Brick Duplex with Separate
For Sale
$1,438,000
1711 Gerritsen Avenue, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size2,758 SF
Lot Size0.07 Acres
Price / SF$521.39
Days on Market106
Property Features for 1711 Gerritsen Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
Patio and Porch features
Porch
Interior features
Central Air, Central Air - Split, Dishwasher, Dryer, Microwave, Porch, Refrigerator, Stove, Washer
Basement
Full
Subdivision
Madison
Standard status
Active
Size
2,758 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
11214
Building Details
Year built
1945
Flooring type
Hardwood, Ceramic, Carpet
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Anzhela (Angela) Staraya · License #10301205577
(917) 596-3339
Added: May 22
Changed: Aug 30
Last Checked: Sep 4 at 9:06AM
MLS# 501672
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.
This semi-detached brick duplex in Brooklyn offers 2,758 square feet of living space on a 30' x 100' lot, with a 23.5' x 42' building footprint. The upper residence includes three bedrooms, two full bathrooms, a half bath, living room, kitchen, and formal dining room. Hardwood flooring, high ceilings, generous closet space, central air, and kitchen appliances are included.
A fully separate lower-level unit has its own entrance, two bedrooms, one bathroom, living area, and full kitchen. Exterior features include front and rear porches, side entrances, a private driveway, and a built-in garage accommodating three or more cars. The property was built in 1945 and is zoned R3-2.
The home is located at 1711 Gerritsen Avenue in Brooklyn, near Marine Park, shopping, dining, and transportation. The flexible configuration accommodates extended household use or separate occupancy, subject to applicable requirements.
A fully separate lower-level unit has its own entrance, two bedrooms, one bathroom, living area, and full kitchen. Exterior features include front and rear porches, side entrances, a private driveway, and a built-in garage accommodating three or more cars. The property was built in 1945 and is zoned R3-2.
The home is located at 1711 Gerritsen Avenue in Brooklyn, near Marine Park, shopping, dining, and transportation. The flexible configuration accommodates extended household use or separate occupancy, subject to applicable requirements.
Key Highlights
- 2,758 square feet of living space on a 0.0689‑acre lot
- 30' x 100' lot with a 23.5' x 42' building footprint
- Separate lower‑level unit with private entrance, two bedrooms, one bathroom, and full kitchen
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
$96,590
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
6.72%
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%
$1,931,800
$1.9M
Cap Rate 7%
$1,379,857
$1.4M
Cap Rate 9%
$1,073,222
$1.1M
Market Conditions
NOI Build-Up for 2,758 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
$140.7K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$138.0K $50.03/SF
− OpEx
−$41.4K −$15.01/SF
NOI
$96.6K $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%
$1,931,800
Cap Rate 7%
$1,379,857
Cap Rate 9%
$1,073,222
Alternative Uses
Best Use
Multifamily LT 5
$1.38M
$1.21M – $1.61M
NOI $96,590 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,199 @ 7.0% cap · market cap 5.86%
Theoretical Best
Specialty Retail
$2.28M
$2.00M – $2.66M
NOI $159,854 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,782
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Semi-detached brick property with a private driveway and built-in garage.
Where is this duplex located?
The property is located at 1711 Gerritsen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,438,000.
What are key features of this property?
This property features: 2,758 square feet of living space on a 0.0689‑acre lot; 30' x 100' lot with a 23.5' x 42' building footprint; Separate lower‑level unit with private entrance, two bedrooms, one bathroom, and full kitchen
