Renovated Brick Duplex
For Sale
$1,288,000
307 Bay 8th Street, Brooklyn, NY 11228
Residential, Duplex, Brooklyn, NY
Property Size1,640 SF
Lot Size0.03 Acres
Price / SF$785.37
Days on Market9
Property Features for 307 Bay 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1
Interior features
A/C Unit, Refrigerator, Stove
Basement
Finished
Subdivision
Bath Beach
Standard status
Active
Size
1,640 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
9794
Building Details
Year built
1925
Floors in Building
3
Flooring type
Laminate, Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Shaojie (Jayden) Liang · License #SL6230
(718) 210-2727
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 8:06PM
MLS# 503799
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 1,640-square-foot brick duplex was built in 1925 on a 15-by-97-foot lot with a 15-by-43-foot building footprint. The first- and second-floor residence includes a living room, dining room, kitchen, full bathroom, and two bedrooms. A separate third-floor unit provides one bedroom, living space, and a bathroom. The finished basement adds another bathroom, boiler area, and open space. Recent improvements include a kitchen, flooring, roof, and two independent heating and hot water systems. The property also includes a flat roof, laminate, hardwood, and tile flooring, plus a refrigerator, stove, and A/C unit.
R4 zoning and a community driveway with two-car parking add practical value to the configuration. The property is located near Dyker Beach Park, P.S. 229, and the retail and dining corridor along 86th Street. D train service and multiple bus routes provide access through Brooklyn and to Manhattan.
R4 zoning and a community driveway with two-car parking add practical value to the configuration. The property is located near Dyker Beach Park, P.S. 229, and the retail and dining corridor along 86th Street. D train service and multiple bus routes provide access through Brooklyn and to Manhattan.
Key Highlights
- 1,640 SF brick duplex on a 0.0331‑acre lot
- Two‑bedroom main duplex plus separate one‑bedroom third‑floor unit
- Fully finished basement with bathroom, boiler area, and open space
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
$57,436
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
4.46%
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%
$1,148,720
$1.1M
Cap Rate 7%
$820,514
$820.5K
Cap Rate 9%
$638,178
$638.2K
Market Conditions
NOI Build-Up for 1,640 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
$83.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$82.1K $50.03/SF
− OpEx
−$24.6K −$15.01/SF
NOI
$57.4K $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%
$1,148,720
Cap Rate 7%
$820,514
Cap Rate 9%
$638,178
Alternative Uses
Best Use
Multifamily LT 5
$820.5K
$718.0K – $957.3K
NOI $57,436 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$715.2K
$625.8K – $834.5K
NOI $50,067 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 7.38%
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
1,312
Businesses Nearby
Explore this area
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
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 - Renovated two-family home with finished basement, separate systems, and community driveway parking.
Where is this duplex located?
The property is located at 307 Bay 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: 1,640 SF brick duplex on a 0.0331‑acre lot; Two‑bedroom main duplex plus separate one‑bedroom third‑floor unit; Fully finished basement with bathroom, boiler area, and open space
