Detached Three-Family
New
For Sale
$899,000
3819 Cypress Ave, Brooklyn, NY 11224
Gated Seagate property includes two short-term occupied apartments and a vacant two-bedroom upper-level unit.
Property Size2,293 SF
Days on Market7
Property Features for 3819 Cypress Ave
General Information
Standard status
Active
Size
2,293 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,645
Building Details
Building Size
2,293 SF
Year Built
1930
Stories
2
Listing Agency:
RE/MAX Edge
(718) 612-3088
Listed By:
Leonid Sklyar · License #SKL439
(718) 612-3088
Source:
Elliman
Added: Aug 20
Changed: Aug 25
Last Checked: Aug 25 at 10:08AM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
This fully detached three-family residence at 3819 Cypress Ave includes three apartments, with two currently occupied by short-term tenants. The vacant top-floor apartment has two bedrooms, providing flexibility for a future occupant or rental arrangement. The property was built in 1930 and is located within Seagate, a gated community in Brooklyn.
The residence is situated moments from a private beach and offers access to a coastal residential setting. Transportation metrics include a BikeScore of 67 and a TransitScore of 88. The property combines an existing three-apartment configuration with two occupied units and a vacant upper-level residence.
The residence is situated moments from a private beach and offers access to a coastal residential setting. Transportation metrics include a BikeScore of 67 and a TransitScore of 88. The property combines an existing three-apartment configuration with two occupied units and a vacant upper-level residence.
Key Highlights
- Detached three‑family residence with three apartments
- Two apartments currently occupied by short‑term tenants
- Vacant top‑floor apartment with 2 bedrooms
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
$80,305
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
8.93%
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%
$1,606,100
$1.6M
Cap Rate 7%
$1,147,214
$1.1M
Cap Rate 9%
$892,278
$892.3K
Market Conditions
NOI Build-Up for 2,293 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
$116.9K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$114.7K $50.03/SF
− OpEx
−$34.4K −$15.01/SF
NOI
$80.3K $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%
$1,606,100
Cap Rate 7%
$1,147,214
Cap Rate 9%
$892,278
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,305 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$1.00M
$875.0K – $1.17M
NOI $70,003 @ 7.0% cap · market cap 7.79%
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.22M
NOI $132,902 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Gated Seagate property includes two short-term occupied apartments and a vacant two-bedroom upper-level unit.
Where is this triplex located?
The property is located at 3819 Cypress Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Detached three‑family residence with three apartments; Two apartments currently occupied by short‑term tenants; Vacant top‑floor apartment with 2 bedrooms
