Duplex with Rooftop
New
For Sale
$3,390,000
371 84th Street, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size3,360 SF
Lot Size0.06 Acres
Price / SF$1,008
Days on Market3
Property Features for 371 84th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1
Parking features
Garage - Detached
Interior features
A/C Unit, Alarm, Central Air - Split, Dishwasher, Dryer, Fireplace, Garage Door Opener(s), Laundry Area, Microwave, Refrigerator, Stove, Terrace, Washer, Window Treatments
Fireplace
1
Basement
Finished, Full
Subdivision
Bay Ridge
Standard status
Active
Size
3,360 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
14563
Amenities
rooftop deck
hot tub
balcony
private balcony
multi-sided fireplace
chef's kitchen
granite countertops
walk-in pantry
radiant-heated lower level
kitchenette
central air conditioning
radiant-heated flooring
smart home system
whole-house sound system
CCTV security
generator ready
central vacuum system
in-unit laundry
hardwood flooring
crown molding
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood, Ceramic
Building materials
Brick
Roof type
Flat
Listing Agency:
Kirin Real Estate LLC
Listed By:
Allen Z. Luo · License #10491214007
(929) 460-0008
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 3:06PM
MLS# 504933
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 four-story, two-family duplex at 371 84th Street in Brooklyn contains 3,360 square feet and sits on a 0.0574-acre lot. The upper residence spans three levels and includes a rooftop deck, a private balcony, a fireplace, and a dedicated laundry area. The garden residence has three bedrooms, 2.5 baths, a walk-in pantry, a kitchenette, and a lower level with radiant-heated flooring.
Brick construction dates to 1920, and the property is zoned R4-1. Both residences have in-unit laundry. Additional features include central air conditioning, hardwood flooring, CCTV security, a whole-house sound system, and a detached garage.
Brick construction dates to 1920, and the property is zoned R4-1. Both residences have in-unit laundry. Additional features include central air conditioning, hardwood flooring, CCTV security, a whole-house sound system, and a detached garage.
Key Highlights
- Two‑family, four‑story property with 3,360 square feet
- 0.0574‑acre lot zoned R4‑1
- Upper residence includes a rooftop deck and private balcony
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
$117,673
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
3.47%
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%
$2,353,460
$2.4M
Cap Rate 7%
$1,681,043
$1.7M
Cap Rate 9%
$1,307,478
$1.3M
Market Conditions
NOI Build-Up for 3,360 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
$171.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$168.1K $50.03/SF
− OpEx
−$50.4K −$15.01/SF
NOI
$117.7K $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%
$2,353,460
Cap Rate 7%
$1,681,043
Cap Rate 9%
$1,307,478
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,673 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$1.47M
$1.28M – $1.71M
NOI $102,577 @ 7.0% cap · market cap 3.03%
Theoretical Best
Specialty Retail
$2.78M
$2.43M – $3.25M
NOI $194,746 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,776
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
Check the figures for this property
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 - Two residences combine multi-level living areas with private outdoor spaces and in-unit laundry.
Where is this duplex located?
The property is located at 371 84th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,390,000.
What are key features of this property?
This property features: Two‑family, four‑story property with 3,360 square feet; 0.0574‑acre lot zoned R4‑1; Upper residence includes a rooftop deck and private balcony
