Up-and-Down Duplex with
For Sale
$730,000
1168 E 38th Street, Brooklyn, NY 11210
Residential, Duplex - Up/Down, Brooklyn, NY
Property Size1,840 SF
Lot Size0.05 Acres
Price / SF$396.74
Days on Market94
Property Features for 1168 E 38th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Interior features
Microwave, Refrigerator, Stove
Basement
Full, Finished
Subdivision
East Flatbush
Standard status
Active
Size
1,840 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6775
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Daniel Gamil · License #10301211175
(718) 313-0214
Added: Jun 8
Changed: Sep 6
Last Checked: Sep 9 at 11:06PM
MLS# 501961
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 1925 brick duplex contains 1,840 square feet with a three-bedroom upper residence over a two-bedroom first-floor unit. A finished basement, interior vestibule and shared hallway support separate interior access to each dwelling and the lower level. The basement also connects to the rear yard. Interior features include hardwood and tile flooring, a microwave, refrigerator and stove, with oil heat serving the property.
The property is in Brooklyn’s Flatlands area near Flatbush Avenue, Avenue K, Kings Highway, Brooklyn College, Kings Plaza and Marine Park. Nearby transportation includes B41, B9 and B82/B82-SBS bus service, along with the 2/5 trains at Flatbush Avenue-Brooklyn College and B/Q trains at Kings Highway. The second-floor owner’s bedroom is to be delivered vacant, while other areas have limited access because of current occupants. The sale is strictly as-is, with buyers expected to complete due diligence under restricted showing, inspection and appraisal access.
The property is in Brooklyn’s Flatlands area near Flatbush Avenue, Avenue K, Kings Highway, Brooklyn College, Kings Plaza and Marine Park. Nearby transportation includes B41, B9 and B82/B82-SBS bus service, along with the 2/5 trains at Flatbush Avenue-Brooklyn College and B/Q trains at Kings Highway. The second-floor owner’s bedroom is to be delivered vacant, while other areas have limited access because of current occupants. The sale is strictly as-is, with buyers expected to complete due diligence under restricted showing, inspection and appraisal access.
Key Highlights
- Duplex with 3‑bedroom upper unit over a 2‑bedroom first‑floor unit
- 1,840 square feet on a 0.0459‑acre lot
- Finished basement with rear‑yard access and separate interior entry points
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
$64,440
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
8.83%
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%
$1,288,800
$1.3M
Cap Rate 7%
$920,571
$920.6K
Cap Rate 9%
$716,000
$716.0K
Market Conditions
NOI Build-Up for 1,840 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
$93.8K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$92.1K $50.03/SF
− OpEx
−$27.6K −$15.01/SF
NOI
$64.4K $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%
$1,288,800
Cap Rate 7%
$920,571
Cap Rate 9%
$716,000
Alternative Uses
Best Use
Multifamily LT 5
$920.6K
$805.5K – $1.07M
NOI $64,440 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$802.5K
$702.2K – $936.2K
NOI $56,173 @ 7.0% cap · market cap 7.69%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,646 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout with separate interior entries and rear-yard access from the basement.
Where is this duplex located?
The property is located at 1168 E 38th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Duplex with 3‑bedroom upper unit over a 2‑bedroom first‑floor unit; 1,840 square feet on a 0.0459‑acre lot; Finished basement with rear‑yard access and separate interior entry points
