Renovated Brick
For Sale
$1,288,000
307 Bay 8th Street, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property Size1,640 SF
Lot Size0.03 Acres
Price / SF$785.37
Days on Market9
Property Features for 307 Bay 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 3, Bathroom 1
Interior features
A/C Unit, Refrigerator, Stove
Basement
Finished
Subdivision
Bath Beach
Standard status
Active
Size
1,640 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
9794
Building Details
Year built
1925
Floors in Building
3
Flooring type
Tile, Hardwood, Laminate
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Shaojie (Jayden) Liang · License #SL6230
(718) 210-2727
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 22 at 11:06AM
MLS# 503799
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 1,640-square-foot brick duplex includes two distinct residential units within a 1925-built property. The primary duplex spans the first and second floors with a living room, dining room, kitchen, full bathroom, and two bedrooms. A separate third-floor unit adds one bedroom, living space, and its own residential layout. The fully finished basement contains an additional full bathroom, boiler area, and open space.
Recent improvements include a new kitchen, flooring, and roof, along with separate heating and hot water systems for the two units. Hardwood, laminate, and tile flooring are present, with air conditioning, a refrigerator, and a stove included. The property sits on a 0.0331-acre lot, carries R4 zoning, and provides two-car parking through a community driveway.
The property is located near Dyker Beach Park, P.S. 229, and the shopping and dining along 86th Street. Access to the D train and multiple bus routes connects the area with Brooklyn and Manhattan.
Recent improvements include a new kitchen, flooring, and roof, along with separate heating and hot water systems for the two units. Hardwood, laminate, and tile flooring are present, with air conditioning, a refrigerator, and a stove included. The property sits on a 0.0331-acre lot, carries R4 zoning, and provides two-car parking through a community driveway.
The property is located near Dyker Beach Park, P.S. 229, and the shopping and dining along 86th Street. Access to the D train and multiple bus routes connects the area with Brooklyn and Manhattan.
Key Highlights
- Two‑family brick property with 1,640 square feet of interior space
- Main duplex includes two bedrooms, while the third‑floor unit has one bedroom
- Finished basement with full bathroom, boiler area, and open 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
$57,436
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
4.46%
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%
$1,148,720
$1.1M
Cap Rate 7%
$820,514
$820.5K
Cap Rate 9%
$638,178
$638.2K
Market Conditions
NOI Build-Up for 1,640 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
$83.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$82.1K $50.03/SF
− OpEx
−$24.6K −$15.01/SF
NOI
$57.4K $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%
$1,148,720
Cap Rate 7%
$820,514
Cap Rate 9%
$638,178
Alternative Uses
Best Use
Multifamily LT 5
$820.5K
$718.0K – $957.3K
NOI $57,436 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$715.2K
$625.8K – $834.5K
NOI $50,067 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 7.38%
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
1,312
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-family residence with separate heating systems, finished basement space, and community driveway parking.
Where is this duplex located?
The property is located at 307 Bay 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Two‑family brick property with 1,640 square feet of interior space; Main duplex includes two bedrooms, while the third‑floor unit has one bedroom; Finished basement with full bathroom, boiler area, and open space
