Detached Two-Family
For Sale
$2,588,000
266 83rd St, Brooklyn, NY 11209
1901-built residence offers finished lower-level space, private parking, balconies, and a detached oversized garage.
Property Size3,250 SF
Lot Size0.11 Acres
Price / SF$796.31
Days on Market9
Property Features for 266 83rd St
General Information
Standard status
Active
Size
3,250 SF
Lot size
0.11 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$17,511
Amenities
private driveway
detached garage
backyard
finished basement
front balcony
back balcony
Building Details
Building Size
3,250 SF
Year Built
1901
Buildings
1
Stories
3
Listing Agency:
Ben Bay Realty - Bay Ridge
(718) 238-6080
Listed By:
Charles A. Fabbella
(718) 238-6080
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 12 at 7:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ben Bay Realty - Bay Ridge
Investment Insights
Based on property information with market context.
This fully detached duplex contains 3,250 square feet of living area on a 50 x 100 lot, with a 25 x 50 building footprint. The property includes two residential units, hardwood flooring, abundant closet space, and a fully finished basement. The primary residence occupies two full-sized floors and includes a front balcony, while the second unit offers two bedrooms, spacious rooms, and a rear balcony.
A wide private driveway leads to an extra-large detached garage capable of accommodating a Winnebago. The property also features a large backyard. Located at 266 83rd St in Brooklyn, the home has a Walk Score of 96, Transit Score of 91, and Bike Score of 81.
A wide private driveway leads to an extra-large detached garage capable of accommodating a Winnebago. The property also features a large backyard. Located at 266 83rd St in Brooklyn, the home has a Walk Score of 96, Transit Score of 91, and Bike Score of 81.
Key Highlights
- Fully detached two‑family residence built in 1901
- 3,250 SF of living area on a 50 x 100 lot
- Two full‑sized floors serve the primary residence
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
$113,821
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
4.40%
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%
$2,276,420
$2.3M
Cap Rate 7%
$1,626,014
$1.6M
Cap Rate 9%
$1,264,678
$1.3M
Market Conditions
NOI Build-Up for 3,250 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
$165.8K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$162.6K $50.03/SF
− OpEx
−$48.8K −$15.01/SF
NOI
$113.8K $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%
$2,276,420
Cap Rate 7%
$1,626,014
Cap Rate 9%
$1,264,678
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.42M – $1.90M
NOI $113,821 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,219 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.14M
NOI $188,370 @ 7.0% cap · market cap 7.28%
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
4,591
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
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Frequently Asked Questions
What type of property is this?
Duplex - 1901-built residence offers finished lower-level space, private parking, balconies, and a detached oversized garage.
Where is this duplex located?
The property is located at 266 83rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,588,000.
What are key features of this property?
This property features: Fully detached two‑family residence built in 1901; 3,250 SF of living area on a 50 x 100 lot; Two full‑sized floors serve the primary residence
