Renovated Two-Family
For Sale
$1,100,000
38 Corbin Place, Brooklyn, NY 11235
Residential, Brooklyn, NY
Property Size1,877 SF
Lot Size0.06 Acres
Price / SF$586.04
Days on Market294
Property Features for 38 Corbin Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Carport
Interior features
A/C Unit - Wall, Dishwasher, Refrigerator, Stove
Subdivision
Brighton Beach
Standard status
Active
Size
1,877 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9196
Amenities
sunroom
private rear yard
private driveway/carport
laundry area
Building Details
Year built
1940
Floors in Building
1
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(718) 256-4000
Added: Nov 18, 2025
Changed: Sep 7
Last Checked: Sep 7 at 11:06PM
MLS# 497348
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 renovated two-family duplex contains 1,877 square feet across two residential units. The first-floor residence includes a living room, two bedrooms, an updated kitchen, full bathroom, sunroom, laundry access, and a private rear yard. The second-floor unit provides two bedrooms, a living room, dining area, and a newly renovated kitchen. Wall-unit A/C, a dishwasher, refrigerator, stove, hardwood flooring, tile, and brick construction are among the existing features.
The property is located at 38 Corbin Place in Brighton Beach, Brooklyn, near the boardwalk, beaches, shopping, dining, and multiple subway lines. A private driveway and carport add off-street parking, while the 0.0581-acre lot provides additional outdoor space. The property is zoned R6 and was built in 1940.
The property is located at 38 Corbin Place in Brighton Beach, Brooklyn, near the boardwalk, beaches, shopping, dining, and multiple subway lines. A private driveway and carport add off-street parking, while the 0.0581-acre lot provides additional outdoor space. The property is zoned R6 and was built in 1940.
Key Highlights
- Two‑family duplex with 1,877 square feet
- Two‑bedroom unit on each floor
- Private rear yard and laundry access
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
$65,736
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
5.98%
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%
$1,314,720
$1.3M
Cap Rate 7%
$939,086
$939.1K
Cap Rate 9%
$730,400
$730.4K
Market Conditions
NOI Build-Up for 1,877 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
$95.7K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$93.9K $50.03/SF
− OpEx
−$28.2K −$15.01/SF
NOI
$65.7K $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%
$1,314,720
Cap Rate 7%
$939,086
Cap Rate 9%
$730,400
Alternative Uses
Best Use
Multifamily LT 5
$939.1K
$821.7K – $1.10M
NOI $65,736 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$818.6K
$716.3K – $955.1K
NOI $57,303 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,791 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 updated residences offer private outdoor space, laundry access, and off-street parking in Brighton Beach.
Where is this duplex located?
The property is located at 38 Corbin Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑family duplex with 1,877 square feet; Two‑bedroom unit on each floor; Private rear yard and laundry access
