Duplex with Renovated Studio
For Sale
$825,000
1523 E 34th Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size2,260 SF
Lot Size0.04 Acres
Price / SF$365.04
Days on Market113
Property Features for 1523 E 34th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 1
Patio and Porch features
Porch
Interior features
A/C Unit - Wall, Dishwasher, Laundry Area, Porch, Refrigerator, Stove
Basement
Finished
Subdivision
Marine Park
Standard status
Active
Size
2,260 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
8925
Amenities
private driveway
attached garage
backyard access
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Brooklyn Residential R E Serv
(718) 676-1755
Listed By:
Jack Menashe
(718) 676-1755
Added: May 4
Changed: Aug 17
Last Checked: Aug 24 at 10:06PM
MLS# 501128
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.
This duplex includes a 3-bedroom, 1.5-bath residence on the second floor, with an additional fully renovated studio apartment below. The home features a private driveway and an attached garage, and the lower studio offers backyard access/exit. Interior features include wall-mounted A/C, a dishwasher, a refrigerator, a stove, and a dedicated laundry area. Flooring is hardwood and tile. The roof is flat, and there is a porch.
The property is located in Brooklyn with zoning designated R4. The lot size is 0.0352 acres, and the building size is 2,260 square feet. The FAR is listed as 1.47/.75 (overbuilt). The home was built in 1945, and the Department of Finance building classification is B3-2 Family Dwelling (one meter).
The property may be delivered vacant at close or with a paying tenant.
The property is located in Brooklyn with zoning designated R4. The lot size is 0.0352 acres, and the building size is 2,260 square feet. The FAR is listed as 1.47/.75 (overbuilt). The home was built in 1945, and the Department of Finance building classification is B3-2 Family Dwelling (one meter).
The property may be delivered vacant at close or with a paying tenant.
Key Highlights
- Private driveway and attached garage
- 3‑bedroom, 1.5‑bath duplex on the second floor
- Fully renovated studio apartment below with backyard access/exit
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
$68,995
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
8.36%
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%
$1,379,900
$1.4M
Cap Rate 7%
$985,643
$985.6K
Cap Rate 9%
$766,611
$766.6K
Market Conditions
NOI Build-Up for 2,260 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
$128.0K $56.64/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$125.4K $55.51/SF
− OpEx
−$56.5K −$24.98/SF
NOI
$69.0K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,379,900
Cap Rate 7%
$985,643
Cap Rate 9%
$766,611
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$989.4K – $1.32M
NOI $79,149 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$985.6K
$862.4K – $1.15M
NOI $68,995 @ 7.0% cap · market cap 8.36%
Theoretical Best
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,990 @ 7.0% cap · market cap 15.88%
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
3,020
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R4 zoned duplex with a 3-bedroom, 1.5-bath layout on the second floor plus a fully renovated studio below.
Where is this duplex located?
The property is located at 1523 E 34th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Private driveway and attached garage; 3‑bedroom, 1.5‑bath duplex on the second floor; Fully renovated studio apartment below with backyard access/exit
