Two-Family Brick
For Sale
$850,000
697 Sheffield Ave, Brooklyn, NY 11207
Three-story residence includes a vacant basement, separate electric and gas meters, and newly replaced building systems.
Property Size2,034 SF
Price / SF$417.90
Days on Market98
Property Features for 697 Sheffield Ave
General Information
Standard status
Active
Size
2,034 SF
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/3BA
Multifamily Units
2
Building Details
Year Built
2008
Buildings
1
Stories
3
Construction
all-brick
Listing Agency:
EXP Realty
Listed By:
Xingye Fu
(516) 336-9417
Source:
Realtyconnectusa
Added: Jul 21
Changed: Oct 25
Last Checked: Aug 28 at 9:35AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
Built in 2008, this all-brick duplex contains 2,034 square feet across three stories and a basement. The lower duplex occupies the first and second floors with two bedrooms, a living room, and one bathroom. A second duplex spans the second and third floors and provides three bedrooms, a living room, and three bathrooms. The basement is vacant and includes a half bath, rear-yard access, and 8-foot ceilings.
Property systems include two new boilers, two hot water heaters, two electric meters, and two gas meters. New appliances are also in place, and both residential units are vacant. The property is located at 697 Sheffield Ave in Brooklyn, near the J/Z subway lines at Norwood Avenue Station and Cleveland Street Station. Additional transit includes the B14, B20, B83, Q24, and B15 bus routes, with access to Broadway Junction and connections to multiple subway lines and the LIRR.
Property systems include two new boilers, two hot water heaters, two electric meters, and two gas meters. New appliances are also in place, and both residential units are vacant. The property is located at 697 Sheffield Ave in Brooklyn, near the J/Z subway lines at Norwood Avenue Station and Cleveland Street Station. Additional transit includes the B14, B20, B83, Q24, and B15 bus routes, with access to Broadway Junction and connections to multiple subway lines and the LIRR.
Key Highlights
- 2,034 sq ft two‑family property built in 2008
- Two duplex residences with 2‑bedroom and 3‑bedroom layouts
- Vacant basement with half bath, rear‑yard access, and 8‑ft ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,234
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,424,680
$1.4M
Cap Rate 7%
$1,017,629
$1.0M
Cap Rate 9%
$791,489
$791.5K
Market Conditions
NOI Build-Up for 2,034 SF
Gross rent
$103.7K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$101.8K $50.03/SF
− OpEx
−$30.5K −$15.01/SF
NOI
$71.2K $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 Rate 5%
$1,424,680
Cap Rate 7%
$1,017,629
Cap Rate 9%
$791,489
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$890.4K – $1.19M
NOI $71,234 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$887.1K
$776.2K – $1.03M
NOI $62,096 @ 7.0% cap · market cap 7.31%
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,891 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
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Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Three-story residence includes a vacant basement, separate electric and gas meters, and newly replaced building systems.
Where is this duplex located?
The property is located at 697 Sheffield Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,034 sq ft two‑family property built in 2008; Two duplex residences with 2‑bedroom and 3‑bedroom layouts; Vacant basement with half bath, rear‑yard access, and 8‑ft ceilings
