Renovated Brick
For Sale
$1,288,000
307 Bay 8th St, Brooklyn, NY 11228
Two-family layout includes separate systems, finished basement space, and community-driveway parking.
Property Size1,640 SF
Lot Size0.03 Acres
Days on Market8
Property Features for 307 Bay 8th St
General Information
Standard status
Active
Size
1,640 SF
Total Parking Spaces
2
Lot size
0.03 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,794
Building Details
Building Size
1,640 SF
Year Built
1925
Buildings
1
Stories
3
Construction
brick
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Shaojie (Jayden) Liang · License #SL6230
(718) 210-2727
Source:
Elliman
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 22 at 9:30AM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
This renovated two-family brick property at 307 Bay 8th St includes a duplex across the first and second floors, plus a separate third-floor residence. The main unit has a living room, dining room, kitchen, full bathroom, and two bedrooms. The upper unit provides one bedroom and its own living area. A finished basement adds an open area, full bathroom, and boiler space. Improvements include a new kitchen, flooring, roof, and separate heating and hot water systems.
The property occupies a 15' × 97' lot with a 15' × 43' building and was built in 1925. A community driveway provides two-car parking. The Bath Beach setting offers access to Dyker Beach Park, P.S. 229, 86th Street shopping and dining, the D train, and multiple bus routes. WalkScore is 85, TransitScore is 73, and BikeScore is 59.
The property occupies a 15' × 97' lot with a 15' × 43' building and was built in 1925. A community driveway provides two-car parking. The Bath Beach setting offers access to Dyker Beach Park, P.S. 229, 86th Street shopping and dining, the D train, and multiple bus routes. WalkScore is 85, TransitScore is 73, and BikeScore is 59.
Key Highlights
- Two‑family brick property on a 15' × 97' lot with a 15' × 43' building
- Main duplex spans the first and second floors with two bedrooms
- Third‑floor unit includes one bedroom and separate living 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
$57,436
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
4.46%
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%
$1,148,720
$1.1M
Cap Rate 7%
$820,514
$820.5K
Cap Rate 9%
$638,178
$638.2K
Market Conditions
NOI Build-Up for 1,640 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
$83.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$82.1K $50.03/SF
− OpEx
−$24.6K −$15.01/SF
NOI
$57.4K $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%
$1,148,720
Cap Rate 7%
$820,514
Cap Rate 9%
$638,178
Alternative Uses
Best Use
Multifamily LT 5
$820.5K
$718.0K – $957.3K
NOI $57,436 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$715.2K
$625.8K – $834.5K
NOI $50,067 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 7.38%
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
1,312
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 - Two-family layout includes separate systems, finished basement space, and community-driveway parking.
Where is this duplex located?
The property is located at 307 Bay 8th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Two‑family brick property on a 15' × 97' lot with a 15' × 43' building; Main duplex spans the first and second floors with two bedrooms; Third‑floor unit includes one bedroom and separate living space
