Three-Family Home with Bonus
For Sale
$1,149,888
Pending
192 Hale Ave, Brooklyn, NY 11208
Three-story multifamily with a vacant two-bedroom unit plus occupied three-bedrooms and a bonus rear structure for additional space.
Property Size3,072 SF
Lot Size0.05 Acres
Days on Market80
Property Features for 192 Hale Ave
General Information
Standard status
Pending
Size
3,072 SF
Lot size
0.05 Acres
Property subtype
Investment
Zoning
R5B
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,477
Building Details
Building Size
3,072 SF
Year Built
1901
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Philip Ross SRS
(917) 502-9420
Source:
Elliman
Added: Jun 20
Changed: Aug 26
Last Checked: Sep 6 at 6:31AM
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 eXp Realty
Investment Insights
Based on property information with market context.
192 Hale Avenue is a three-family home built in 1901 with three stories of residential space and a bonus rear structure. The first-floor two-bedroom unit will be delivered vacant at closing for an owner-occupant or an incoming tenant. The second- and third-floor three-bedroom units are currently occupied by long-term tenants with about 18 years in place, each paying $2,000 per month, with leases running through May 2027. A bonus structure of approximately 1,000 square feet is also being delivered vacant and is in need of work, offering additional space for a buyer with renovation plans.
The property sits on a 23 x 100 lot with a full, unfinished basement that has been excavated to roughly seven feet. There are two exterior entrances to the basement, front and rear. Internally, the building is set up for separate utility billing with four separate electric meters, plus one oil boiler and one hot water heater. The home is located in Brooklyn’s Cypress Hills area, with the J train, Highland Park, and the Jackie Robinson Parkway nearby.
This configuration can fit owner-occupants seeking one unit ready for move-in while maintaining rental income from the upper floors under existing leases. It also provides an opportunity for investors or builders to incorporate the vacant bonus structure and below-grade space into a broader renovation strategy, supported by the property’s existing meter setup and basement access.
The property sits on a 23 x 100 lot with a full, unfinished basement that has been excavated to roughly seven feet. There are two exterior entrances to the basement, front and rear. Internally, the building is set up for separate utility billing with four separate electric meters, plus one oil boiler and one hot water heater. The home is located in Brooklyn’s Cypress Hills area, with the J train, Highland Park, and the Jackie Robinson Parkway nearby.
This configuration can fit owner-occupants seeking one unit ready for move-in while maintaining rental income from the upper floors under existing leases. It also provides an opportunity for investors or builders to incorporate the vacant bonus structure and below-grade space into a broader renovation strategy, supported by the property’s existing meter setup and basement access.
Key Highlights
- Three‑family built in 1901 with approx. 3,072 sq. ft. across three stories on a 23 x 100 lot in Cypress Hills, Brooklyn
- First‑floor 2‑bedroom will be delivered vacant at closing
- Second- and third‑floor 3‑bedroom units are occupied by long‑term tenants (18 years in place) at $2,000/month each, with leases through May 2027
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
$78,859
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
6.86%
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%
$1,577,180
$1.6M
Cap Rate 7%
$1,126,557
$1.1M
Cap Rate 9%
$876,211
$876.2K
Market Conditions
NOI Build-Up for 3,072 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
$118.0K $38.40/SF
− Vacancy
−$5.3K −$1.73/SF
EGI
$112.7K $36.67/SF
− OpEx
−$33.8K −$11.00/SF
NOI
$78.9K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,577,180
Cap Rate 7%
$1,126,557
Cap Rate 9%
$876,211
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$985.7K – $1.31M
NOI $78,859 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$1.00M
$877.7K – $1.17M
NOI $70,217 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,578 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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?
Triplex - Three-story multifamily with a vacant two-bedroom unit plus occupied three-bedrooms and a bonus rear structure for additional space.
Where is this triplex located?
The property is located at 192 Hale Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,149,888.
What are key features of this property?
This property features: Three‑family built in 1901 with approx. 3,072 sq. ft. across three stories on a 23 x 100 lot in Cypress Hills, Brooklyn; First‑floor 2‑bedroom will be delivered vacant at closing; Second- and third‑floor 3‑bedroom units are occupied by long‑term tenants (18 years in place) at $2,000/month each, with leases through May 2027
