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 Market215
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
Listed By:
Jean Paul Ho · License #JPH8888
(718) 713-6888
Source:
Elliman
Added: Mar 11
Changed: Oct 10
Last Checked: Oct 9 at 10:07PM
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 / Yr
$39,575
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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.
