Detached Three-Family
For Sale
$1,980,000
1536 Bath Ave, Brooklyn, NY 11228
Well-maintained multifamily property with a finished basement, driveway, and backyard in Dyker Heights.
Property Size3,720 SF
Price / SF$532.26
Days on Market124
Property Features for 1536 Bath Ave
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Amenities
private driveway
backyard
finished basement
Building Details
Year Built
1920
Buildings
1
Construction
Detached
Listing Agency:
Ashford Homes LLC
Listed By:
Kawing Chiu · License #10301208208
(929) 364-1301
Source:
Statenislandhomelistings
Added: May 24
Changed: Sep 19
Last Checked: Sep 24 at 10:57AM
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 multifamily property contains three apartments within approximately 3,720 square feet of living space. Built in 1920, the building is described as well maintained and includes a full finished basement, private driveway, and large backyard.
The property is located on Bath Ave in Brooklyn's Dyker Heights neighborhood, near shopping, restaurants, schools, parks, public transportation, and major highways. Its three-apartment configuration and additional finished space provide a clearly defined residential income property layout.
The property is located on Bath Ave in Brooklyn's Dyker Heights neighborhood, near shopping, restaurants, schools, parks, public transportation, and major highways. Its three-apartment configuration and additional finished space provide a clearly defined residential income property layout.
Key Highlights
- Three apartments in a fully detached building
- Approximately 3,720 square feet of living space
- Full finished basement
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
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Open Analytics
Current Use
Lease Details
3
Residential units
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
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?
Triplex - Well-maintained multifamily property with a finished basement, driveway, and backyard in Dyker Heights.
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: Three apartments in a fully detached building; Approximately 3,720 square feet of living space; Full finished basement
