Duplex With Detached
For Sale
$1,699,000
1344 Bay Ridge Parkway, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property Size1,855 SF
Lot Size0.07 Acres
Price / SF$915.90
Days on Market58
Property Features for 1344 Bay Ridge Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Parking features
Garage - Detached
Interior features
A/C Unit - Wall, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Dyker Heights
Standard status
Active
Size
1,855 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
9607
Building Details
Year built
1920
Floors in Building
3
Flooring type
Laminate, Hardwood, Tile
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 12 at 6:06PM
MLS# 502347
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This detached two-family (duplex) home includes an upper unit and a first-floor apartment, each with its own hot water heater. The finished basement features a separate entrance, expanding usable space and access. Built in 1920, the home sits on an oversized 0.0712-acre lot and offers 1,855 square feet of interior space. Interiors are well-maintained and include flooring such as laminate, hardwood, and tile. Wall A/C units plus included stove and refrigerator are part of the property’s interior features.
The upper duplex provides three bedrooms, a large living room, a separate dining room, a newly renovated eat-in kitchen, and a beautifully renovated full bathroom. The first floor offers a spacious two-bedroom apartment. Outside, the property has a private driveway for multiple cars and a detached garage.
The home is convenient to shopping, restaurants, schools, and transportation, supporting a range of end-user and rental use needs.
The upper duplex provides three bedrooms, a large living room, a separate dining room, a newly renovated eat-in kitchen, and a beautifully renovated full bathroom. The first floor offers a spacious two-bedroom apartment. Outside, the property has a private driveway for multiple cars and a detached garage.
The home is convenient to shopping, restaurants, schools, and transportation, supporting a range of end-user and rental use needs.
Key Highlights
- Detached two‑family duplex with 1,855 SF and 0.0712‑acre lot
- Finished basement with separate entrance
- Upper unit: three bedrooms, large living room, separate dining room, newly renovated eat‑in kitchen
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
$64,965
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
3.82%
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%
$1,299,300
$1.3M
Cap Rate 7%
$928,071
$928.1K
Cap Rate 9%
$721,833
$721.8K
Market Conditions
NOI Build-Up for 1,855 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
$94.6K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$92.8K $50.03/SF
− OpEx
−$27.8K −$15.01/SF
NOI
$65.0K $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%
$1,299,300
Cap Rate 7%
$928,071
Cap Rate 9%
$721,833
Alternative Uses
Best Use
Multifamily LT 5
$928.1K
$812.1K – $1.08M
NOI $64,965 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$809.0K
$707.9K – $943.9K
NOI $56,631 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$1.54M
$1.34M – $1.79M
NOI $107,516 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,079
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 - Detached two-family duplex with a finished basement, private driveway, and R4-1 zoning.
Where is this duplex located?
The property is located at 1344 Bay Ridge Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Detached two‑family duplex with 1,855 SF and 0.0712‑acre lot; Finished basement with separate entrance; Upper unit: three bedrooms, large living room, separate dining room, newly renovated eat‑in kitchen
