Duplex with Finished
For Sale
$730,000
1168 E 38th Street, Brooklyn, NY 11210
MULTI_FAMILY - Brooklyn, NY
Property Size1,840 SF
Lot Size0.05 Acres
Price / SF$396.74
Days on Market79
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
Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Interior features
Microwave, Refrigerator, Stove
Basement
Finished, Full
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) 612-3088
Added: Jun 8
Changed: Aug 4
Last Checked: Aug 25 at 10:06PM
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 duplex includes a 3-bedroom-over-2-bedroom layout with a finished basement and an interior vestibule/common hallway. Interior access points allow entry to the first-floor unit, second-floor unit, and basement, and the basement provides access to the rear yard. The property is being sold as-is, with limited access due to non-cooperative occupants, including no access to the first-floor unit and limited access to portions of the second-floor bedrooms. Interior finishes and appliances listed include microwave, refrigerator, and stove, with tile and hardwood flooring.
The building is brick construction with a shingle roof and was built in 1925. The property sits on a 0.0459-acre lot and is zoned R4.
Heating is oil heat. Interior access and basement connectivity may support owner-occupancy on either level, subject to tenancy status and buyer due diligence.
The building is brick construction with a shingle roof and was built in 1925. The property sits on a 0.0459-acre lot and is zoned R4.
Heating is oil heat. Interior access and basement connectivity may support owner-occupancy on either level, subject to tenancy status and buyer due diligence.
Key Highlights
- 3‑bedroom over 2‑bedroom duplex with finished basement and rear yard access
- Interior access points to first‑floor unit, second‑floor unit, and basement
- Zoned R4 on a 0.0459‑acre lot
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Duplex with a finished basement, oil heat, brick construction, and R4 zoning on a small Brooklyn lot.
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: 3‑bedroom over 2‑bedroom duplex with finished basement and rear yard access; Interior access points to first‑floor unit, second‑floor unit, and basement; Zoned R4 on a 0.0459‑acre lot
