Brick Duplex with
New
For Sale
$1,800,000
2129 Bay Ridge Avenue, Brooklyn, NY 11204
Residential, Brooklyn, NY
Property Size2,640 SF
Lot Size0.06 Acres
Price / SF$681.82
Days on Market4
Property Features for 2129 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Garage
Interior features
Dryer, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,640 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4080
Amenities
recreation room
laundry area
backyard
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Rubber
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(646) 937-2188
Added: Sep 6
Changed: Sep 9
Last Checked: Sep 9 at 6:06PM
MLS# 504306
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 2,640-square-foot duplex is a fully brick two-family residence on a 25-by-100-foot lot, with a 20-by-66-foot building footprint. The first unit includes a front sitting area, living and dining spaces, a separate kitchen, two bedrooms, and a full bathroom. Its finished lower level adds a recreation room, bathroom, laundry area, and side access. The upper unit has a private entrance, front living room, sitting area, dining space, separate kitchen, three bedrooms, and a full bathroom.
A 10-foot shared driveway reaches the rear one-car garage and backyard. Separate gas and electric utilities serve the property. Built in 1925, the home has brick construction with insulated exterior cladding, tile and hardwood flooring, a rubber roof, and appliances including a washer, dryer, refrigerator, and stove. The property is at 2129 Bay Ridge Avenue in Brooklyn, near Bay Parkway transportation, banks, supermarkets, restaurants, and daily services.
A 10-foot shared driveway reaches the rear one-car garage and backyard. Separate gas and electric utilities serve the property. Built in 1925, the home has brick construction with insulated exterior cladding, tile and hardwood flooring, a rubber roof, and appliances including a washer, dryer, refrigerator, and stove. The property is at 2129 Bay Ridge Avenue in Brooklyn, near Bay Parkway transportation, banks, supermarkets, restaurants, and daily services.
Key Highlights
- 2,640‑square‑foot duplex on a 0.0574‑acre lot
- 25‑by‑100‑foot lot with a 20‑by‑66‑foot building size
- Two units with separate kitchens; upper unit has a private entrance
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
$92,457
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
5.14%
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%
$1,849,140
$1.8M
Cap Rate 7%
$1,320,814
$1.3M
Cap Rate 9%
$1,027,300
$1.0M
Market Conditions
NOI Build-Up for 2,640 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
$134.6K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$132.1K $50.03/SF
− OpEx
−$39.6K −$15.01/SF
NOI
$92.5K $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%
$1,849,140
Cap Rate 7%
$1,320,814
Cap Rate 9%
$1,027,300
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,457 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,596 @ 7.0% cap · market cap 4.48%
Theoretical Best
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,014 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout offers separate kitchens, private entry, flexible living areas, and additional finished space.
Where is this duplex located?
The property is located at 2129 Bay Ridge Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 2,640‑square‑foot duplex on a 0.0574‑acre lot; 25‑by‑100‑foot lot with a 20‑by‑66‑foot building size; Two units with separate kitchens; upper unit has a private entrance
