Renovated Two-Family
342 Bay 11th Street, Brooklyn, NY 11228
For Sale
$1,575,000
A separate-entry one-bedroom apartment complements the duplex, with a garage and private parking for three cars.
Property Size1,973 SF
Price / SF$798.28
Days on Market155
Property Features for 342 Bay 11th Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Compass Realty Central Inc
Listed By:
Joseph Fuda
(718) 232-6400
Source:
Poljanproperties
Added: Jun 10
Changed: Nov 3
Last Checked: Nov 10 at 10:00AM
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 Realty Central Inc
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Investment Insights
Based on property information with market context.
This two-family property pairs a six-room duplex with a separate-entry, three-room apartment containing one bedroom. The duplex includes three bedrooms upstairs and a main level with a kitchen, half bath, living and dining areas, and washer/dryer hookups. Sliding doors open to a wraparound deck and a large yard. The 1,973-square-foot building was constructed in 1950 and renovated within the last 1 1/2 years.
Recent work includes new floors with radiant heat and separate thermostats, updated walls and ceilings, Marvin French windows, a skylight with an automatic timer, and a new roof. Mechanical and electrical improvements include two boilers, five AC units, new electrical systems, and a camera security system. The property also has a garage, two private driveways, and parking for three cars.
Recent work includes new floors with radiant heat and separate thermostats, updated walls and ceilings, Marvin French windows, a skylight with an automatic timer, and a new roof. Mechanical and electrical improvements include two boilers, five AC units, new electrical systems, and a camera security system. The property also has a garage, two private driveways, and parking for three cars.
Key Highlights
- Two‑family layout: six‑room duplex plus a separate‑entry, three‑room, one‑bedroom apartment
- 1,973 square feet; built in 1950 and renovated within the last 1 1/2 years
- Three‑bedroom upper floor and main‑level living, dining, and kitchen areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,098
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,381,960
$1.4M
Cap Rate 7%
$987,114
$987.1K
Cap Rate 9%
$767,756
$767.8K
Market Conditions
NOI Build-Up for 1,973 SF
Gross rent
$100.6K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$98.7K $50.03/SF
− OpEx
−$29.6K −$15.01/SF
NOI
$69.1K $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 Rate 5%
$1,381,960
Cap Rate 7%
$987,114
Cap Rate 9%
$767,756
Alternative Uses
Best Use
Multifamily LT 5
$987.1K
$863.7K – $1.15M
NOI $69,098 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$860.5K
$752.9K – $1.00M
NOI $60,234 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$1.63M
$1.43M – $1.91M
NOI $114,355 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
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Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Brooklyn, NY
Properties on Market for Duplexes in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate-entry one-bedroom apartment complements the duplex, with a garage and private parking for three cars.
Where is this duplex located?
The property is located at 342 Bay 11th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Two‑family layout: six‑room duplex plus a separate‑entry, three‑room, one‑bedroom apartment; 1,973 square feet; built in 1950 and renovated within the last 1 1/2 years; Three‑bedroom upper floor and main‑level living, dining, and kitchen areas
