Newly Renovated Two-Family
For Sale
$1,149,000
626 Rockaway Parkway, Brooklyn, NY 11236
MULTI_FAMILY - Brooklyn, NY
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$478.75
Days on Market60
Property Features for 626 Rockaway Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 3
Patio and Porch features
Porch, Patio
Interior features
A/C Unit - Window, Dishwasher, Dryer, Laundry Area, Microwave, Patio Garden, Porch, Stove, Washer
Subdivision
East Flatbush
Standard status
Active
Size
2,400 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6596
Building Details
Year built
1945
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Ceramic
Building materials
Brick
Roof type
Shingle
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Tunde (Angel) Malka
(718) 763-4110
Added: Jun 15
Changed: Aug 10
Last Checked: Aug 13 at 8:06AM
MLS# 502306
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.
Newly renovated two-family duplex on a 24 x 110 lot in East Flatbush. Built in 1945 with brick construction and a shingle roof, the home provides a 3-bedroom, two-bath duplex setup over a 2-bedroom apartment. The arrangement also includes an additional half bathroom, plus private parking for residents.
The property totals about 2,400 square feet and sits on approximately 0.0606 acres. Interior amenities include window A/C, a dishwasher, microwave, washer/dryer, and a designated laundry area. Flooring is hardwood and ceramic, with outdoor space featuring a porch and patio garden.
The home is positioned near Brookdale Hospital Medical Center, offering convenient access to employment and healthcare services while maintaining a residential feel.
The property totals about 2,400 square feet and sits on approximately 0.0606 acres. Interior amenities include window A/C, a dishwasher, microwave, washer/dryer, and a designated laundry area. Flooring is hardwood and ceramic, with outdoor space featuring a porch and patio garden.
The home is positioned near Brookdale Hospital Medical Center, offering convenient access to employment and healthcare services while maintaining a residential feel.
Key Highlights
- R5‑zoned two‑family duplex with private parking
- 24 x 110 lot and approximately 0.0606 acres
- About 2,400 square feet of total space
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 - R5-zoned duplex with private parking, newly renovated interiors, and a 3-bedroom duplex over a 2-bedroom unit.
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: R5‑zoned two‑family duplex with private parking; 24 x 110 lot and approximately 0.0606 acres; About 2,400 square feet of total space
