Two-Family Home with Finished
For Sale
$989,000
2967 Coney Island Avenue, Brooklyn, NY 11235
MULTI_FAMILY - Brooklyn, NY
Property Size1,280 SF
Lot Size0.05 Acres
Price / SF$772.66
Days on Market322
Property Features for 2967 Coney Island Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C8-1
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5
Basement
Finished, Full
Subdivision
Brighton Beach
Standard status
Active
Size
1,280 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5244
Building Details
Year built
1915
Floors in Building
2
Flooring type
Concrete, Carpet, Ceramic
Building materials
Brick
Roof type
Shingle
Listing Agency:
Kaloshi Real Estate Inc
(718) 287-5200
Listed By:
Javed Iqbal · License #JI2929
(347) 234-1049
Added: Oct 19, 2025
Changed: Aug 3
Last Checked: Sep 5 at 8:06AM
MLS# 496715
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 two-family home at 2967 Coney Island Avenue includes a full finished basement and brick construction. The property offers 1,280 square feet of interior space, with flooring finished in concrete, ceramic, and carpet. The roof is shingle, and the home was built in 1915.
The property is located in Brooklyn, NY 11235, in Kings (Brooklyn) County, under C8-1 zoning. It is described as being conveniently positioned near shopping, schools, hospitals, and public transportation.
Rooming includes multiple bedrooms and bathrooms, supporting use for multi-generational living or rental occupancy.
The property is located in Brooklyn, NY 11235, in Kings (Brooklyn) County, under C8-1 zoning. It is described as being conveniently positioned near shopping, schools, hospitals, and public transportation.
Rooming includes multiple bedrooms and bathrooms, supporting use for multi-generational living or rental occupancy.
Key Highlights
- Full finished basement in a two‑family home
- 0.0459‑acre lot
- 1,280 SF interior 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
Lease Details
Multi-tenant
Tenancy
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 on C8-1 zoning with a full finished basement and brick construction under a shingle roof.
Where is this duplex located?
The property is located at 2967 Coney Island Avenue 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: Full finished basement in a two‑family home; 0.0459‑acre lot; 1,280 SF interior space
