Brick Duplex Property with
For Sale
$2,480,000
189 Bay 10th Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,116 SF
Lot Size0.09 Acres
Price / SF$1,172
Days on Market127
Property Features for 189 Bay 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,116 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
7589
Amenities
private driveway
detached two-level garage
private backyard
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Meiwen (Carmen) Li
(917) 708-9966
Added: Apr 23
Changed: Aug 22
Last Checked: Aug 27 at 10:06PM
MLS# 500805
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 brick duplex property contains two distinct residences within a 2,116-square-foot building. The lower residence spans the main and lower levels with two bedrooms, formal living and dining rooms, a kitchen, and two full bathrooms. The upper residence extends across the second and third floors and includes three bedrooms, a kitchen, and two full bathrooms. A finished lower level adds a full bathroom and separate rear access.
The property occupies a 0.0888-acre lot at 189 Bay 10th Street in Brooklyn’s Dyker Park area. Exterior features include a private driveway, a detached two-level garage, and a maintained backyard. Hardwood and tile flooring, a flat roof, refrigerator, stove, and brick construction are also included. The property is zoned R4 and was built in 1920.
The property occupies a 0.0888-acre lot at 189 Bay 10th Street in Brooklyn’s Dyker Park area. Exterior features include a private driveway, a detached two-level garage, and a maintained backyard. Hardwood and tile flooring, a flat roof, refrigerator, stove, and brick construction are also included. The property is zoned R4 and was built in 1920.
Key Highlights
- 2,116 square feet with two duplex residences
- Lower duplex has 2 bedrooms, formal living and dining rooms, and 2 full bathrooms
- Upper duplex includes 3 bedrooms, a kitchen, and 2 full bathrooms
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
$74,106
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
2.99%
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%
$1,482,120
$1.5M
Cap Rate 7%
$1,058,657
$1.1M
Cap Rate 9%
$823,400
$823.4K
Market Conditions
NOI Build-Up for 2,116 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
$107.9K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$105.9K $50.03/SF
− OpEx
−$31.8K −$15.01/SF
NOI
$74.1K $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%
$1,482,120
Cap Rate 7%
$1,058,657
Cap Rate 9%
$823,400
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$926.3K – $1.24M
NOI $74,106 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$922.8K
$807.5K – $1.08M
NOI $64,599 @ 7.0% cap · market cap 2.60%
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,643 @ 7.0% cap · market cap 4.95%
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
1,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Two separate residences offer duplex layouts, private parking, and finished lower-level space.
Where is this duplex located?
The property is located at 189 Bay 10th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: 2,116 square feet with two duplex residences; Lower duplex has 2 bedrooms, formal living and dining rooms, and 2 full bathrooms; Upper duplex includes 3 bedrooms, a kitchen, and 2 full bathrooms
