Renovated Duplex with Detached
For Sale
$1,050,000
1871 Haring Street, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,575 SF
Lot Size0.04 Acres
Price / SF$666.67
Days on Market60
Property Features for 1871 Haring Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
Garage - Detached
Interior features
A/C Unit, Laundry Area, Microwave, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Marine Park
Standard status
Active
Size
1,575 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7796
Building Details
Year built
1930
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Century 21 Homefront Realty
(718) 252-6060
Listed By:
Delton Cheng · License #31CH0928260
(718) 514-1720
Added: Jul 10
Changed: Sep 6
Last Checked: Sep 7 at 6:06PM
MLS# 502908
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 attached duplex offers 1,575 square feet arranged across two primary levels plus a finished lower level. The first floor includes a living room, open kitchen, dining area, enclosed sunroom, and full bathroom. Three bedrooms occupy the second floor, along with additional closet space and a full bathroom with a skylight. The lower level adds a home office and family or recreation room. Hardwood and tile flooring, brick construction, air conditioning, laundry, and a kitchen equipped with a microwave, refrigerator, and stove are included. The property also has a detached garage, private rear parking, and a flat roof.
Built in 1930, the property sits on a 0.0413-acre lot and carries R4 zoning. Transit access includes the B3, B31, BM4, and B100 bus lines. The Marine Park Preserve, Salt Marsh Nature Trail, and the restaurants, cafes, and shops along Avenue R are nearby.
Built in 1930, the property sits on a 0.0413-acre lot and carries R4 zoning. Transit access includes the B3, B31, BM4, and B100 bus lines. The Marine Park Preserve, Salt Marsh Nature Trail, and the restaurants, cafes, and shops along Avenue R are nearby.
Key Highlights
- 1,575‑square‑foot attached duplex on a 0.0413‑acre lot
- Three bedrooms with a finished lower level featuring a home office and recreation room
- Private rear parking and detached garage
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
$55,159
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
5.25%
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%
$1,103,180
$1.1M
Cap Rate 7%
$787,986
$788.0K
Cap Rate 9%
$612,878
$612.9K
Market Conditions
NOI Build-Up for 1,575 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
$80.3K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$78.8K $50.03/SF
− OpEx
−$23.6K −$15.01/SF
NOI
$55.2K $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%
$1,103,180
Cap Rate 7%
$787,986
Cap Rate 9%
$612,878
Alternative Uses
Best Use
Multifamily LT 5
$788.0K
$689.5K – $919.3K
NOI $55,159 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$686.9K
$601.0K – $801.4K
NOI $48,083 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,287 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,558
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-level duplex with three bedrooms, finished lower-level space, private rear parking, and a detached garage.
Where is this duplex located?
The property is located at 1871 Haring Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 1,575‑square‑foot attached duplex on a 0.0413‑acre lot; Three bedrooms with a finished lower level featuring a home office and recreation room; Private rear parking and detached garage
