Duplex With Built-In
For Sale
$1,899,000
135 Bay 29th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size3,542 SF
Lot Size0.07 Acres
Price / SF$536.14
Days on Market69
Property Features for 135 Bay 29th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
8
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 5, Bedroom 8, Bedroom 3
Parking features
Garage
Patio and Porch features
Deck
Interior features
A/C Unit - Window, Deck, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bath Beach
Standard status
Active
Size
3,542 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
13197
Amenities
rear deck
large backyard
Building Details
Year built
1960
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Added: Jun 19
Changed: Aug 4
Last Checked: Aug 26 at 8:06AM
MLS# 502441
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.
Located at 135 Bay 29th Street in Brooklyn, this R5 zoned, semi-detached two-family brick duplex was built in 1960 and includes a finished basement. The main floors feature spacious 3-bedroom, 1.5-bathroom layouts, each with a separate living room, dining room, and eat-in kitchen. The finished basement adds 2 additional rooms, a full bathroom, and extra recreational space.
Outdoor space includes a rear deck and a large backyard. Parking is supported by a built-in garage and double private driveways, including one private driveway leading to the built-in garage and a second private driveway extending to the rear yard for multiple vehicles.
The home includes window A/C and interior finishes such as hardwood and tile flooring. Recent updates include newer gas boilers and a hot water heater, and the property has a flat roof. A well-maintained configuration with strong in-home functionality and bright, airy rooms throughout.
Outdoor space includes a rear deck and a large backyard. Parking is supported by a built-in garage and double private driveways, including one private driveway leading to the built-in garage and a second private driveway extending to the rear yard for multiple vehicles.
The home includes window A/C and interior finishes such as hardwood and tile flooring. Recent updates include newer gas boilers and a hot water heater, and the property has a flat roof. A well-maintained configuration with strong in-home functionality and bright, airy rooms throughout.
Key Highlights
- Lot size 0.0688 acres
- Approx 23'57' building size on a 31'97' lot
- Finished basement with 2 extra rooms plus full bathroom
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
$96,607
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
5.09%
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%
$1,932,140
$1.9M
Cap Rate 7%
$1,380,100
$1.4M
Cap Rate 9%
$1,073,411
$1.1M
Market Conditions
NOI Build-Up for 3,542 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
$144.5K $40.80/SF
− Vacancy
−$6.5K −$1.84/SF
EGI
$138.0K $38.96/SF
− OpEx
−$41.4K −$11.69/SF
NOI
$96.6K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,932,140
Cap Rate 7%
$1,380,100
Cap Rate 9%
$1,073,411
Alternative Uses
Best Use
Multifamily LT 5
$1.38M
$1.21M – $1.61M
NOI $96,607 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,582 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,636 @ 7.0% cap · market cap 7.62%
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
3,449
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - R5 zoned semi-detached two-family brick duplex with a finished basement, deck, and built-in garage parking.
Where is this duplex located?
The property is located at 135 Bay 29th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Lot size 0.0688 acres; Approx 23'*57' building size on a 31'*97' lot; Finished basement with 2 extra rooms plus full bathroom
