Two-Family Home Coney Island
For Sale
$989,000
2967 Coney Island Ave, Brooklyn, NY 11235
Two-family home near shopping, schools, hospitals, and public transportation.
Property Size1,280 SF
Lot Size0.05 Acres
Days on Market281
Property Features for 2967 Coney Island Ave
General Information
Standard status
Active
Size
1,280 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,244
Building Details
Building Size
1,280 SF
Year Built
1915
Stories
2
Listing Agency:
Kaloshi Real Estate Inc
Listed By:
Javed Iqbal · License #JI2929
(718) 287-5200
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 25
Last Checked: Sep 4 at 2:02PM
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 Kaloshi Real Estate Inc
Investment Insights
Based on property information with market context.
This is a two-family home featuring a full finished basement. The property is situated close to shopping, schools, hospitals, and public transportation. It is suitable for multi-generational living or rental income opportunities, combining space, accessibility, and a location in Brooklyn.
Key Highlights
- Prime Coney Island Avenue location offers convenience.
- Two‑family home ideal for multi‑generational living or rental income.
- Full finished basement provides additional living space.
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
$44,828
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
4.53%
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%
$896,560
$896.6K
Cap Rate 7%
$640,400
$640.4K
Cap Rate 9%
$498,089
$498.1K
Market Conditions
NOI Build-Up for 1,280 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
$65.3K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$64.0K $50.03/SF
− OpEx
−$19.2K −$15.01/SF
NOI
$44.8K $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%
$896,560
Cap Rate 7%
$640,400
Cap Rate 9%
$498,089
Alternative Uses
Best Use
Multifamily LT 5
$640.4K
$560.4K – $747.1K
NOI $44,828 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$558.2K
$488.5K – $651.3K
NOI $39,077 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$1.06M
$927.4K – $1.24M
NOI $74,189 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,122
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home near shopping, schools, hospitals, and public transportation.
Where is this duplex located?
The property is located at 2967 Coney Island Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Prime Coney Island Avenue location offers convenience.; Two‑family home ideal for multi‑generational living or rental income.; Full finished basement provides additional living space.
