Two-Family Brick
For Sale
$1,348,000
Pending
1170 Bay Ridge Ave, Brooklyn, NY 11219
Two residential units with a private garage, parking, outdoor space, and separate living areas in a brick building.
Property Size1,940 SF
Days on Market108
Property Features for 1170 Bay Ridge Ave
General Information
Standard status
Pending
Size
1,940 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,561
Building Details
Building Size
1,940 SF
Year Built
1945
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Elliman
Added: May 9
Changed: Aug 12
Last Checked: Aug 24 at 9:00AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This two-family brick residence includes a private garage plus additional parking space. The first level features a one-bedroom apartment with direct access to a private backyard, covered parking, and outdoor space. The second floor offers a bright and airy three-bedroom layout with a separate living room and kitchen, along with abundant windows for natural light. Outdoor living is supported by a front balcony and a rear porch.
The property is located in Dyker Heights and is within walking distance to local shopping, supermarkets, restaurants, and daily conveniences, including 13th Ave. Commuting is supported by easy access to the N and D subway lines.
The building’s two distinct residential layouts provide separate living spaces, with multiple outdoor areas and convenient parking for occupants.
The property is located in Dyker Heights and is within walking distance to local shopping, supermarkets, restaurants, and daily conveniences, including 13th Ave. Commuting is supported by easy access to the N and D subway lines.
The building’s two distinct residential layouts provide separate living spaces, with multiple outdoor areas and convenient parking for occupants.
Key Highlights
- Two‑family brick home built in 1945 in Dyker Heights
- Private garage plus additional parking space for off‑street convenience
- First level: 1‑bedroom apartment with direct access to a private backyard and outdoor space
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
$56,026
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
4.16%
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%
$1,120,520
$1.1M
Cap Rate 7%
$800,371
$800.4K
Cap Rate 9%
$622,511
$622.5K
Market Conditions
NOI Build-Up for 1,940 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
$83.8K $43.20/SF
− Vacancy
−$3.8K −$1.94/SF
EGI
$80.0K $41.26/SF
− OpEx
−$24.0K −$12.38/SF
NOI
$56.0K $28.88/SF
Area
ZIP 11219
Vacancy
4.50%
Lease Rate
$43.20 /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%
$1,120,520
Cap Rate 7%
$800,371
Cap Rate 9%
$622,511
Alternative Uses
Best Use
Multifamily LT 5
$800.4K
$700.3K – $933.8K
NOI $56,026 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$718.5K
$628.7K – $838.2K
NOI $50,292 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,036 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,829
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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 - Two residential units with a private garage, parking, outdoor space, and separate living areas in a brick building.
Where is this duplex located?
The property is located at 1170 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,348,000.
What are key features of this property?
This property features: Two‑family brick home built in 1945 in Dyker Heights; Private garage plus additional parking space for off‑street convenience; First level: 1‑bedroom apartment with direct access to a private backyard and outdoor space
