Detached Duplex with Finished
For Sale
$1,054,000
3822 Cypress Avenue, Brooklyn, NY 11224
Residential, Brooklyn, NY
Property Size1,807 SF
Lot Size0.09 Acres
Price / SF$583.29
Days on Market60
Property Features for 3822 Cypress Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3
Parking features
Garage - Detached
Patio and Porch features
Patio, Porch
Interior features
Fireplace, Patio Garden, Porch, Stove, Window Treatments
Fireplace
1
Basement
Finished, Full
Subdivision
Seagate
Standard status
Active
Size
1,807 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
6998
Amenities
private beach access
discounted membership to Sea Gate Pool Club
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Athanasia DiMaggio
(718) 532-2000
Added: Jul 1
Changed: Aug 28
Last Checked: Aug 29 at 6:06PM
MLS# 502714
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 detached two-family residence was built in 1925 and contains 1,807 square feet on a 0.0918-acre lot. The first-floor unit includes a dining room with crown molding, living room fireplace, eat-in kitchen, king-sized bedroom, and full bath with Jacuzzi tub and separate shower. The upper residence extends into the attic and provides four bedrooms, two full baths, and an open living and dining area. Its kitchen includes custom wood cabinetry, granite countertops, a breakfast bar, and stainless steel appliances.
A fully finished basement adds a full bath and laundry area. The property also includes a finished detached garage, private driveway parking for 6+ vehicles, paved cobblestone outdoor areas, and a gated perimeter. Located within the guard-gated Sea Gate community, the property offers access to the community's private beach and discounted Sea Gate Pool Club membership. Zoning is R3-1.
A fully finished basement adds a full bath and laundry area. The property also includes a finished detached garage, private driveway parking for 6+ vehicles, paved cobblestone outdoor areas, and a gated perimeter. Located within the guard-gated Sea Gate community, the property offers access to the community's private beach and discounted Sea Gate Pool Club membership. Zoning is R3-1.
Key Highlights
- Detached two‑family home with 1,807 square feet of property size
- 0.0918‑acre lot measuring 40x100
- Finished detached garage and private driveway parking for 6+ vehicles
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
$63,284
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
6.00%
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%
$1,265,680
$1.3M
Cap Rate 7%
$904,057
$904.1K
Cap Rate 9%
$703,156
$703.2K
Market Conditions
NOI Build-Up for 1,807 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
$92.2K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$90.4K $50.03/SF
− OpEx
−$27.1K −$15.01/SF
NOI
$63.3K $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%
$1,265,680
Cap Rate 7%
$904,057
Cap Rate 9%
$703,156
Alternative Uses
Best Use
Multifamily LT 5
$904.1K
$791.1K – $1.05M
NOI $63,284 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$788.1K
$689.6K – $919.4K
NOI $55,166 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $104,734 @ 7.0% cap · market cap 9.94%
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
510
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer flexible living arrangements with private parking and finished lower-level space.
Where is this duplex located?
The property is located at 3822 Cypress Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,054,000.
What are key features of this property?
This property features: Detached two‑family home with 1,807 square feet of property size; 0.0918‑acre lot measuring 40x100; Finished detached garage and private driveway parking for 6+ vehicles
