Detached Single-Family Home with
For Sale
$669,000
35 Melba Court, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size992 SF
Lot Size0.04 Acres
Price / SF$674.40
Days on Market147
Property Features for 35 Melba Court
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Carport
Interior features
Dishwasher, Dryer, Refrigerator, Stove, Washer
Subdivision
Gerritsen Beach
Standard status
Active
Size
992 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5598
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile
Architectural style
Other
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Hope Milea
(718) 763-4110
Added: Apr 17
Changed: Sep 5
Last Checked: Sep 10 at 10:06AM
MLS# 500609
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.
Detached one-family home offering three bedrooms and two baths with an open floor plan on the first level. The kitchen includes a modern island with Caesar Stone countertops, and the home features tile flooring with heated elements (currently will need to be hooked up). The primary suite includes a new half bath. Additional details include a private carport and a fenced-in backyard. There is no basement.
Located in Brooklyn under R4 zoning, the property sits on a 0.0413-acre lot and totals 992 square feet.
The layout is designed around a bright, sun-filled first floor, with the primary suite providing dedicated half-bath space.
Located in Brooklyn under R4 zoning, the property sits on a 0.0413-acre lot and totals 992 square feet.
The layout is designed around a bright, sun-filled first floor, with the primary suite providing dedicated half-bath space.
Key Highlights
- Detached 1‑family home with 3 bedrooms and 2 bathrooms (no basement)
- Interior includes an open floor plan with a modern island kitchen and Caesar Stone countertops
- Kitchen appliances included: refrigerator, stove, dishwasher
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
$30,285
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
4.53%
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%
$605,700
$605.7K
Cap Rate 7%
$432,643
$432.6K
Cap Rate 9%
$336,500
$336.5K
Market Conditions
NOI Build-Up for 992 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
$56.2K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$55.1K $55.51/SF
− OpEx
−$24.8K −$24.98/SF
NOI
$30.3K $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%
$605,700
Cap Rate 7%
$432,643
Cap Rate 9%
$336,500
Alternative Uses
Best Use
Apartment 5plus
$432.6K
$378.6K – $504.8K
NOI $30,285 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$821.4K
$718.7K – $958.3K
NOI $57,496 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Single family property - Detached one-family home with three bedrooms, two baths, an open first floor, and a private carport with fenced yard.
Where is this single family property located?
The property is located at 35 Melba Court Brooklyn, NY.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Detached 1‑family home with 3 bedrooms and 2 bathrooms (no basement); Interior includes an open floor plan with a modern island kitchen and Caesar Stone countertops; Kitchen appliances included: refrigerator, stove, dishwasher
