Duplex with Attached
For Sale
$1,888,000
244 92nd St, Brooklyn, NY 11209
Two-family property with a private driveway, recreational room, and backyard in Brooklyn’s Bay Ridge area.
Property Size3,160 SF
Days on Market16
Property Features for 244 92nd St
General Information
Standard status
Active
Size
3,160 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,642
Building Details
Building Size
3,160 SF
Year Built
1965
Listing Agency:
Ben Bay Realty - Bay Ridge
(718) 238-6080
Listed By:
Charles A. Fabbella
(718) 238-6080
Source:
Elliman
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 31 at 4:48PM
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 Ben Bay Realty - Bay Ridge
Investment Insights
Based on property information with market context.
This duplex is configured as a two-family residence with 3,160 living sq ft on a 20 x 100 lot. The 20 x 56 home includes a recreational room, one-car attached garage, private driveway, hardwood floors throughout, and a backyard. A new Navien hot water on demand system is also installed.
Located at 244 92nd St in Brooklyn, the property carries R4-1 zoning and was built in 1965. The surrounding area records a 97 walk score, 86 transit score, and 82 bike score, reflecting convenient access to walking, public transportation, and bicycle travel.
Located at 244 92nd St in Brooklyn, the property carries R4-1 zoning and was built in 1965. The surrounding area records a 97 walk score, 86 transit score, and 82 bike score, reflecting convenient access to walking, public transportation, and bicycle travel.
Key Highlights
- Two‑family duplex with 3,160 living sq ft
- 20 x 100 lot with a 20 x 56 home
- One‑car attached garage and private driveway
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
$110,669
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
5.86%
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%
$2,213,380
$2.2M
Cap Rate 7%
$1,580,986
$1.6M
Cap Rate 9%
$1,229,656
$1.2M
Market Conditions
NOI Build-Up for 3,160 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
$161.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$158.1K $50.03/SF
− OpEx
−$47.4K −$15.01/SF
NOI
$110.7K $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%
$2,213,380
Cap Rate 7%
$1,580,986
Cap Rate 9%
$1,229,656
Alternative Uses
Best Use
Multifamily LT 5
$1.58M
$1.38M – $1.84M
NOI $110,669 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,472 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$2.62M
$2.29M – $3.05M
NOI $183,154 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,920
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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 property with a private driveway, recreational room, and backyard in Brooklyn’s Bay Ridge area.
Where is this duplex located?
The property is located at 244 92nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Two‑family duplex with 3,160 living sq ft; 20 x 100 lot with a 20 x 56 home; One‑car attached garage and private driveway
