Three-Bedroom Duplex with Detached
For Sale
$649,000
660 E 37th Street, Brooklyn, NY 11203
SINGLE_FAMILY - Brooklyn, NY
Property Size1,144 SF
Lot Size0.05 Acres
Price / SF$567.31
Days on Market535
Property Features for 660 E 37th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3
Parking features
Garage - Detached
Interior features
A/C Unit - Wall, A/C Unit - Window, Garage Door Opener(s), Laundry Area, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
East Flatbush
Standard status
Active
Size
1,144 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5299
Building Details
Year built
1925
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick, Wood Frame
Architectural style
Other
Listing Agency:
Century 21 Achievers
(718) 758-0600
Listed By:
Andre Hanniford
(718) 758-0600
Added: Feb 24, 2025
Changed: Aug 3
Last Checked: Aug 13 at 3:06PM
MLS# 489464
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.
Semi-attached three-bedroom duplex in Brooklyn’s East Flatbush area, built in 1925. The home includes formal living and dining rooms, lots of closets, and hardwood and tile flooring. A finished basement features a separate entrance, adding flexibility to daily use. The front and back yards are fully fenced, and there is an extra-wide shared driveway with a detached garage.
Interior conveniences include wall and window A/C units, a dedicated laundry area, and appliances including a refrigerator and stove, plus washer support. Parking is provided with a detached garage.
The property sits on a 0.0459-acre lot and is zoned R4.
Interior conveniences include wall and window A/C units, a dedicated laundry area, and appliances including a refrigerator and stove, plus washer support. Parking is provided with a detached garage.
The property sits on a 0.0459-acre lot and is zoned R4.
Key Highlights
- Semi‑attached three‑bedroom duplex built in 1925
- Finished basement with separate entrance
- Fully fenced front and back yards
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
$40,065
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
6.17%
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%
$801,300
$801.3K
Cap Rate 7%
$572,357
$572.4K
Cap Rate 9%
$445,167
$445.2K
Market Conditions
NOI Build-Up for 1,144 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
$58.3K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$57.2K $50.03/SF
− OpEx
−$17.2K −$15.01/SF
NOI
$40.1K $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%
$801,300
Cap Rate 7%
$572,357
Cap Rate 9%
$445,167
Alternative Uses
Best Use
Multifamily LT 5
$572.4K
$500.8K – $667.8K
NOI $40,065 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$498.9K
$436.6K – $582.1K
NOI $34,925 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$947.2K
$828.8K – $1.11M
NOI $66,306 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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-attached R4 duplex with three bedrooms, finished basement with separate entrance, and a detached garage.
Where is this duplex located?
The property is located at 660 E 37th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Semi‑attached three‑bedroom duplex built in 1925; Finished basement with separate entrance; Fully fenced front and back yards
