Renovated Two-Family
For Sale
$1,250,000
Pending
1346 85th Street, Brooklyn, NY 11228
Updated residential income property with two units, private outdoor areas, and an attached garage.
Property Size1,771 SF
Days on Market509
Property Features for 1346 85th Street
General Information
Standard status
Pending
Size
1,771 SF
Total Parking Spaces
1
Property subtype
Multi Family
Additional Details
Furnished
No
Multifamily Units
2
Amenities
backyard
front yard
Building Details
Buildings
1
Listing Agency:
Compass Greater New York, LLC
Listed By:
Athena Salavantis · License #10301218981
(718) 921-0500
Source:
Exitrealty
Added: Apr 18, 2025
Changed: Sep 2
Last Checked: Sep 7 at 5:12AM
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 Compass Greater New York, LLC
Investment Insights
Based on property information with market context.
This renovated duplex at 1346 85th Street provides a two-unit residential layout with flexible occupancy options. Each unit connects directly to the backyard, while the property also includes a front planting area and an attached garage with interior access. Interior improvements include stainless-steel appliances, a kitchen island, and marble-tile bathroom finishes with rain showers.
The property is located in Dyker Heights, a South Brooklyn neighborhood known for Dyker Park, seasonal holiday displays, food markets, restaurants, boutique shopping, and schools. Dyker Park offers golf, tennis, soccer, walking areas, and family recreation. The location also provides proximity to Manhattan.
The property is located in Dyker Heights, a South Brooklyn neighborhood known for Dyker Park, seasonal holiday displays, food markets, restaurants, boutique shopping, and schools. Dyker Park offers golf, tennis, soccer, walking areas, and family recreation. The location also provides proximity to Manhattan.
Key Highlights
- Renovated two‑family duplex with flexible owner‑occupancy or extended‑family use
- Direct backyard access from each unit
- Attached garage with interior access
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
$62,023
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
4.96%
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%
$1,240,460
$1.2M
Cap Rate 7%
$886,043
$886.0K
Cap Rate 9%
$689,144
$689.1K
Market Conditions
NOI Build-Up for 1,771 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
$90.3K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$88.6K $50.03/SF
− OpEx
−$26.6K −$15.01/SF
NOI
$62.0K $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%
$1,240,460
Cap Rate 7%
$886,043
Cap Rate 9%
$689,144
Alternative Uses
Best Use
Multifamily LT 5
$886.0K
$775.3K – $1.03M
NOI $62,023 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$772.4K
$675.8K – $901.1K
NOI $54,067 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$1.47M
$1.28M – $1.71M
NOI $102,647 @ 7.0% cap · market cap 8.21%
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
2,148
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 - Updated residential income property with two units, private outdoor areas, and an attached garage.
Where is this duplex located?
The property is located at 1346 85th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Renovated two‑family duplex with flexible owner‑occupancy or extended‑family use; Direct backyard access from each unit; Attached garage with interior access
