Duplex with Private
For Sale
$1,068,000
1655 Marine Parkway, Brooklyn, NY 11234
Residential, Duplex, Brooklyn, NY
Property Size1,176 SF
Lot Size0.07 Acres
Price / SF$908.16
Days on Market180
Property Features for 1655 Marine Parkway
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Garage - Detached
Patio and Porch features
Porch
Interior features
A/C Unit - Wall, A/C Unit - Window, Dryer, Microwave, Porch, Refrigerator, Stove, Washer, Window Treatments
Basement
Finished
Subdivision
Marine Park
Standard status
Active
Size
1,176 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6226
Building Details
Year built
1925
Floors in Building
2
Flooring type
Parquet Wood, Carpet
Building materials
Wood Frame
Architectural style
Other
Listing Agency:
BHHS Fillmore R.E.
(718) 377-6161
Listed By:
Lucy Ciocia
(718) 368-2500
Added: Mar 13
Changed: Sep 5
Last Checked: Sep 8 at 10:06AM
MLS# 499601
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 contains 1,176 square feet on a 0.0689-acre lot and was built in 1925 with wood-frame construction. The layout includes three bedrooms and two bathrooms, along with carpet and parquet wood flooring. A recently finished basement provides a separate side entrance, while the home also includes a porch, private yard, and detached one-car garage.
The property has a private driveway with parking for multiple vehicles. Mechanical features include gas heating and a gas hot water tank. Additional interior features include window or wall A/C units, a washer, dryer, refrigerator, stove, microwave, and window treatments. Located at 1655 Marine Parkway in Brooklyn, the property is zoned R3-2.
The property has a private driveway with parking for multiple vehicles. Mechanical features include gas heating and a gas hot water tank. Additional interior features include window or wall A/C units, a washer, dryer, refrigerator, stove, microwave, and window treatments. Located at 1655 Marine Parkway in Brooklyn, the property is zoned R3-2.
Key Highlights
- 1,176 SF duplex on a 0.0689‑acre lot
- Three bedrooms and two bathrooms
- Finished basement with separate side entrance
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
$41,186
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
3.86%
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%
$823,720
$823.7K
Cap Rate 7%
$588,371
$588.4K
Cap Rate 9%
$457,622
$457.6K
Market Conditions
NOI Build-Up for 1,176 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
$60.0K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$58.8K $50.03/SF
− OpEx
−$17.7K −$15.01/SF
NOI
$41.2K $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%
$823,720
Cap Rate 7%
$588,371
Cap Rate 9%
$457,622
Alternative Uses
Best Use
Multifamily LT 5
$588.4K
$514.8K – $686.4K
NOI $41,186 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$512.9K
$448.8K – $598.4K
NOI $35,902 @ 7.0% cap · market cap 3.36%
Theoretical Best
Specialty Retail
$973.7K
$852.0K – $1.14M
NOI $68,161 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,555
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
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Frequently Asked Questions
What type of property is this?
Duplex - Wood-frame residential property with a detached garage, private driveway, and finished basement with side access.
Where is this duplex located?
The property is located at 1655 Marine Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: 1,176 SF duplex on a 0.0689‑acre lot; Three bedrooms and two bathrooms; Finished basement with separate side entrance
