Detached Duplex with
For Sale
$2,499,000
266 83rd Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size3,250 SF
Lot Size0.11 Acres
Price / SF$768.92
Days on Market60
Property Features for 266 83rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 4, Bathroom 5, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 3
Parking features
Garage - Detached
Interior features
Central Air
Basement
Finished, Full
Subdivision
Bay Ridge
Standard status
Active
Size
3,250 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
17511
Amenities
private driveway
detached garage
large backyard
hardwood floors
finished basement
front balcony
back balcony
Building Details
Year built
1901
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
Wood Frame
Listing Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
Charles A. Fabbella
(917) 453-0053
Added: Aug 3
Changed: Sep 23
Last Checked: Oct 1 at 3:06PM
MLS# 503478
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 fully detached duplex contains 3,250 square feet of living space on a 0.1148-acre lot measuring 50 x 100 feet. The 25 x 50-foot wood-frame home was built in 1901 and includes hardwood flooring, central air, a finished basement, multiple closets, and balcony space. A detached garage, private driveway, and large backyard add functional outdoor and parking improvements.
The property is located at 266 83rd Street in Brooklyn’s Bay Ridge area, within ZIP Code 11209. The first family occupies two full-sized floors and has access to a front balcony, while the second family includes two bedrooms, generously sized rooms, and a rear balcony. The property is zoned R2.
The property is located at 266 83rd Street in Brooklyn’s Bay Ridge area, within ZIP Code 11209. The first family occupies two full-sized floors and has access to a front balcony, while the second family includes two bedrooms, generously sized rooms, and a rear balcony. The property is zoned R2.
Key Highlights
- 3,250 square feet of living space on a 0.1148‑acre lot
- 50 x 100‑foot lot with a 25 x 50‑foot home
- Fully detached two‑family property built in 1901
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
4.55%
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 4.55%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,219 @ 7.0% cap · market cap 3.97%
Theoretical Best
Specialty Retail
$2.69M
$2.35M – $3.14M
NOI $188,370 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with a finished basement, private driveway, balconies, and a rear yard.
Where is this duplex located?
The property is located at 266 83rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 3,250 square feet of living space on a 0.1148‑acre lot; 50 x 100‑foot lot with a 25 x 50‑foot home; Fully detached two‑family property built in 1901
