Brick Duplex with Attached
New
For Sale
$1,888,000
244 92nd Street, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property Size3,160 SF
Lot Size0.05 Acres
Price / SF$597.47
Days on Market7
Property Features for 244 92nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bedroom 7, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 3, Bedroom 6, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 4
Subdivision
Bay Ridge
Standard status
Active
Size
3,160 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
12642
Amenities
backyard
Building Details
Year built
1965
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
Charles A. Fabbella
(718) 238-6080
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 22 at 6:06PM
MLS# 503834
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 brick duplex offers a two-family configuration within a 3,160-square-foot residence built in 1965. The home sits on a 20 x 100 lot and measures 20 x 56, with hardwood flooring, five bathrooms, seven bedrooms, a flat roof, and a 1-car attached garage. A private driveway and backyard provide additional site features, while a new Navien hot water on demand system serves the property.
Located at 244 92nd Street in Brooklyn, the property is identified within the 11209 postal area and carries R4-1 zoning. Its residential layout, attached parking, and separate outdoor areas support continued multifamily use.
Located at 244 92nd Street in Brooklyn, the property is identified within the 11209 postal area and carries R4-1 zoning. Its residential layout, attached parking, and separate outdoor areas support continued multifamily use.
Key Highlights
- Two‑family duplex with 3,160 Square Feet of living area
- 20 x 100 lot with a 20 x 56 home
- 1‑car attached garage, private driveway, and backyard
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
$110,669
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
5.86%
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%
$2,213,380
$2.2M
Cap Rate 7%
$1,580,986
$1.6M
Cap Rate 9%
$1,229,656
$1.2M
Market Conditions
NOI Build-Up for 3,160 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
$161.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$158.1K $50.03/SF
− OpEx
−$47.4K −$15.01/SF
NOI
$110.7K $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%
$2,213,380
Cap Rate 7%
$1,580,986
Cap Rate 9%
$1,229,656
Alternative Uses
Best Use
Multifamily LT 5
$1.58M
$1.38M – $1.84M
NOI $110,669 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,472 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$2.62M
$2.29M – $3.05M
NOI $183,154 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,692
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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 - Two-family property with hardwood interiors, a private driveway, and outdoor space in Brooklyn.
Where is this duplex located?
The property is located at 244 92nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Two‑family duplex with 3,160 Square Feet of living area; 20 x 100 lot with a 20 x 56 home; 1‑car attached garage, private driveway, and backyard
