Two-Family Duplex
New
For Sale
$1,899,000
193 11th St, Brooklyn, NY 11215
Historic Brooklyn residence with two separately configured apartments, private entrances, updated appliances, and flexible owner-occupancy potential.
Property Size1,620 SF
Days on Market3
Property Features for 193 11th St
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,368
Building Details
Building Size
1,620 SF
Year Built
1899
Buildings
1
Stories
4
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 6 at 6:40AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
Built in 1899 on an 18' × 100' lot, this two-family residence is arranged as two duplex apartments with separate entrances. The lower home includes two bedrooms, two baths, living and dining space, a large kitchen, dedicated laundry, and a bonus room used as a home theater. The upper apartment provides three bedrooms, two full baths, a dishwasher, and an in-unit washer and dryer. Original period details are complemented by updated appliances in both residences.
Heating is provided by a two-zone gas-fired hydronic hot-water system, with a hot-water heater serving the property. The home is in Gowanus near Park Slope, with access to the F, G, and R subway lines, local shops, restaurants, and creative spaces. Walk Score is 91, Transit Score is 89, and bikeScore is 74.
Heating is provided by a two-zone gas-fired hydronic hot-water system, with a hot-water heater serving the property. The home is in Gowanus near Park Slope, with access to the F, G, and R subway lines, local shops, restaurants, and creative spaces. Walk Score is 91, Transit Score is 89, and bikeScore is 74.
Key Highlights
- Two duplex apartments with separate entrances
- Lower unit includes 2 bedrooms, 2 baths, laundry, and a bonus room
- Upper unit offers 3 bedrooms, 2 full baths, dishwasher, and washer/dryer
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
$56,735
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
2.99%
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%
$1,134,700
$1.1M
Cap Rate 7%
$810,500
$810.5K
Cap Rate 9%
$630,389
$630.4K
Market Conditions
NOI Build-Up for 1,620 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
$82.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$81.1K $50.03/SF
− OpEx
−$24.3K −$15.01/SF
NOI
$56.7K $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%
$1,134,700
Cap Rate 7%
$810,500
Cap Rate 9%
$630,389
Alternative Uses
Best Use
Multifamily LT 5
$810.5K
$709.2K – $945.6K
NOI $56,735 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$706.5K
$618.2K – $824.3K
NOI $49,457 @ 7.0% cap · market cap 2.60%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,895 @ 7.0% cap · market cap 4.94%
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
8,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
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 - Historic Brooklyn residence with two separately configured apartments, private entrances, updated appliances, and flexible owner-occupancy potential.
Where is this duplex located?
The property is located at 193 11th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Two duplex apartments with separate entrances; Lower unit includes 2 bedrooms, 2 baths, laundry, and a bonus room; Upper unit offers 3 bedrooms, 2 full baths, dishwasher, and washer/dryer
