Brooklyn Two-Family Residence For
For Sale
$1,100,000
Pending
28 Paerdegat 9th St, Brooklyn, NY 11236
Well-maintained, turnkey 2-family residence in Canarsie neighborhood, Brooklyn.
Property Size2,375 SF
Lot Size0.05 Acres
Days on Market184
Property Features for 28 Paerdegat 9th St
General Information
Standard status
Pending
Size
2,375 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,965
Building Details
Building Size
2,375 SF
Year Built
1965
Stories
2
Listing Agency:
Vanguard R E Brokerage Group
Listed By:
Lamar M. Collins · License #967038
(718) 570-5131
Source:
Elliman
Added: Mar 10
Changed: Sep 8
Last Checked: Sep 8 at 8:02AM
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 Vanguard R E Brokerage Group
Investment Insights
Based on property information with market context.
This is a two-family residence located in the Canarsie neighborhood of Brooklyn. The two-story home has a solid brick exterior. The gross building area is 2,375 square feet, situated on a 19.83' x 100' lot. The property features an abundance of natural light and gleaming hardwood floors. It has been updated with a new roof, modern boiler, and a hot water tank.
Key Highlights
- Turnkey 2‑family residence in desirable Canarsie neighborhood.
- Income‑generating potential.
- Solid brick, two‑story construction.
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
$83,177
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
7.56%
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%
$1,663,540
$1.7M
Cap Rate 7%
$1,188,243
$1.2M
Cap Rate 9%
$924,189
$924.2K
Market Conditions
NOI Build-Up for 2,375 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
$121.1K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$118.8K $50.03/SF
− OpEx
−$35.6K −$15.01/SF
NOI
$83.2K $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%
$1,663,540
Cap Rate 7%
$1,188,243
Cap Rate 9%
$924,189
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,177 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$1.04M
$906.3K – $1.21M
NOI $72,506 @ 7.0% cap · market cap 6.59%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.29M
NOI $137,655 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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 - Well-maintained, turnkey 2-family residence in Canarsie neighborhood, Brooklyn.
Where is this duplex located?
The property is located at 28 Paerdegat 9th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Turnkey 2‑family residence in desirable Canarsie neighborhood.; Income‑generating potential.; Solid brick, two‑story construction.
