Detached Triplex with
For Sale
$899,000
3819 Cypress Avenue, Brooklyn, NY 11224
Residential, Brooklyn, NY
Property Size2,293 SF
Lot Size0.07 Acres
Price / SF$392.06
Days on Market8
Property Features for 3819 Cypress Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 7
Patio and Porch features
Deck
Interior features
Deck, Refrigerator, Stove
Basement
Full
Subdivision
Seagate
Standard status
Active
Size
2,293 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
9645
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Hardwood
Building materials
Block
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Leonid Sklyar · License #SKL439
(718) 612-3088
Added: Aug 19
Changed: Aug 23
Last Checked: Aug 26 at 10:06AM
MLS# 503928
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 fully detached triplex provides 2,293 square feet of residential space on a 0.0689-acre lot. Built in 1930, the property features block construction, hardwood flooring, a deck, and basic kitchen appliances including a refrigerator and stove. The three-unit layout offers a combination of existing occupancy and available space within one residence.
Two apartments are occupied by short-term tenants, while the top-floor apartment is vacant. The property is located in Seagate, a gated community near a private beach, and carries R3-1 zoning. The address is 3819 Cypress Avenue, Brooklyn, NY 11224.
Two apartments are occupied by short-term tenants, while the top-floor apartment is vacant. The property is located in Seagate, a gated community near a private beach, and carries R3-1 zoning. The address is 3819 Cypress Avenue, Brooklyn, NY 11224.
Key Highlights
- Detached three‑family residence with 2,293 square feet of property size
- 0.0689‑acre lot with a deck
- Two apartments occupied by short‑term tenants
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
$80,305
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
8.93%
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%
$1,606,100
$1.6M
Cap Rate 7%
$1,147,214
$1.1M
Cap Rate 9%
$892,278
$892.3K
Market Conditions
NOI Build-Up for 2,293 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
$116.9K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$114.7K $50.03/SF
− OpEx
−$34.4K −$15.01/SF
NOI
$80.3K $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%
$1,606,100
Cap Rate 7%
$1,147,214
Cap Rate 9%
$892,278
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,305 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$1.00M
$875.0K – $1.17M
NOI $70,003 @ 7.0% cap · market cap 7.79%
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.22M
NOI $132,902 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R3-1 zoning, gated-community access, and proximity to a private beach complement the three-unit residential configuration.
Where is this triplex located?
The property is located at 3819 Cypress Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Detached three‑family residence with 2,293 square feet of property size; 0.0689‑acre lot with a deck; Two apartments occupied by short‑term tenants
