Renovated Two-Family
For Sale
$2,300,000
8322 10th Ave, Brooklyn, NY 11228
Move-in-ready two-family duplex with two updated units and a finished basement, plus shared driveway and detached garage.
Property Size2,096 SF
Days on Market64
Property Features for 8322 10th Ave
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,920
Building Details
Building Size
2,096 SF
Year Built
1924
Stories
2
Listing Agency:
RE/MAX Real Estate Professionals
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Elliman
Added: Jun 25
Changed: Aug 15
Last Checked: Aug 26 at 9:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Real Estate Professionals
Investment Insights
Based on property information with market context.
This beautifully renovated semi-detached two-family home sits on a 25' x 100' lot with a 20' x 50' building size. The property is move-in ready and features two separate apartments: a spacious 3-bedroom, 2-bath unit and a 4-bedroom, 2-bath unit. Both apartments have been newly renovated throughout with modern finishes. Additional living or functional space is available in the finished basement. Parking and storage needs are supported by a shared driveway that leads to a detached garage.
Convenience is built in, with the home positioned near shopping, schools, and transportation, as well as other neighborhood amenities. Walking and transit accessibility are supported by a Walk Score of 85 (Very Walkable) and a Transit Score of 73 (Excellent Transit). The Bike Score is 59 (Bikeable).
Designed for flexibility, the layout can work well for an end-user seeking rental income or a buyer looking for an income-producing residential property. With two distinct bedroom-and-bath configurations already in place, the home offers a straightforward residential setup alongside upgraded interiors and additional usable basement space.
Convenience is built in, with the home positioned near shopping, schools, and transportation, as well as other neighborhood amenities. Walking and transit accessibility are supported by a Walk Score of 85 (Very Walkable) and a Transit Score of 73 (Excellent Transit). The Bike Score is 59 (Bikeable).
Designed for flexibility, the layout can work well for an end-user seeking rental income or a buyer looking for an income-producing residential property. With two distinct bedroom-and-bath configurations already in place, the home offers a straightforward residential setup alongside upgraded interiors and additional usable basement space.
Key Highlights
- Move‑in‑ready renovated semi‑detached two‑family duplex on a 25' x 100' lot
- Two apartments: 3BR/2BA unit plus 4BR/2BA unit for flexible living or rental income
- Newly renovated throughout with modern finishes
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
$73,405
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
3.19%
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%
$1,468,100
$1.5M
Cap Rate 7%
$1,048,643
$1.0M
Cap Rate 9%
$815,611
$815.6K
Market Conditions
NOI Build-Up for 2,096 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
$106.9K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$104.9K $50.03/SF
− OpEx
−$31.5K −$15.01/SF
NOI
$73.4K $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%
$1,468,100
Cap Rate 7%
$1,048,643
Cap Rate 9%
$815,611
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$917.6K – $1.22M
NOI $73,405 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$914.1K
$799.9K – $1.07M
NOI $63,989 @ 7.0% cap · market cap 2.78%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.02M
NOI $121,484 @ 7.0% cap · market cap 5.28%
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
3,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Move-in-ready two-family duplex with two updated units and a finished basement, plus shared driveway and detached garage.
Where is this duplex located?
The property is located at 8322 10th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Move‑in‑ready renovated semi‑detached two‑family duplex on a 25' x 100' lot; Two apartments: 3BR/2BA unit plus 4BR/2BA unit for flexible living or rental income; Newly renovated throughout with modern finishes
