Brick Duplex with Private
New
For Sale
$1,380,000
77 Bay 38th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size3,000 SF
Lot Size0.04 Acres
Price / SF$460
Days on Market3
Property Features for 77 Bay 38th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2
Parking features
Garage
Interior features
Dryer, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
Bath Beach
Standard status
Active
Size
3,000 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6435
Amenities
balconies
private backyard
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Rubber
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 28 at 7:06AM
MLS# 504015
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 3,000-square-foot duplex was built in 1950 with solid brick construction and two separate three-bedroom living arrangements. The lower residence includes a kitchen, dining area, living space, and access to a finished basement with high ceilings, a half bathroom, and a connection to the private backyard. The upper residence features front and rear balconies.
Parking includes a built-in garage and one additional private driveway space, accommodating up to two vehicles. Separate utilities support independent operation between the residences. Interior features include hardwood and tile flooring, along with a refrigerator, stove, washer, and dryer.
The property sits on a 0.0444-acre lot near P.S. 101, the D train at 86th Street, B3 bus service, supermarkets, restaurants, coffee shops, parks, and shopping. The address is 77 Bay 38th Street, Brooklyn, NY 11214.
Parking includes a built-in garage and one additional private driveway space, accommodating up to two vehicles. Separate utilities support independent operation between the residences. Interior features include hardwood and tile flooring, along with a refrigerator, stove, washer, and dryer.
The property sits on a 0.0444-acre lot near P.S. 101, the D train at 86th Street, B3 bus service, supermarkets, restaurants, coffee shops, parks, and shopping. The address is 77 Bay 38th Street, Brooklyn, NY 11214.
Key Highlights
- 3,000 square feet across two three‑bedroom living arrangements
- Built in 1950 with brick construction
- Finished high‑ceiling basement with half bathroom and backyard 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
$81,824
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
5.93%
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%
$1,636,480
$1.6M
Cap Rate 7%
$1,168,914
$1.2M
Cap Rate 9%
$909,156
$909.2K
Market Conditions
NOI Build-Up for 3,000 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
$122.4K $40.80/SF
− Vacancy
−$5.5K −$1.84/SF
EGI
$116.9K $38.96/SF
− OpEx
−$35.1K −$11.69/SF
NOI
$81.8K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,636,480
Cap Rate 7%
$1,168,914
Cap Rate 9%
$909,156
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,824 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,504 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,954
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 three-bedroom layouts include balconies, a finished basement, and separate utilities.
Where is this duplex located?
The property is located at 77 Bay 38th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: 3,000 square feet across two three‑bedroom living arrangements; Built in 1950 with brick construction; Finished high‑ceiling basement with half bathroom and backyard access
