Renovated Two-Family
For Sale
$1,298,000
Pending
320 Marion Street, Brooklyn, NY 11233
Updated two-unit residence with separate decks/patio and rear parking for owner-occupants or rental buyers.
Property Size2,564 SF
Days on Market120
Property Features for 320 Marion Street
General Information
Standard status
Pending
Size
2,564 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,962
Amenities
Wall/Window Unit(s)
Natural Gas
Crown Molding, Eat-in Kitchen, Entrance Foyer, Granite Counters, High Ceilings, Kitchen Island, Open Floorplan
Common, On Street, Other
Colonial
Building Details
Building Size
2,564 SF
Year Built
1997
Tenancy
Multi
Listing Agency:
Keller Williams Realty Landmark
Listed By:
Dean Graber MRP SFR · License #10401228160
(516) 527-9549
Source:
Evrealestate
Added: May 13
Changed: Sep 2
Last Checked: Sep 9 at 6:30AM
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 Keller Williams Realty Landmark
Investment Insights
Based on property information with market context.
This renovated two-family home is presented in “diamond condition” and is arranged as an owner’s duplex plus a second finished unit. The upper level of the owner’s duplex offers three bedrooms and one full bathroom, while the main level includes an open-concept chef’s kitchen with a center island, granite countertops, and high-end stainless steel appliances, along with a foyer, half bathroom, dining room, generously sized living room, laundry room, and a boiler room. Features include crown molding, hardwood flooring throughout, recessed lighting, and tile flooring in the kitchen. The second unit is finished to a similar standard and includes two bedrooms, one full bathroom, a living room, and a dining area. The upper unit includes a private deck, and the lower unit includes a patio area, with rear parking adding convenience.
The property is located in the Ocean Hill section of Bedford-Stuyvesant on a tree-lined block surrounded by classic brownstones, renovated homes, and new development. It offers convenient access to neighborhood shopping, restaurants, parks, schools, and local services. Public transit access is described as near the J/Z/A/C subway lines, with convenient access to Broadway Junction, Downtown Brooklyn, and Manhattan, as well as major roadways.
For buyers seeking a well-finished multi-family configuration, the layout supports separate living spaces with deck and patio outdoor areas, along with rear parking. The two distinct units provide flexibility for owner-occupancy and rental use, while the interior upgrades and cohesive finishes can appeal to tenants who value turn-key presentation.
The property is located in the Ocean Hill section of Bedford-Stuyvesant on a tree-lined block surrounded by classic brownstones, renovated homes, and new development. It offers convenient access to neighborhood shopping, restaurants, parks, schools, and local services. Public transit access is described as near the J/Z/A/C subway lines, with convenient access to Broadway Junction, Downtown Brooklyn, and Manhattan, as well as major roadways.
For buyers seeking a well-finished multi-family configuration, the layout supports separate living spaces with deck and patio outdoor areas, along with rear parking. The two distinct units provide flexibility for owner-occupancy and rental use, while the interior upgrades and cohesive finishes can appeal to tenants who value turn-key presentation.
Key Highlights
- Two‑unit residence built in 1997 in the Ocean Hill/Bedford‑Stuyvesant area
- Owner’s duplex: 3 bedrooms and 1 full bathroom on the upper level
- Main level includes an open‑concept chef’s kitchen with center island, granite countertops, and stainless steel appliances
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
$89,796
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
6.92%
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%
$1,795,920
$1.8M
Cap Rate 7%
$1,282,800
$1.3M
Cap Rate 9%
$997,733
$997.7K
Market Conditions
NOI Build-Up for 2,564 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
$130.8K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$128.3K $50.03/SF
− OpEx
−$38.5K −$15.01/SF
NOI
$89.8K $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%
$1,795,920
Cap Rate 7%
$1,282,800
Cap Rate 9%
$997,733
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.50M
NOI $89,796 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$1.12M
$978.5K – $1.30M
NOI $78,276 @ 7.0% cap · market cap 6.03%
Theoretical Best
Specialty Retail
$2.12M
$1.86M – $2.48M
NOI $148,609 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit residence with separate decks/patio and rear parking for owner-occupants or rental buyers.
Where is this duplex located?
The property is located at 320 Marion Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Two‑unit residence built in 1997 in the Ocean Hill/Bedford‑Stuyvesant area; Owner’s duplex: 3 bedrooms and 1 full bathroom on the upper level; Main level includes an open‑concept chef’s kitchen with center island, granite countertops, and stainless steel appliances
