Two-Unit Duplex
New
For Sale
$1,899,000
193 11th Street, Brooklyn, NY 11215
Residential, Brooklyn, NY
Property Size1,620 SF
Lot Size0.04 Acres
Price / SF$1,172
Days on Market3
Property Features for 193 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 4, Bedroom 4, Bathroom 1
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Park Slope
Standard status
Active
Size
1,620 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4368
Amenities
laundry room
home theater
dishwasher
washer/dryer
Building Details
Year built
1899
Floors in Building
4
Number of units
2
Flooring type
Ceramic, Hardwood, Tile
Building materials
Wood Frame
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 887-5708
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 10:06PM
MLS# 504102
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 1620-square-foot, two-family residence contains two duplex apartments within a wood-frame home built in 1899. The lower apartment includes two bedrooms, two bathrooms, a living and dining area, kitchen, laundry room, and additional lower-level room. The upper apartment provides three bedrooms, two bathrooms, a kitchen, and in-unit laundry equipment. Hardwood, ceramic, and tile flooring appear throughout, while updated appliances serve both units. Gas heating is delivered through a two-zone hydronic hot-water system.
The property occupies an 18' * 100' lot in Brooklyn’s Gowanus area, with access to Park Slope, F/G/R train service, neighborhood retail, restaurants, and creative spaces. R6B zoning is reported for the property. The separate apartment configuration supports owner occupancy alongside rental use or a multi-generational household arrangement.
The property occupies an 18' * 100' lot in Brooklyn’s Gowanus area, with access to Park Slope, F/G/R train service, neighborhood retail, restaurants, and creative spaces. R6B zoning is reported for the property. The separate apartment configuration supports owner occupancy alongside rental use or a multi-generational household arrangement.
Key Highlights
- Two duplex apartments with separate entrances
- Lower unit: 2 bedrooms, 2 bathrooms, laundry room, and bonus room
- Upper unit: 3 bedrooms, 2 bathrooms, 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
8,029
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 - Two separate apartments offer adaptable living arrangements with private entrances and contemporary household features.
Where is this duplex located?
The property is located at 193 11th Street 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: 2 bedrooms, 2 bathrooms, laundry room, and bonus room; Upper unit: 3 bedrooms, 2 bathrooms, dishwasher, and washer/dryer
