Detached Two-Family
For Sale
$749,000
2811 Haring St, Brooklyn, NY 11235
Fully vacant two-unit home with updated lower unit finishes and outdoor side yard space.
Property Size1,576 SF
Price / SF$475.25
Days on Market73
Property Features for 2811 Haring St
General Information
Standard status
Active
Size
1,576 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,111
Building Details
Building Size
1,576 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
CENTURY 21 Homefront
Listed By:
Delton Cheng · License #31CH0928260
(718) 252-6060
Source:
Elliman
Added: Jun 22
Changed: Aug 25
Last Checked: Sep 1 at 9:17PM
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 CENTURY 21 Homefront
Investment Insights
Based on property information with market context.
This fully detached two-family residence offers a versatile duplex layout and is being offered with both units fully vacant. The owner’s unit features original hardwood floors, vaulted ceilings, abundant natural light, and a skylight, with flexibility to create a second bedroom. The home also includes a separate laundry room for that upper unit.
The lower apartment has been updated with a new kitchen with stainless steel appliances, ceramic tiled flooring, and a full ceramic tiled bathroom with a soaking tub. It also has its own separate laundry area, and can readily be configured into a 2–3-bedroom layout. A side yard provides outdoor space suitable for relaxing, entertaining, and gardening.
Located in the Sheepshead Bay waterfront community just off Emmons Avenue, the property offers practical everyday access to local dining, shopping, and recreation. Transit access includes B/Q trains and B44 and B4 bus lines, and the Belt Parkway is nearby. As a result, the residence can be well suited for an owner-occupant looking to live in one unit while renting the other, or for an investor seeking a straightforward, ready-to-rent two-family configuration.
The lower apartment has been updated with a new kitchen with stainless steel appliances, ceramic tiled flooring, and a full ceramic tiled bathroom with a soaking tub. It also has its own separate laundry area, and can readily be configured into a 2–3-bedroom layout. A side yard provides outdoor space suitable for relaxing, entertaining, and gardening.
Located in the Sheepshead Bay waterfront community just off Emmons Avenue, the property offers practical everyday access to local dining, shopping, and recreation. Transit access includes B/Q trains and B44 and B4 bus lines, and the Belt Parkway is nearby. As a result, the residence can be well suited for an owner-occupant looking to live in one unit while renting the other, or for an investor seeking a straightforward, ready-to-rent two-family configuration.
Key Highlights
- Fully vacant 2‑unit multifamily home (fully detached) with 1,576 SF
- Lower apartment updated with a new kitchen with stainless steel appliances, ceramic tiled flooring, and a full ceramic tiled bathroom with soaking tub
- Owner’s unit features original hardwood floors, vaulted ceilings, abundant natural light, and a skylight
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
$55,194
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
7.37%
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%
$1,103,880
$1.1M
Cap Rate 7%
$788,486
$788.5K
Cap Rate 9%
$613,267
$613.3K
Market Conditions
NOI Build-Up for 1,576 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
$80.4K $51.00/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$78.8K $50.03/SF
− OpEx
−$23.7K −$15.01/SF
NOI
$55.2K $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%
$1,103,880
Cap Rate 7%
$788,486
Cap Rate 9%
$613,267
Alternative Uses
Best Use
Multifamily LT 5
$788.5K
$689.9K – $919.9K
NOI $55,194 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$687.3K
$601.4K – $801.9K
NOI $48,114 @ 7.0% cap · market cap 6.42%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,345 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Fully vacant two-unit home with updated lower unit finishes and outdoor side yard space.
Where is this duplex located?
The property is located at 2811 Haring St Brooklyn, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Fully vacant 2‑unit multifamily home (fully detached) with 1,576 SF; Lower apartment updated with a new kitchen with stainless steel appliances, ceramic tiled flooring, and a full ceramic tiled bathroom with soaking tub; Owner’s unit features original hardwood floors, vaulted ceilings, abundant natural light, and a skylight
