Vacant Two-Family
For Sale
$1,599,999
1685 84th Street, Brooklyn, NY 11214
Three-bedroom units, finished basement, private rear entry, garage, and carport support flexible residential use.
Property Size2,200 SF
Days on Market68
Property Features for 1685 84th Street
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R5
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
finished basement
separate entrance
Building Details
Building Size
2,200 SF
Year Built
1950
Buildings
1
Listing Agency:
Re/Max Edge
(718) 612-3088
Listed By:
Frank J. Bergen
(718) 612-3088
Source:
Excellchoicerealty
Added: Jun 24
Changed: Aug 29
Last Checked: Aug 25 at 9:16AM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
This 1950-built duplex contains two residential units, each arranged with 3 bedrooms and 1 full bath. The finished basement adds usable interior space and has its own entrance from the backyard on 83rd Street. Parking includes a built-in 1-car garage and a carport for another vehicle. The property will be delivered fully vacant, supporting owner occupancy, rental use, or multigenerational living.
Located at 1685 84th St in Bensonhurst, the property is near shopping, schools, public transportation, and neighborhood amenities. WalkScore is 96, BikeScore is 56, and TransitScore is 84, reflecting strong pedestrian access, bikeability, and transit connectivity.
Located at 1685 84th St in Bensonhurst, the property is near shopping, schools, public transportation, and neighborhood amenities. WalkScore is 96, BikeScore is 56, and TransitScore is 84, reflecting strong pedestrian access, bikeability, and transit connectivity.
Key Highlights
- Two residential units, each with 3 bedrooms and 1 full bath
- Finished basement with a separate backyard entrance on 83rd Street
- Built‑in 1‑car garage plus carport parking for an additional vehicle
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
$60,005
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
3.75%
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%
$1,200,100
$1.2M
Cap Rate 7%
$857,214
$857.2K
Cap Rate 9%
$666,722
$666.7K
Market Conditions
NOI Build-Up for 2,200 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
$89.8K $40.80/SF
− Vacancy
−$4.0K −$1.84/SF
EGI
$85.7K $38.96/SF
− OpEx
−$25.7K −$11.69/SF
NOI
$60.0K $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%
$1,200,100
Cap Rate 7%
$857,214
Cap Rate 9%
$666,722
Alternative Uses
Best Use
Multifamily LT 5
$857.2K
$750.1K – $1.00M
NOI $60,005 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$768.3K
$672.2K – $896.3K
NOI $53,778 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,836 @ 7.0% cap · market cap 5.61%
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
3,872
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 - Three-bedroom units, finished basement, private rear entry, garage, and carport support flexible residential use.
Where is this duplex located?
The property is located at 1685 84th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 1 full bath; Finished basement with a separate backyard entrance on 83rd Street; Built‑in 1‑car garage plus carport parking for an additional vehicle
