Three-Story Single-Family
For Sale
$719,000
2312A Mermaid Avenue, Brooklyn, NY 11224
SINGLE_FAMILY - Brooklyn, NY
Property Size1,812 SF
Lot Size0.02 Acres
Price / SF$396.80
Days on Market851
Property Features for 2312A Mermaid Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R6
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Interior features
A/C Unit, Dishwasher, Dryer, Refrigerator, Stove, Washer
Basement
Crawl Space
Subdivision
Coney Island
Standard status
Active
Size
1,812 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
4435
Building Details
Year built
2000
Floors in Building
3
Architectural style
Other
Listing Agency:
Winzone Realty Inc
Listed By:
Bin Hu Zhan
(718) 676-6611
Added: May 6, 2024
Changed: Aug 3
Last Checked: Sep 3 at 7:06AM
MLS# 481862
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.
Built in 2000 and reportedly renovated in the past few years, this three-story single-family home offers approximately 1,812 square feet of living area. The layout includes a first floor with a living room, kitchen, dining area, and a half bath, along with access to a crawl space for storage. The second floor features two large bedrooms with closets and a full bathroom, while the third floor provides a special large bedroom with a huge closet and a second full bathroom. Hardwood floors run throughout the home, and there is a laundry room. Off-street parking for two cars is referenced, with the note that the parking spaces are excluded from the lot.
The property is described as being in the heart of Coney Island, within short distance to the Coney Island beach and near the D.F.N.Q subway station. Public transportation is also referenced via B64, B36, and B74 bus routes.
The home is zoned R6, and the lot size is listed as 0.0227 acres.
The property is described as being in the heart of Coney Island, within short distance to the Coney Island beach and near the D.F.N.Q subway station. Public transportation is also referenced via B64, B36, and B74 bus routes.
The home is zoned R6, and the lot size is listed as 0.0227 acres.
Key Highlights
- Single‑family home built in 2000 with 1,812 sqft of living area
- 3 bedrooms and 2.5 bathrooms across three levels
- Renovated in recent years and features hardwood floors throughout
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
$55,318
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
7.69%
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%
$1,106,360
$1.1M
Cap Rate 7%
$790,257
$790.3K
Cap Rate 9%
$614,644
$614.6K
Market Conditions
NOI Build-Up for 1,812 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
$102.6K $56.64/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$100.6K $55.51/SF
− OpEx
−$45.3K −$24.98/SF
NOI
$55.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,106,360
Cap Rate 7%
$790,257
Cap Rate 9%
$614,644
Alternative Uses
Best Use
Apartment 5plus
$790.3K
$691.5K – $922.0K
NOI $55,318 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,024 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,609
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Newer three-story residence with 3 bedrooms and 2.5 baths, hardwood floors, and an on-site laundry area.
Where is this single family property located?
The property is located at 2312A Mermaid Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Single‑family home built in 2000 with 1,812 sqft of living area; 3 bedrooms and 2.5 bathrooms across three levels; Renovated in recent years and features hardwood floors throughout
