Renovated Duplex with Above-Ground
New
For Sale
$1,125,000
37 Montauk Avenue, Brooklyn, NY 11208
Renovated duplex with a finished basement, split-unit climate systems, and private outdoor entertaining space.
Property Size2,124 SF
Days on Market4
Property Features for 37 Montauk Avenue
General Information
Standard status
Active
Size
2,124 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,367
Amenities
above-ground pool
outdoor entertaining space
Building Details
Building Size
2,124 SF
Year Built
1910
Buildings
1
Units
2
Listing Agency:
City Homes Realty Group LLC
(718) 255-9888
Listed By:
Segundo F. Agudo CBR E-PRO
(718) 255-9888
Source:
Cohenandcohenrealty
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 3:26AM
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 City Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This renovated two-family duplex at 37 Montauk Avenue features 8 bedrooms, a finished basement, and split-unit systems for climate control. The property also includes a backyard with an above-ground pool and space for outdoor gatherings. Built in 1910, the home offers a layout that can support multigenerational living, owner occupancy with rental income potential, or an addition to an investment portfolio.
The Brooklyn property is served by the A, C, J, Z, and L subway lines, with access to major highways also noted. Highland and Forest Park are nearby, providing walking trails, playgrounds, and other outdoor recreation. The combination of two-family configuration, substantial bedroom count, basement space, and outdoor amenities creates a flexible residential income property.
The Brooklyn property is served by the A, C, J, Z, and L subway lines, with access to major highways also noted. Highland and Forest Park are nearby, providing walking trails, playgrounds, and other outdoor recreation. The combination of two-family configuration, substantial bedroom count, basement space, and outdoor amenities creates a flexible residential income property.
Key Highlights
- 8‑bedroom, two‑family duplex configuration
- Finished basement included
- Above‑ground pool and outdoor entertaining area
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
$54,524
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
4.85%
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%
$1,090,480
$1.1M
Cap Rate 7%
$778,914
$778.9K
Cap Rate 9%
$605,822
$605.8K
Market Conditions
NOI Build-Up for 2,124 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
$81.6K $38.40/SF
− Vacancy
−$3.7K −$1.73/SF
EGI
$77.9K $36.67/SF
− OpEx
−$23.4K −$11.00/SF
NOI
$54.5K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,090,480
Cap Rate 7%
$778,914
Cap Rate 9%
$605,822
Alternative Uses
Best Use
Multifamily LT 5
$778.9K
$681.6K – $908.7K
NOI $54,524 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$693.6K
$606.9K – $809.2K
NOI $48,549 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,974 @ 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
Highway access
Location Intelligence
Trade Area within ½ mile
3,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 - Renovated duplex with a finished basement, split-unit climate systems, and private outdoor entertaining space.
Where is this duplex located?
The property is located at 37 Montauk Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 8‑bedroom, two‑family duplex configuration; Finished basement included; Above‑ground pool and outdoor entertaining area
