Turnkey Two-Family Brooklyn
697 Sheffield Avenue, Brooklyn, NY 11207
MULTI_FAMILY - Brooklyn, NY
Property size:
2,034 SFLot size:
0.03 AcresPrice / SF:
$442/SF- Added:
- Apr 1, 2026
- Days on Market:
- 45
- Last Refresh:
- May 15 at 8:06 pm
Property Features for 697 Sheffield Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Basement, Bathroom 5, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Dining Room
- Parking features
- On Street
- Interior features
- First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Formal Dining
- Basement
- Partially Finished, Full, Walk-Out Access
- Standard status
- Active
- APN
- 04298-0052
- Size
- 2,034 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6374
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 2008
- Number of units
- 2
- Flooring type
- Hardwood
- Building materials
- Brick
Listing agent Xingye Fu (516) 336-9417
Listing office EXP Realty 70 E Sunrise Hwy Ste 500, Hauppauge, NY (888) 276-0630
Listing date Apr 1, 2026
MLS# 979596
Listing URL
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey two‑family brick home built in 2008, featuring modern finishes and new appliances.
- Strong rental income potential with vacant units ready for immediate occupancy.
- Prime Brooklyn location with superior transit access, including multiple subway lines and bus routes.
- Low annual taxes of only $6,374.
- Duplex layout with a total of 5 bedrooms and 4 bathrooms across both units.
- Basement with 8‑ft ceilings, half bath, rear yard access, two new boilers, and two new hot water heaters.
Overview
This all-brick two-family home, constructed in 2008, offers a turnkey investment opportunity in Brooklyn. The property features modern finishes and new appliances, requiring no renovations. The total interior space is 2,034 sq ft across three stories, plus a basement. The layout includes a first and second-floor duplex with 2 bedrooms, 1 living room, and 1 bathroom. The second and third-floor duplex features 3 bedrooms, 1 living room, and 3 bathrooms. The vacant basement includes a half bath, rear yard access, 8-ft ceilings, two new boilers, two hot water heaters, two electric meters, and two gas meters. The property is located in East Brooklyn and offers convenient transit access. The J/Z subway lines at Norwood Avenue Station and Cleveland Street Station are within a 5-10 minute walk. Bus routes B14, B20, B83, and Q24 connect to Broadway Junction, providing access to the A, C, J, Z, L trains, and the LIRR. Commuting to Lower Manhattan takes approximately 30-40 minutes, with quick access to Downtown Brooklyn and Williamsburg. Additional transit options include the Pennsylvania Ave 3 train, New Lots Ave L Train, and the Junius St/ Van Siclen Ave 2/3/4/5 Train. The B15 bus, with a stop one minute away, connects to JFK airport, and the B20 bus is a 3-minute walk. The annual taxes are $6,374. The lot size is 0.0264 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$791.5K
NOI $71,234 @ 9.00% cap · cautious / downside scenario
Moderate
$1.02M
NOI $71,234 @ 7.00% cap · market / base-case scenario
Aggressive
$1.42M
NOI $71,234 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.7k | $51.00 |
| − Vacancy | −$2.0k | −$0.97 |
| EGI | $101.8k | $50.03 |
| − OpEx | −$30.5k | −$15.01 |
| NOI | $71.2k | $35.02 |
2,034 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.02M
$890.4K – $1.19M
NOI $71,234 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$887.1K
$776.2K – $1.03M
NOI $62,096 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,891 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.892557
- Latitude
- 40.659998
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Modern, move-in ready two-family home in prime Brooklyn location.
Where is this duplex located?
The property is located at 697 Sheffield Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Turnkey two‑family brick home built in 2008, featuring modern finishes and new appliances.; Strong rental income potential with vacant units ready for immediate occupancy.; **Prime Brooklyn location with superior transit access**, including multiple subway lines and bus routes.
