Brick Two-Unit Duplex with
For Sale
$1,499,900
243 Bay 35th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size3,168 SF
Lot Size0.07 Acres
Price / SF$473.45
Days on Market46
Property Features for 243 Bay 35th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 7, Bedroom 8, Bathroom 1, Bathroom 2, Bathroom 6, Bathroom 5, Bedroom 3, Bedroom 4, Bathroom 4
Parking features
Garage
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Bath Beach
Standard status
Active
Size
3,168 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
12681
Building Details
Year built
1965
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang
(917) 708-9966
Added: Jul 10
Changed: Aug 4
Last Checked: Aug 24 at 3:06AM
MLS# 502947
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 legal two-family semi-detached brick duplex offers flexible living arrangements across a three-story layout with a finished basement. The first floor features two bedrooms and one full bath. The second and third floors each offer three bedrooms and 1.5 baths. Interior features include window A/C, a refrigerator, and a stove. The home includes tiled and hardwood flooring, and parking is available with a built-in garage. The roof is approximately two years old, and the property will be delivered fully vacant at closing.
Set on a 30' x 100' lot, the building is described as approximately 21.5' x 57', with a total property size of 3,168 square feet. Zoned R5, the home is located in Bath Beach, with convenient access to the 86th Street shopping district and PS 101 Elementary School. Public transportation, restaurants, parks, and neighborhood amenities are also nearby.
Set on a 30' x 100' lot, the building is described as approximately 21.5' x 57', with a total property size of 3,168 square feet. Zoned R5, the home is located in Bath Beach, with convenient access to the 86th Street shopping district and PS 101 Elementary School. Public transportation, restaurants, parks, and neighborhood amenities are also nearby.
Key Highlights
- Legal 2‑family semi‑detached brick duplex with finished basement
- 30' x 100' lot with approx. 21.5' x 57' building
- Zoned R5
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
$86,407
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
5.76%
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%
$1,728,140
$1.7M
Cap Rate 7%
$1,234,386
$1.2M
Cap Rate 9%
$960,078
$960.1K
Market Conditions
NOI Build-Up for 3,168 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
$129.3K $40.80/SF
− Vacancy
−$5.8K −$1.84/SF
EGI
$123.4K $38.96/SF
− OpEx
−$37.0K −$11.69/SF
NOI
$86.4K $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%
$1,728,140
Cap Rate 7%
$1,234,386
Cap Rate 9%
$960,078
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,407 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$1.11M
$968.0K – $1.29M
NOI $77,440 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,364 @ 7.0% cap · market cap 8.62%
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
2,059
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family semi-detached brick duplex with private driveway, built-in garage, and a finished basement in an R5 zone.
Where is this duplex located?
The property is located at 243 Bay 35th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Legal 2‑family semi‑detached brick duplex with finished basement; 30' x 100' lot with approx. 21.5' x 57' building; Zoned R5
