Updated Duplex
New
For Sale
$1,399,000
185 Bay 10th Street, Brooklyn, NY 11228
Two separate apartments have individual boiler systems, hot water tanks, and utilities.
Property Size1,410 SF
Price / SF$992.20
Days on Market4
Property Features for 185 Bay 10th Street
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
Your Home Sold Guaranteed Real
Listed By:
Lavinia Randazzo · License #LR5825
(718) 608-4892
Source:
Remaxedgenyc
Added: Sep 24
Last Checked: Sep 26 at 4:21AM
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 Your Home Sold Guaranteed Real
Investment Insights
Based on property information with market context.
Built in 1915, this detached duplex contains two one-bedroom apartments, each with potential for a second bedroom. Interior features include updated kitchens and bathrooms, hardwood flooring, two split air conditioning units, and a washer and dryer. The first-floor apartment has tile flooring throughout. Separate boiler systems, hot water tanks, and utilities serve the two apartments.
The property includes a backyard with a fire pit area and a storage shed with double-door access. Its Bay 10th Street address is in Brooklyn, with schools, retail, parks, public transportation, and major roadways described as nearby.
The property includes a backyard with a fire pit area and a storage shed with double-door access. Its Bay 10th Street address is in Brooklyn, with schools, retail, parks, public transportation, and major roadways described as nearby.
Key Highlights
- Detached two‑family property built in 1915
- Two one‑bedroom apartments, each with potential for a second bedroom
- Separate boiler systems, hot water tanks, and utilities
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
$49,381
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
3.53%
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%
$987,620
$987.6K
Cap Rate 7%
$705,443
$705.4K
Cap Rate 9%
$548,678
$548.7K
Market Conditions
NOI Build-Up for 1,410 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
$71.9K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.5K $50.03/SF
− OpEx
−$21.2K −$15.01/SF
NOI
$49.4K $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%
$987,620
Cap Rate 7%
$705,443
Cap Rate 9%
$548,678
Alternative Uses
Best Use
Multifamily LT 5
$705.4K
$617.3K – $823.0K
NOI $49,381 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$614.9K
$538.1K – $717.4K
NOI $43,046 @ 7.0% cap · market cap 3.08%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,724 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,948
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments have individual boiler systems, hot water tanks, and utilities.
Where is this duplex located?
The property is located at 185 Bay 10th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Detached two‑family property built in 1915; Two one‑bedroom apartments, each with potential for a second bedroom; Separate boiler systems, hot water tanks, and utilities
