Duplex with Covered
For Sale
$749,000
3217 Avenue S, Brooklyn, NY 11234
SINGLE_FAMILY - Brooklyn, NY
Property Size1,146 SF
Lot Size0.04 Acres
Price / SF$653.58
Days on Market32
Property Features for 3217 Avenue S
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3
Parking features
Carport
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Marine Park
Standard status
Active
Size
1,146 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5500
Building Details
Year built
1925
Floors in Building
2
Flooring type
Hardwood
Roof type
Flat
Architectural style
Other
Listing Agency:
MadisonEstates Sothebys Realty
(718) 645-1665
Listed By:
Charles D'Alessandro
(718) 645-1665
Added: Jul 6
Changed: Aug 3
Last Checked: Aug 6 at 8:06PM
MLS# 502819
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.
A well-maintained duplex with 3 bedrooms and 1.5 bathrooms, featuring an open-concept kitchen and dining area designed for everyday living and entertaining. The first floor includes a laundry room plus additional office or flex space, and a full semi-finished basement provides extra recreation space and storage.
The home sits on a 0.0351-acre lot and includes 1,146 square feet of interior space. Hardwood flooring runs through the home, and the kitchen is equipped with a refrigerator and stove. Outside, there is private parking with a covered carport.
Built in 1925, the property has a flat roof and is set in the Marine Park area, minutes from Marine Park tennis courts, playgrounds, and the Carmine Carro Community Center.
The home sits on a 0.0351-acre lot and includes 1,146 square feet of interior space. Hardwood flooring runs through the home, and the kitchen is equipped with a refrigerator and stove. Outside, there is private parking with a covered carport.
Built in 1925, the property has a flat roof and is set in the Marine Park area, minutes from Marine Park tennis courts, playgrounds, and the Carmine Carro Community Center.
Key Highlights
- 0.0351‑acre lot with 1,146 square feet
- 3 bedrooms and 1.5 bathrooms
- Open‑concept kitchen and dining area
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
$40,135
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
5.36%
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%
$802,700
$802.7K
Cap Rate 7%
$573,357
$573.4K
Cap Rate 9%
$445,944
$445.9K
Market Conditions
NOI Build-Up for 1,146 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
$58.4K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$57.3K $50.03/SF
− OpEx
−$17.2K −$15.01/SF
NOI
$40.1K $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%
$802,700
Cap Rate 7%
$573,357
Cap Rate 9%
$445,944
Alternative Uses
Best Use
Multifamily LT 5
$573.4K
$501.7K – $668.9K
NOI $40,135 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$499.8K
$437.3K – $583.1K
NOI $34,986 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$948.9K
$830.3K – $1.11M
NOI $66,422 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,037
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 private covered carport, hardwood floors, and a semi-finished basement for added living space.
Where is this duplex located?
The property is located at 3217 Avenue S Brooklyn, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 0.0351‑acre lot with 1,146 square feet; 3 bedrooms and 1.5 bathrooms; Open‑concept kitchen and dining area
