Spacious Dyker Heights Two-Family
For Sale
$2,800,000
Pending
1016 84th St, Brooklyn, NY 11228
Large two-family brick home in prime Dyker Heights location.
Property Size3,200 SF
Lot Size0.14 Acres
Days on Market133
Property Features for 1016 84th St
General Information
Standard status
Pending
Size
3,200 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Building Details
Year Built
1899
Listing Agency:
Neuhaus Realty, Inc.
Listed By:
Gaetano Marasa · License #10301215761
(732) 946-2911
Source:
Statenislandhomelistings
Added: Apr 30
Changed: Sep 8
Last Checked: Sep 8 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Neuhaus Realty, Inc.
Investment Insights
Based on property information with market context.
Located in Dyker Heights, this large, two-family, all-brick home is situated on a 60x100 lot. The property features an oversized driveway that can accommodate six cars, along with a detached two-car garage. Currently used as a one-family home, the first floor includes an entry foyer, formal dining room, a bedroom/sunroom, an eat-in kitchen, a formal living room with a wood-burning fireplace, a full bath, a screened-in back porch, and steps to the yard. The second floor features a large primary bedroom, three additional bedrooms, a full bath, and steps up to the third level, which has two additional bedrooms. One of the second-floor bedrooms was originally the kitchen for the second unit and can be easily converted back; this room also has a balcony. The full finished basement includes a large summer kitchenette, a full living room, a dining area, a utility room, a wine cellar, 10 ft ceilings, and a separate side entry to the yard. The property is close to transportation, schools, and Dyker Park. It is suitable for a multi-generational family or investors.
Key Highlights
- Large 60x100 lot with oversized driveway for 6 cars and a detached 2‑car garage.
- Potential for multi‑generational living or investment property with easy conversion back to a 2‑family home.
- Full finished basement with summer kitchenette, living room, dining area, wine cellar, 10 ft ceilings, and separate entrance.
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
$112,069
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
4.00%
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%
$2,241,380
$2.2M
Cap Rate 7%
$1,600,986
$1.6M
Cap Rate 9%
$1,245,211
$1.2M
Market Conditions
NOI Build-Up for 3,200 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
$163.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$160.1K $50.03/SF
− OpEx
−$48.0K −$15.01/SF
NOI
$112.1K $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%
$2,241,380
Cap Rate 7%
$1,600,986
Cap Rate 9%
$1,245,211
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.87M
NOI $112,069 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,693 @ 7.0% cap · market cap 3.49%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,923
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 - Large two-family brick home in prime Dyker Heights location.
Where is this duplex located?
The property is located at 1016 84th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Large 60x100 lot with oversized driveway for 6 cars and a detached 2‑car garage.; Potential for multi‑generational living or investment property with easy conversion back to a 2‑family home.; Full finished basement with summer kitchenette, living room, dining area, wine cellar, 10 ft ceilings, and separate entrance.
