Two-Level Residential Income
For Sale
$895,000
88 Marion Street 4B, Brooklyn, NY 11233
A private balcony and rooftop terrace extend the unit’s living space outdoors.
Property Size1,010 SF
Price / SF$886.14
Days on Market9
Property Features for 88 Marion Street 4B
General Information
Standard status
Active
Size
1,010 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$12,552
Building Details
Building Size
1,010 SF
Year Built
2018
Listing Agency:
Corcoran Group
Listed By:
Daniel Cohen · License #10401261296
(862) 823-2674
Source:
Carlinwright
Added: Sep 23
Changed: Sep 29
Last Checked: Sep 30 at 6:05PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 1,010-square-foot duplex residence has two bedrooms and two full bathrooms across two levels. The main floor combines the living and dining areas with an open kitchen, plus a secondary bedroom and full bath. The upper level contains the primary suite, with a double-vanity bathroom and walk-in shower. A balcony off the living area and a private terrace above provide two distinct outdoor spaces. Interior features include hardwood floors, stone kitchen counters, stainless steel appliances, split-system heating and cooling, an in-unit washer and dryer, and additional storage. The building dates to 2018.
The property is at 88 Marion Street in Brooklyn’s Bedford-Stuyvesant neighborhood. Nearby dining options named for the area include Sarai’s Café, Peaches, Bar Lunàtico, and Trad Room. A/C subway service provides access toward Manhattan.
The property is at 88 Marion Street in Brooklyn’s Bedford-Stuyvesant neighborhood. Nearby dining options named for the area include Sarai’s Café, Peaches, Bar Lunàtico, and Trad Room. A/C subway service provides access toward Manhattan.
Key Highlights
- 1,010‑square‑foot duplex with 2 bedrooms and 2 full bathrooms
- Two private outdoor areas: a balcony and an upper‑level terrace
- Open kitchen with custom cabinetry, stone counters, and stainless steel appliances
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
$30,834
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
3.45%
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%
$616,680
$616.7K
Cap Rate 7%
$440,486
$440.5K
Cap Rate 9%
$342,600
$342.6K
Market Conditions
NOI Build-Up for 1,010 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
$57.2K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$56.1K $55.51/SF
− OpEx
−$25.2K −$24.98/SF
NOI
$30.8K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$616,680
Cap Rate 7%
$440,486
Cap Rate 9%
$342,600
Alternative Uses
Best Use
Apartment 5plus
$440.5K
$385.4K – $513.9K
NOI $30,834 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$836.3K
$731.8K – $975.7K
NOI $58,540 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A private balcony and rooftop terrace extend the unit’s living space outdoors.
Where is this residential income property located?
The property is located at 88 Marion Street 4B Brooklyn, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 1,010‑square‑foot duplex with 2 bedrooms and 2 full bathrooms; Two private outdoor areas: a balcony and an upper‑level terrace; Open kitchen with custom cabinetry, stone counters, and stainless steel appliances
