Two-Family Home with
For Sale
$1,180,000
320 42nd Street, Brooklyn, NY 11232
Two-family residence with a finished basement and private backyard, positioned between 3rd and 4th Avenues.
Property Size1,372 SF
Price / SF$860.06
Days on Market39
Property Features for 320 42nd Street
General Information
Standard status
Active
Size
1,372 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,209
Building Details
Building Size
1,372 SF
Year Built
1899
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Kevin Lam · License #KL3175
Source:
Penrealty
Added: Jul 17
Changed: Aug 23
Last Checked: Aug 22 at 10:13AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This two-family home in Sunset Park features a first-floor duplex with a finished basement and a private backyard. The layout supports flexible everyday living, whether the plan is to reside in the home or operate it as a residential income property.
Located between 3rd and 4th Avenues, the property offers convenient transit access. It is minutes from Manhattan via the N and D express trains, and also near the R local train at 36th Street. The home is moments from Sunset Park, Bush Terminal Park, and the waterfront, with Industry City and shopping and dining along 4th and 5th Avenues nearby. A bus stop and a grocery store are also described as nearby.
Located between 3rd and 4th Avenues, the property offers convenient transit access. It is minutes from Manhattan via the N and D express trains, and also near the R local train at 36th Street. The home is moments from Sunset Park, Bush Terminal Park, and the waterfront, with Industry City and shopping and dining along 4th and 5th Avenues nearby. A bus stop and a grocery store are also described as nearby.
Key Highlights
- Two‑family home built in 1899 in Sunset Park
- Sits on a full 17' × 100' lot with a private backyard
- First‑floor duplex plus finished basement
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
$48,050
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
4.07%
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%
$961,000
$961.0K
Cap Rate 7%
$686,429
$686.4K
Cap Rate 9%
$533,889
$533.9K
Market Conditions
NOI Build-Up for 1,372 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
$70.0K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$68.6K $50.03/SF
− OpEx
−$20.6K −$15.01/SF
NOI
$48.0K $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%
$961,000
Cap Rate 7%
$686,429
Cap Rate 9%
$533,889
Alternative Uses
Best Use
Multifamily LT 5
$686.4K
$600.6K – $800.8K
NOI $48,050 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$598.4K
$523.6K – $698.1K
NOI $41,886 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$1.14M
$994.0K – $1.33M
NOI $79,521 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,714
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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 - Two-family residence with a finished basement and private backyard, positioned between 3rd and 4th Avenues.
Where is this duplex located?
The property is located at 320 42nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Two‑family home built in 1899 in Sunset Park; Sits on a full 17' × 100' lot with a private backyard; First‑floor duplex plus finished basement
