Two-Family Property with
For Sale
$1,599,000
228 Bay 8th Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,807 SF
Lot Size0.04 Acres
Price / SF$569.65
Days on Market53
Property Features for 228 Bay 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
7
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 7, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2
Parking features
Garage - Attached
Subdivision
Dyker Heights
Standard status
Active
Size
2,807 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
10839
Building Details
Floors in Building
2
Flooring type
Ceramic, Hardwood
Building materials
Block
Roof type
Asphalt, Flat
Buildings
1
Listing Agency:
RE/MAX Elite
Listed By:
Joseph Madaio, CRS, GRI · License #6.28E+13
(718) 690-3900
Added: Sep 15
Changed: Nov 5
Last Checked: Nov 6 at 5:06AM
MLS# 504443
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.
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Investment Insights
Based on property information with market context.
This duplex property contains 2,807 square feet with two residential units arranged as a three-bedroom residence over a two-bedroom residence. Additional features include a basement, an attached one-car garage, a private driveway, and a rear yard. Ceramic and hardwood flooring are present, with three bathrooms serving the property.
The 0.0444-acre property is located at 228 Bay 8th Street in Brooklyn, NY 11228. R4 zoning applies. The surrounding area includes Dyker Beach Park and Golf Course, public transportation, express bus service to Manhattan, shopping, schools, parks, and other neighborhood conveniences.
The configuration supports use as a two-family residence, with room counts of 5 1/2 rooms in each unit and practical storage, parking, and outdoor space on site.
The 0.0444-acre property is located at 228 Bay 8th Street in Brooklyn, NY 11228. R4 zoning applies. The surrounding area includes Dyker Beach Park and Golf Course, public transportation, express bus service to Manhattan, shopping, schools, parks, and other neighborhood conveniences.
The configuration supports use as a two-family residence, with room counts of 5 1/2 rooms in each unit and practical storage, parking, and outdoor space on site.
Key Highlights
- Two‑family duplex with 2,807 square feet of building area
- Three‑bedroom unit over a two‑bedroom unit
- Attached one‑car garage and private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,306
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,966,120
$2.0M
Cap Rate 7%
$1,404,371
$1.4M
Cap Rate 9%
$1,092,289
$1.1M
Market Conditions
NOI Build-Up for 2,807 SF
Gross rent
$143.2K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$140.4K $50.03/SF
− OpEx
−$42.1K −$15.01/SF
NOI
$98.3K $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 Rate 5%
$1,966,120
Cap Rate 7%
$1,404,371
Cap Rate 9%
$1,092,289
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,306 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,695 @ 7.0% cap · market cap 5.36%
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,694 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,577
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include three-bedroom and two-bedroom layouts, along with basement space and private off-street parking.
Where is this duplex located?
The property is located at 228 Bay 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Two‑family duplex with 2,807 square feet of building area; Three‑bedroom unit over a two‑bedroom unit; Attached one‑car garage and private driveway
