Four-Family Brick
New
For Sale
$2,250,000
316 84th Street, Brooklyn, NY 11209
Semi-attached brick housing with four apartments, a detached garage, shared driveway, private balcony, and multiple outdoor areas.
Property Size2,458 SF
Price / SF$915.38
Days on Market4
Property Features for 316 84th Street
General Information
Standard status
Active
Size
2,458 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$18,213
Building Details
Building Size
2,458 SF
Year Built
1926
Listing Agency:
Compass
Listed By:
ATHENA SALAVANTIS · License #10301218981
(917) 992-4905
Source:
Miradorrealestate
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 4 at 9:57AM
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 Compass
Investment Insights
Based on property information with market context.
This semi-attached brick quadplex, built in 1926, contains four free-market apartments arranged across garden, first, and top-floor levels. The layout includes one garden apartment, two first-floor apartments, and an upper-level residence with a private balcony. Two apartments are occupied, while two are scheduled for vacant delivery. Property features include a shared driveway, detached two-car garage, washer and dryer, and multiple outdoor spaces.
The property is located at 316 84th Street in Brooklyn’s Bay Ridge neighborhood, near shopping, dining, parks, schools, and transportation. Its four-apartment configuration supports both continued rental use and owner occupancy, subject to the applicable terms and conditions of the transaction.
The property is located at 316 84th Street in Brooklyn’s Bay Ridge neighborhood, near shopping, dining, parks, schools, and transportation. Its four-apartment configuration supports both continued rental use and owner occupancy, subject to the applicable terms and conditions of the transaction.
Key Highlights
- Four free‑market apartments in a semi‑attached brick building
- Two apartments occupied; two apartments delivered vacant
- Garden‑level, two first‑floor, and top‑floor apartment layout
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
$86,083
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
3.83%
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%
$1,721,660
$1.7M
Cap Rate 7%
$1,229,757
$1.2M
Cap Rate 9%
$956,478
$956.5K
Market Conditions
NOI Build-Up for 2,458 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
$125.4K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$123.0K $50.03/SF
− OpEx
−$36.9K −$15.01/SF
NOI
$86.1K $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%
$1,721,660
Cap Rate 7%
$1,229,757
Cap Rate 9%
$956,478
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.43M
NOI $86,083 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$1.07M
$938.0K – $1.25M
NOI $75,040 @ 7.0% cap · market cap 3.34%
Theoretical Best
Specialty Retail
$2.04M
$1.78M – $2.37M
NOI $142,466 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,776
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?
Quadplex - Semi-attached brick housing with four apartments, a detached garage, shared driveway, private balcony, and multiple outdoor areas.
Where is this quadplex located?
The property is located at 316 84th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Four free‑market apartments in a semi‑attached brick building; Two apartments occupied; two apartments delivered vacant; Garden‑level, two first‑floor, and top‑floor apartment layout
