Spacious Canarsie
685 Rockaway Pkwy Brooklyn, NY 11236
685 Rockaway Pkwy, Brooklyn, NY, 11236
$999,000
For Sale
$999,000
Two-story home with flexible space in a convenient Brooklyn location.
Property Size2,508 SF
Lot Size0.07 Acres
Price / SF$398.33
Days on Market134
Property Features for 685 Rockaway Pkwy
General Information
- Standard status
- Active
- Size
- 2,508 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1963
Listing agency
REMAX EDGE
(917) 708-9966
Listed by
Peter Pan · License #10401215383
(917) 708-9966
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 12:04PM Checked: Jul 21 at 9:07AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
Located in the Canarsie neighborhood of Brooklyn, 685 Rockaway Pkwy is a two-story home offering generous interior space and a sizable lot. The property contains approximately 2,508 square feet of interior living space and sits on an approximately 3,250 square foot lot. Built in 1963, the property features a flexible layout suitable for living, dining, and sleeping areas. It is located close to the Canarsie–Rockaway Parkway L train terminal, providing direct subway access to Manhattan and across Brooklyn. Multiple bus lines are accessible along Rockaway Parkway and surrounding avenues. The location offers convenient access to local shopping, supermarkets, restaurants, and neighborhood services. This property is suitable for both owner-occupants and investors. The large interior footprint and lot size offer the potential to reconfigure or optimize the layout, subject to approvals. Recent property taxes were last reported around $7,468 annually.
Key Highlights
- Approx. 2,508 sq ft of interior living space.
- Located near the Canarsie–Rockaway Parkway L train terminal for direct subway access to Manhattan and Brooklyn.
- Sizable lot size of approx. 3,250 sq ft.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.9k | $51.00 |
| − Vacancy | −$2.4k | −$0.97 |
| EGI | $125.5k | $50.03 |
| − OpEx | −$37.6k | −$15.01 |
| NOI | $87.8k | $35.02 |
2,508 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,834 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$1.09M
$957.1K – $1.28M
NOI $76,567 @ 7.0% cap · market cap 7.66%
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.42M
NOI $145,364 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Parkway School
High School
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-story home with flexible space in a convenient Brooklyn location.
Where is this duplex located?
The property is located at 685 Rockaway Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Approx. 2,508 sq ft of interior living space.; Located near the Canarsie–Rockaway Parkway L train terminal for direct subway access to Manhattan and Brooklyn.; Sizable lot size of approx. 3,250 sq ft.
