Two-Family Duplex with Finished
New
For Sale
$1,550,000
13 Bay 38th St, Brooklyn, NY 11214
Well-maintained residential property with separate living areas, a private driveway, and flexible lower-level space.
Property Size2,420 SF
Days on Market2
Property Features for 13 Bay 38th St
General Information
Standard status
Active
Size
2,420 SF
Property subtype
Multi Family
Units
Unit Mix
2BR/1BA, 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,771
Building Details
Building Size
2,420 SF
Year Built
1925
Stories
3
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 6:30AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 13 Bay 38th St includes two residential units arranged across the first and second floors. The first-floor unit has 2 bedrooms and 1 full bathroom, while the second-floor unit provides 3 bedrooms and 1 full bathroom, along with access to a private attic area. A fully finished basement includes an additional bathroom, and the property also features a private driveway. Built in 1925, the home is located in Bath Beach near 86th Street’s shops, restaurants, supermarkets, and daily services. Transit options include the D train at 25th Avenue and B1 and B4 bus service. The property has a walk score of 83, a transit score of 88, and a bike score of 67.
Key Highlights
- Two‑family layout with 2‑bedroom and 3‑bedroom units
- First‑floor unit includes 1 full bathroom; second‑floor unit includes 1 full bathroom
- Fully finished basement with an additional bathroom
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
$66,005
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
4.26%
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%
$1,320,100
$1.3M
Cap Rate 7%
$942,929
$942.9K
Cap Rate 9%
$733,389
$733.4K
Market Conditions
NOI Build-Up for 2,420 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
$98.7K $40.80/SF
− Vacancy
−$4.4K −$1.84/SF
EGI
$94.3K $38.96/SF
− OpEx
−$28.3K −$11.69/SF
NOI
$66.0K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,320,100
Cap Rate 7%
$942,929
Cap Rate 9%
$733,389
Alternative Uses
Best Use
Multifamily LT 5
$942.9K
$825.1K – $1.10M
NOI $66,005 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$845.1K
$739.4K – $985.9K
NOI $59,155 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,820 @ 7.0% cap · market cap 6.38%
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
1,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - Well-maintained residential property with separate living areas, a private driveway, and flexible lower-level space.
Where is this duplex located?
The property is located at 13 Bay 38th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two‑family layout with 2‑bedroom and 3‑bedroom units; First‑floor unit includes 1 full bathroom; second‑floor unit includes 1 full bathroom; Fully finished basement with an additional bathroom
