Duplex Residential Income
For Sale
$675,000
88 Marion Street 1A, Brooklyn, NY 11233
Two-level residence includes a recreation area, private patio, and access to a shared rooftop terrace.
Property Size927 SF
Price / SF$728.16
Days on Market10
Property Features for 88 Marion Street 1A
General Information
Standard status
Active
Size
927 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,544
Amenities
private patio
in-unit washer/dryer
split-system heating and cooling
hardwood flooring
virtual intercom system
shared rooftop terrace
Building Details
Building Size
927 SF
Year Built
2018
Listing Agency:
Corcoran Group
Listed By:
Daniel Cohen · License #10401261296
(862) 823-2674
Source:
Miradorrealestate
Added: Sep 22
Changed: Sep 28
Last Checked: Sep 30 at 2:52PM
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.
Residence 1A is a two-level, one-bedroom home with one full bathroom and a powder room. Its 927 square feet include a living and dining area, an open kitchen with stone countertops and stainless steel appliances, and a lower-level recreation space. Hardwood flooring runs throughout, and the home has split-system heating and cooling, an in-unit washer and dryer, and a virtual intercom. A private patio extends the lower level outdoors, while residents also have access to a shared rooftop terrace with skyline views.
The property is on a tree-lined block in Bedford-Stuyvesant, near Chez Oscar, Milk & Pull, and Bar Lunàtico. The A and C trains are accessible from the area.
The property is on a tree-lined block in Bedford-Stuyvesant, near Chez Oscar, Milk & Pull, and Bar Lunàtico. The A and C trains are accessible from the area.
Key Highlights
- One‑bedroom, two‑level residence with 927 square feet
- One full bathroom and one powder room
- Lower‑level recreation area with access to a private patio
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
$28,300
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
4.19%
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%
$566,000
$566.0K
Cap Rate 7%
$404,286
$404.3K
Cap Rate 9%
$314,444
$314.4K
Market Conditions
NOI Build-Up for 927 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
$52.5K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$51.5K $55.51/SF
− OpEx
−$23.2K −$24.98/SF
NOI
$28.3K $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%
$566,000
Cap Rate 7%
$404,286
Cap Rate 9%
$314,444
Alternative Uses
Best Use
Apartment 5plus
$404.3K
$353.8K – $471.7K
NOI $28,300 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$767.6K
$671.6K – $895.5K
NOI $53,729 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
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 - Two-level residence includes a recreation area, private patio, and access to a shared rooftop terrace.
Where is this residential income property located?
The property is located at 88 Marion Street 1A Brooklyn, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: One‑bedroom, two‑level residence with 927 square feet; One full bathroom and one powder room; Lower‑level recreation area with access to a private patio
