Duplex with Finished
For Sale
$1,599,999
1685 84th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size2,200 SF
Lot Size0.04 Acres
Price / SF$727.27
Days on Market51
Property Features for 1685 84th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Carport, Garage - Attached
Interior features
A/C Unit - Wall, A/C Unit - Window, Dryer, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,200 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5769
Building Details
Year built
1950
Number of units
2
Flooring type
Carpet, Tile
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Frank J. Bergen
(718) 612-3088
Added: Jun 24
Changed: Aug 4
Last Checked: Aug 13 at 4:06AM
MLS# 502553
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.
This duplex at 1685 84th Street is a fully vacant two-family home with a finished basement and a practical, owner-occupant friendly layout. Each unit features three bedrooms and one full bath. The finished basement adds additional usable space and includes a separate entrance from the backyard on 83rd Street.
The home offers convenient parking with an attached one-car garage and a carport space for an additional vehicle. Interior features include wall and window A/C units, plus washer, dryer, refrigerator, and stove. Flooring includes tile and carpet, and the exterior is brick with a shingle roof.
Set on a 0.0409-acre lot, the property was built in 1950 and is zoned R5. With the building delivered vacant, it provides flexibility for multi-generational living, owner occupancy, or investor use.
The home offers convenient parking with an attached one-car garage and a carport space for an additional vehicle. Interior features include wall and window A/C units, plus washer, dryer, refrigerator, and stove. Flooring includes tile and carpet, and the exterior is brick with a shingle roof.
Set on a 0.0409-acre lot, the property was built in 1950 and is zoned R5. With the building delivered vacant, it provides flexibility for multi-generational living, owner occupancy, or investor use.
Key Highlights
- Fully vacant two‑family duplex
- Each unit offers 3 bedrooms and 1 full bath
- Finished basement with separate entrance from the backyard on 83rd Street
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
Multi-tenant
Tenancy
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 - Brick duplex in R5 zoning, fully vacant and built in 1950, with a finished basement and separate backyard entrance.
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: Fully vacant two‑family duplex; Each unit offers 3 bedrooms and 1 full bath; Finished basement with separate entrance from the backyard on 83rd Street
