Flatlands Two-Family
For Sale
$1,100,000
Pending
10561 Flatlands 7th St, Brooklyn, NY 11236
Desirable, detached two-family home in Flatlands neighborhood.
Property Size1,100 SF
Lot Size0.10 Acres
Days on Market156
Property Features for 10561 Flatlands 7th St
General Information
Standard status
Pending
Size
1,100 SF
Lot size
0.10 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,468
Building Details
Building Size
1,100 SF
Units
2
Listing Agency:
Brooklyn Real Property Inc.
(718) 713-6888
Listed By:
Jean Paul Ho
Source:
Elliman
Added: Mar 11
Changed: Aug 11
Last Checked: Aug 13 at 11:14AM
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 Brooklyn Real Property Inc.
Investment Insights
Based on property information with market context.
This fully detached two-family home, a Waxman Split level built in 1960, is located in the desirable Seaview Village Flatlands 7 street. The property features a layout with 3 bedrooms, large rooms, a formal dining room, a modern eat-in kitchen, and a large living room with cathedral high ceilings and wood floors. Windows are present throughout the home. The private 1-bedroom apartment (convertible to 2 bedrooms) includes side and interior stairs, an eat-in kitchen, a formal dining area, and a large living room. The above-ground basement has a laundry room, a 3/4 bath, a family room, and storage space. The home is equipped with forced air heating, central air, and a humidifier. A private driveway accommodates 2-5 cars, and a large backyard is suitable for outdoor activities. The building measures 22.42 ft x 50.42 ft on a 41.67 ft x 100 ft lot, zoned R3X. The property is situated on a quiet, all-residential, tree-lined block. It is located minutes from Rockaway Pier, Belt Parkway, shopping, and an express bus to Manhattan.
Key Highlights
- Highly desirable, fully detached 2‑family Waxman Split level on a private, quiet, all‑residential block.
- Features a spacious 3‑bedroom main unit with formal dining room, modern eat‑in kitchen, and large living room with cathedral ceilings.
- Includes a private 1‑bedroom apartment (convertible to 2‑bedroom) with separate entrance, eat‑in kitchen, and living room.
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
$39,575
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
3.60%
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%
$791,500
$791.5K
Cap Rate 7%
$565,357
$565.4K
Cap Rate 9%
$439,722
$439.7K
Market Conditions
NOI Build-Up for 1,130 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
$57.6K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$56.5K $50.03/SF
− OpEx
−$17.0K −$15.01/SF
NOI
$39.6K $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%
$791,500
Cap Rate 7%
$565,357
Cap Rate 9%
$439,722
Alternative Uses
Best Use
Multifamily LT 5
$565.4K
$494.7K – $659.6K
NOI $39,575 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$492.8K
$431.2K – $575.0K
NOI $34,498 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$935.6K
$818.7K – $1.09M
NOI $65,495 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
979
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 - Desirable, detached two-family home in Flatlands neighborhood.
Where is this duplex located?
The property is located at 10561 Flatlands 7th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Highly desirable, fully detached 2‑family Waxman Split level on a private, quiet, all‑residential block.; Features a spacious 3‑bedroom main unit with formal dining room, modern eat‑in kitchen, and large living room with cathedral ceilings.; Includes a private 1‑bedroom apartment (convertible to 2‑bedroom) with separate entrance, eat‑in kitchen, and living room.
