Renovated Two-Family Detached
For Sale
$1,800,000
9617 Avenue M, Brooklyn, NY 11236
MULTI_FAMILY - Brooklyn, NY
Property Size1,960 SF
Lot Size0.06 Acres
Price / SF$918.37
Days on Market278
Property Features for 9617 Avenue M
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Interior features
Laundry Area, Refrigerator, Washer
Basement
Finished
Subdivision
Canarsie
Standard status
Active
Size
1,960 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5648
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Linoleum, Tile, Hardwood
Building materials
Wood Frame
Roof type
Flat
Architectural style
Ranch
Listing Agency:
Brooklyn Real Property, Inc
(718) 272-8988
Listed By:
Jean Paul Ho · License #JPH8888
(718) 875-8899
Added: Dec 1, 2025
Changed: Aug 3
Last Checked: Sep 5 at 10:06AM
MLS# 497648
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.
Detached two-family duplex with a finished accessory basement and private backyard, positioned as a flexible option for either end users or ownership groups. The second-floor unit is a three-bedroom layout, with a two-bedroom apartment on the first floor. Each level is supported by practical in-home features such as a dedicated entrance to the accessory basement, plus an interior laundry area. Construction is wood frame with a flat roof, and the property was renovated in 2022.
The home is fully detached and can be delivered vacant. It is located at 9617 Avenue M in Brooklyn’s Canarsie area, just off Rockaway Parkway, with proximity to minutes to Rockaway Parkway and nearby shopping, supermarkets, restaurants, and major bus lines.
For buyers considering a combined development footprint, the property can be purchased together with 9623 Avenue M. The adjacent lot is noted separately and both sites can be delivered vacant.
The home is fully detached and can be delivered vacant. It is located at 9617 Avenue M in Brooklyn’s Canarsie area, just off Rockaway Parkway, with proximity to minutes to Rockaway Parkway and nearby shopping, supermarkets, restaurants, and major bus lines.
For buyers considering a combined development footprint, the property can be purchased together with 9623 Avenue M. The adjacent lot is noted separately and both sites can be delivered vacant.
Key Highlights
- R4‑1 zoning detached 2‑family duplex with private backyard
- 3‑bedroom over 2‑bedroom layout
- Renovated in 2022 and can be delivered vacant
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
$68,643
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
3.81%
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%
$1,372,860
$1.4M
Cap Rate 7%
$980,614
$980.6K
Cap Rate 9%
$762,700
$762.7K
Market Conditions
NOI Build-Up for 1,960 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
$100.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$98.1K $50.03/SF
− OpEx
−$29.4K −$15.01/SF
NOI
$68.6K $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%
$1,372,860
Cap Rate 7%
$980,614
Cap Rate 9%
$762,700
Alternative Uses
Best Use
Multifamily LT 5
$980.6K
$858.0K – $1.14M
NOI $68,643 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$854.8K
$748.0K – $997.3K
NOI $59,837 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,602 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,779
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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 - Detached two-family duplex in R4-1 zoning with a finished accessory basement and private backyard, delivered vacant.
Where is this duplex located?
The property is located at 9617 Avenue M Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: R4‑1 zoning detached 2‑family duplex with private backyard; 3‑bedroom over 2‑bedroom layout; Renovated in 2022 and can be delivered vacant
