Detached Duplex with Two-Car
For Sale
$1,880,000
32 87th Street, Brooklyn, NY 11209
Residential, Duplex, Brooklyn, NY
Property Size2,415 SF
Lot Size0.09 Acres
Price / SF$778.47
Days on Market91
Property Features for 32 87th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-1
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 2
Interior features
Dishwasher, Dryer, Fireplace, Laundry Area, Microwave, Refrigerator, Stove, Washer
Fireplace
1
Basement
Finished
Subdivision
Bay Ridge
Standard status
Active
Size
2,415 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
14594
Amenities
gas fireplace
fenced backyard
Tesla charger
laundry area
Building Details
Year built
1920
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Ping Chen
(917) 536-3632
Added: Jun 4
Changed: Aug 31
Last Checked: Sep 2 at 9:06AM
MLS# 501982
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 detached duplex offers approximately 2,415 square feet of interior space, along with an additional 826-square-foot basement. The residence includes three bedrooms, multiple bathrooms, a living room with a gas fireplace, a formal dining room, and a sunlit flexible-use room. The eat-in kitchen features tiled flooring, while the lower level provides laundry space, storage, a three-quarter bathroom, and finished open area. Hardwood and tile flooring are present, and the home was built in 1920.
The property occupies a 0.0918-acre corner lot with a fenced backyard, private driveway, and detached two-car garage. The garage is equipped with a Tesla charger. Additional features include a dishwasher, refrigerator, stove, microwave, washer, and dryer. R3-1 zoning applies. The address is near Shore Road's waterfront promenade, parks, shopping, dining, and transportation.
The property occupies a 0.0918-acre corner lot with a fenced backyard, private driveway, and detached two-car garage. The garage is equipped with a Tesla charger. Additional features include a dishwasher, refrigerator, stove, microwave, washer, and dryer. R3-1 zoning applies. The address is near Shore Road's waterfront promenade, parks, shopping, dining, and transportation.
Key Highlights
- Approximately 2,415 SF of interior space plus an 826‑square‑foot basement
- 0.0918‑acre corner lot with a fenced backyard
- Detached two‑car garage equipped with a Tesla charger
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
$84,577
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
4.50%
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%
$1,691,540
$1.7M
Cap Rate 7%
$1,208,243
$1.2M
Cap Rate 9%
$939,744
$939.7K
Market Conditions
NOI Build-Up for 2,415 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
$123.2K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.8K $50.03/SF
− OpEx
−$36.2K −$15.01/SF
NOI
$84.6K $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%
$1,691,540
Cap Rate 7%
$1,208,243
Cap Rate 9%
$939,744
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,577 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$1.05M
$921.6K – $1.23M
NOI $73,727 @ 7.0% cap · market cap 3.92%
Theoretical Best
Specialty Retail
$2.00M
$1.75M – $2.33M
NOI $139,973 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,613
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 - The property includes a fenced backyard, private driveway, and Tesla-equipped garage.
Where is this duplex located?
The property is located at 32 87th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: Approximately 2,415 SF of interior space plus an 826‑square‑foot basement; 0.0918‑acre corner lot with a fenced backyard; Detached two‑car garage equipped with a Tesla charger
