Two-Family Duplex with Central
For Sale
$1,599,000
3173 Shore Parkway, Brooklyn, NY 11235
MULTI_FAMILY - Brooklyn, NY
Property Size2,232 SF
Lot Size0.15 Acres
Price / SF$716.40
Days on Market106
Property Features for 3173 Shore Parkway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
8
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 7, Bathroom 4, Bedroom 4, Bedroom 2, Bedroom 3
Interior features
Central Air
Basement
Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,232 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
16917
Amenities
above-ground pool
pool house
barbecue area
Building Details
Year built
2018
Number of units
2
Flooring type
Laminate
Building materials
Brick
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Leonid Sklyar · License #SKL439
(718) 612-3088
Added: Apr 30
Changed: Aug 12
Last Checked: Aug 13 at 8:06AM
MLS# 501018
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.
Fully detached two-family duplex with central air and brick construction, built in 2018. The property includes two spacious apartments, each with four bedrooms and two bathrooms, offering flexible living or rental arrangements. Interior systems and durability features include steel support beams between floors, a fire sprinkler system, a tankless water heater, and efficient split-system heating and cooling.
Set on a rare double lot, the home provides an outdoor setup designed for everyday use and entertaining. The oversized lot includes a large private driveway with parking for multiple vehicles, landscaped grounds, an above-ground pool with a pool house, and a dedicated barbecue area.
With its two-unit layout and modern building components paired with substantial outdoor amenities on a double-lot setting, this duplex is well suited for buyers looking for a straightforward two-family configuration.
Set on a rare double lot, the home provides an outdoor setup designed for everyday use and entertaining. The oversized lot includes a large private driveway with parking for multiple vehicles, landscaped grounds, an above-ground pool with a pool house, and a dedicated barbecue area.
With its two-unit layout and modern building components paired with substantial outdoor amenities on a double-lot setting, this duplex is well suited for buyers looking for a straightforward two-family configuration.
Key Highlights
- Built in 2018 brick duplex with steel support beams between floors
- Two apartments: each has 4 bedrooms and 2 bathrooms
- Lot totals approximately 6,400 square feet on a rare double lot
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
$78,168
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
4.89%
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%
$1,563,360
$1.6M
Cap Rate 7%
$1,116,686
$1.1M
Cap Rate 9%
$868,533
$868.5K
Market Conditions
NOI Build-Up for 2,232 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
$113.8K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$111.7K $50.03/SF
− OpEx
−$33.5K −$15.01/SF
NOI
$78.2K $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%
$1,563,360
Cap Rate 7%
$1,116,686
Cap Rate 9%
$868,533
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$977.1K – $1.30M
NOI $78,168 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$973.4K
$851.8K – $1.14M
NOI $68,141 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,367 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
6,157
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Modern two-family duplex with central air and two four-bedroom units on an oversized private lot.
Where is this duplex located?
The property is located at 3173 Shore Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Built in 2018 brick duplex with steel support beams between floors; Two apartments: each has 4 bedrooms and 2 bathrooms; Lot totals approximately 6,400 square feet on a rare double lot
