Two-Family Semi-Detached
For Sale
$1,400,000
Pending
17 Bay 8th St, Brooklyn, NY 11228
Immaculate two-family brick home with separate basement entrance, hardwood and tile floors, and two-car off-street parking.
Property Size2,160 SF
Days on Market102
Property Features for 17 Bay 8th St
General Information
Standard status
Pending
Size
2,160 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,261
Building Details
Building Size
2,160 SF
Year Built
1930
Stories
2
Listing Agency:
Momentum Real Estate LLC
Listed By:
Kevin Lam · License #KL3175
(718) 382-0001
Source:
Elliman
Added: Jun 3
Changed: Aug 28
Last Checked: Sep 11 at 10:03AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This immaculate brick, two-family, semi-detached property offers two separate three-bedroom apartments, with hardwood and tile flooring throughout. In addition to the unit spaces, the home includes a fully finished basement with its own separate entrance and a half bath. Outside, there is a back yard and a shared drive that provides parking for up to two cars.
The property is set in Dyker Heights and offers convenient access to local destinations along 13th Ave. and New Utrecht Ave. Nearby schools include P.S. 112, P.S. 204, P.S. 229, and I.S. 201. Recreational options mentioned include the Lt. Joseph Petrosino Playground, Patrick O’Rourke Playground, and Dyker Beach Golf Course. Transportation access is described as immediate to the B4, B1, B64, and X28 buses, with the 79th St. D Train Station also listed.
For buyers seeking a well-maintained residential income property, the two separate three-bedroom layouts can support straightforward owner-occupant or rental scenarios. The basement’s separate entrance and half bath add flexibility to how the lower level can be used, while the dedicated parking accommodates everyday needs for occupants.
The property is set in Dyker Heights and offers convenient access to local destinations along 13th Ave. and New Utrecht Ave. Nearby schools include P.S. 112, P.S. 204, P.S. 229, and I.S. 201. Recreational options mentioned include the Lt. Joseph Petrosino Playground, Patrick O’Rourke Playground, and Dyker Beach Golf Course. Transportation access is described as immediate to the B4, B1, B64, and X28 buses, with the 79th St. D Train Station also listed.
For buyers seeking a well-maintained residential income property, the two separate three-bedroom layouts can support straightforward owner-occupant or rental scenarios. The basement’s separate entrance and half bath add flexibility to how the lower level can be used, while the dedicated parking accommodates everyday needs for occupants.
Key Highlights
- Two‑family brick home built in 1930 in Dyker Heights
- Two 3‑bedroom apartments: three bedrooms on the first floor and three bedrooms on the second floor
- Fully finished basement with a separate entrance and a half bath
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
$75,647
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
5.40%
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%
$1,512,940
$1.5M
Cap Rate 7%
$1,080,671
$1.1M
Cap Rate 9%
$840,522
$840.5K
Market Conditions
NOI Build-Up for 2,160 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
$110.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$108.1K $50.03/SF
− OpEx
−$32.4K −$15.01/SF
NOI
$75.6K $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%
$1,512,940
Cap Rate 7%
$1,080,671
Cap Rate 9%
$840,522
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.6K – $1.26M
NOI $75,647 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 4.71%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,747
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
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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 - Immaculate two-family brick home with separate basement entrance, hardwood and tile floors, and two-car off-street parking.
Where is this duplex located?
The property is located at 17 Bay 8th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑family brick home built in 1930 in Dyker Heights; Two 3‑bedroom apartments: three bedrooms on the first floor and three bedrooms on the second floor; Fully finished basement with a separate entrance and a half bath
