Duplex with Detached
For Sale
$1,949,000
2144 Bay Ridge Parkway, Brooklyn, NY 11204
Residential, Brooklyn, NY
Property Size2,480 SF
Lot Size0.06 Acres
Price / SF$785.89
Days on Market11
Property Features for 2144 Bay Ridge Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
7
Bathrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 7, Bedroom 2, Bedroom 6, Bathroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,480 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
11261
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Laminate
Building materials
Wood Frame
Listing Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
John Koulouroudis · License #JAK0147
(718) 680-6442
Added: Sep 21
Changed: Sep 23
Last Checked: Oct 1 at 3:06PM
MLS# 504790
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 1920-built duplex contains 2,480 square feet on a 0.0572-acre lot. The first residence includes three bedrooms, 1 3/4 baths, and access to a finished basement through both the interior and a separate entrance. The basement is outside the current lease arrangement and can support additional living or storage use. The upper residence provides four bedrooms and 1 3/4 baths. Tile, hardwood, and laminate flooring are installed throughout, with a refrigerator and stove included.
A shared driveway leads to a detached two-car garage, providing off-street parking. Both apartments are occupied on month-to-month arrangements. The property is zoned R5 and sits near Bay Parkway-area shopping, dining, bus service, and connections to the D, N, and W subway lines.
A shared driveway leads to a detached two-car garage, providing off-street parking. Both apartments are occupied on month-to-month arrangements. The property is zoned R5 and sits near Bay Parkway-area shopping, dining, bus service, and connections to the D, N, and W subway lines.
Key Highlights
- Two‑family property with 2,480 square feet
- First unit offers 3 bedrooms and 1 3/4 baths
- Second unit includes 4 bedrooms and 1 3/4 baths
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
$86,854
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
4.46%
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%
$1,737,080
$1.7M
Cap Rate 7%
$1,240,771
$1.2M
Cap Rate 9%
$965,044
$965.0K
Market Conditions
NOI Build-Up for 2,480 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
$126.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$124.1K $50.03/SF
− OpEx
−$37.2K −$15.01/SF
NOI
$86.9K $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%
$1,737,080
Cap Rate 7%
$1,240,771
Cap Rate 9%
$965,044
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,854 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$1.08M
$946.4K – $1.26M
NOI $75,712 @ 7.0% cap · market cap 3.88%
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,741 @ 7.0% cap · market cap 7.38%
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
Location Intelligence
Trade Area within ½ mile
4,723
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 residential units combine flexible occupancy with off-street parking and a finished basement.
Where is this duplex located?
The property is located at 2144 Bay Ridge Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: Two‑family property with 2,480 square feet; First unit offers 3 bedrooms and 1 3/4 baths; Second unit includes 4 bedrooms and 1 3/4 baths
