build-Up for 2,400 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
$122.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.1K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$84.1K $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%
$1,681,040
Cap Rate 7%
$1,200,743
Cap Rate 9%
$933,911
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 6.38%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 12.11%
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
2,637
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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 - Move-in ready two-family home with private parking, featuring a 3-bedroom duplex and a separate 2-bedroom unit near Brookdale Hospital.
Where is this duplex located?
The property is located at 626 Rockaway Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Newly renovated 2‑family home with private parking in East Flatbush; 3‑bedroom duplex layout with 2 full bathrooms plus a half bathroom; Separate 2‑bedroom apartment within the same property
