Detached Three-Family Residential
For Sale
$1,980,000
1536 Bath Ave, Brooklyn, NY 11228
Fully detached three-family home with three apartments, a finished basement, private driveway, and large backyard.
Property Size3,720 SF
Price / SF$532.26
Days on Market48
Property Features for 1536 Bath Ave
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,102
Building Details
Building Size
3,720 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Ashford Homes LLC
Listed By:
Kawing Chiu · License #10301208208
(929) 364-1301
Source:
Elliman
Added: Jul 20
Changed: Aug 14
Last Checked: Sep 4 at 1:38PM
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 Ashford Homes LLC
Investment Insights
Based on property information with market context.
This fully detached three-family residence offers approximately 3,720 square feet of living space and includes three spacious apartments, along with a full finished basement. The property also features a private driveway and a large backyard.
Located in Brooklyn’s Dyker Heights area near shopping, restaurants, schools, parks, and public transportation, with bikeScore of 59 (Bikeable), walkScore of 85 (Very Walkable), and transitScore of 73 (Excellent Transit). Access to major highways is also noted.
The layout is designed to support three separate apartments within one building, complemented by the additional finished basement space and outdoor areas for day-to-day use.
Located in Brooklyn’s Dyker Heights area near shopping, restaurants, schools, parks, and public transportation, with bikeScore of 59 (Bikeable), walkScore of 85 (Very Walkable), and transitScore of 73 (Excellent Transit). Access to major highways is also noted.
The layout is designed to support three separate apartments within one building, complemented by the additional finished basement space and outdoor areas for day-to-day use.
Key Highlights
- Fully detached three‑family home built in 1920 in Brooklyn’s Dyker Heights neighborhood
- Approximately 3,720 sq ft of living space with three spacious apartments
- Full finished basement adds additional usable space
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
$130,281
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
6.58%
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%
$2,605,620
$2.6M
Cap Rate 7%
$1,861,157
$1.9M
Cap Rate 9%
$1,447,567
$1.4M
Market Conditions
NOI Build-Up for 3,720 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
$189.7K $51.00/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$186.1K $50.03/SF
− OpEx
−$55.8K −$15.01/SF
NOI
$130.3K $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%
$2,605,620
Cap Rate 7%
$1,861,157
Cap Rate 9%
$1,447,567
Alternative Uses
Best Use
Multifamily LT 5
$1.86M
$1.63M – $2.17M
NOI $130,281 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,568 @ 7.0% cap · market cap 5.74%
Theoretical Best
Specialty Retail
$3.08M
$2.70M – $3.59M
NOI $215,611 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,781
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?
Triplex - Fully detached three-family home with three apartments, a finished basement, private driveway, and large backyard.
Where is this triplex located?
The property is located at 1536 Bath Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: Fully detached three‑family home built in 1920 in Brooklyn’s Dyker Heights neighborhood; Approximately 3,720 sq ft of living space with three spacious apartments; Full finished basement adds additional usable space
