Move-In Ready Brick Single-Family
For Sale
$938,000
3116 Avenue R, Brooklyn, NY 11234
SINGLE_FAMILY - Brooklyn, NY
Property Size1,500 SF
Lot Size0.03 Acres
Price / SF$625.33
Days on Market38
Property Features for 3116 Avenue R
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Parking features
Garage
Patio and Porch features
Deck
Interior features
Central Air - Split, Deck, Dishwasher, Laundry Area, Microwave, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Marine Park
Standard status
Active
Size
1,500 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6288
Building Details
Year built
1925
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Pride Estates
(718) 569-2888
Listed By:
Danny D. Chung
(718) 569-2888
Added: Jul 6
Changed: Aug 11
Last Checked: Aug 12 at 2:06PM
MLS# 502788
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.
Beautiful, move-in ready one-family brick home in Marine Park at 3116 Avenue R. The home features an 18' x 80' lot with an 18' x 34' building footprint and an approximately 1,500-square-foot layout. On the second floor, you’ll find three bedrooms and a full modern bathroom with subway tiling and a skylight that brings in natural light.
The first floor offers an open living and entertaining flow, including a spacious living room, formal dining room, and a fully equipped kitchen. This level provides direct access to a private outdoor deck. The lower level includes its own separate entrance, a large recreation room, a 3/4 bathroom, a laundry area, and direct access to the attached garage.
Additional updates and conveniences include stainless-steel appliances with a kitchen granite countertop and glass backsplash, plus an efficient split-system cooling setup. The property is located in a residential area zoned R4.
The first floor offers an open living and entertaining flow, including a spacious living room, formal dining room, and a fully equipped kitchen. This level provides direct access to a private outdoor deck. The lower level includes its own separate entrance, a large recreation room, a 3/4 bathroom, a laundry area, and direct access to the attached garage.
Additional updates and conveniences include stainless-steel appliances with a kitchen granite countertop and glass backsplash, plus an efficient split-system cooling setup. The property is located in a residential area zoned R4.
Key Highlights
- One‑family brick home built in 1925 with hardwood and tile flooring and a flat roof
- 18' x 80' lot with an 18' x 34' building footprint
- Second floor: three bedrooms plus a full modern bathroom with subway tile and a skylight
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
$45,793
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
4.88%
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%
$915,860
$915.9K
Cap Rate 7%
$654,186
$654.2K
Cap Rate 9%
$508,811
$508.8K
Market Conditions
NOI Build-Up for 1,500 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
$85.0K $56.64/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$83.3K $55.51/SF
− OpEx
−$37.5K −$24.98/SF
NOI
$45.8K $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%
$915,860
Cap Rate 7%
$654,186
Cap Rate 9%
$508,811
Alternative Uses
Best Use
Apartment 5plus
$654.2K
$572.4K – $763.2K
NOI $45,793 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,940 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,324
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - One-family brick residence with deck access, private driveway, attached garage, and split-system cooling.
Where is this single family property located?
The property is located at 3116 Avenue R Brooklyn, NY.
What is the asking price?
The asking price for this property is $938,000.
What are key features of this property?
This property features: One‑family brick home built in 1925 with hardwood and tile flooring and a flat roof; 18' x 80' lot with an 18' x 34' building footprint; Second floor: three bedrooms plus a full modern bathroom with subway tile and a skylight
