Three-Story Brownstone
For Sale
$1,800,000
505 Macon Street, Brooklyn, NY 11233
Residential Income, Brooklyn, NY
Property Size2,850 SF
Lot Size0.05 Acres
Price / SF$631.58
Days on Market336
Property Features for 505 Macon Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 2
Basement
Full
High school
Boys And Girls High School
Elementary school district
Brooklyn 16
Middle school district
Brooklyn 16
High school district
Brooklyn 16
Directions
From Jackie Robinson Pkwy, take Bushwick Ave exit toward Broadway. Continue on Bushwick Ave, turn left on Broadway. Turn right on Macon St. Property is on the left.
Standard status
Active
APN
01666-0076
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6217
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
fireplaces
private backyard
Building Details
Year built
1901
Number of units
2
Building materials
Brownstone
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Raymond Reis III
(917) 336-1118
Added: Sep 22, 2025
Changed: Aug 20
Last Checked: Aug 23 at 8:06AM
MLS# 915646
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.
Investment Insights
Based on property information with market context.
This three-story brownstone is configured as a two-family property with approximately 2,850 square feet of interior space and a basement or cellar. Built in 1901, the residence retains period features including woodwork, fireplaces, and other pre-war elements. The building occupies a 20' x 100' lot and includes a private backyard, historic facade, and room for reconfiguration subject to applicable requirements.
The property is located between Stuyvesant Avenue and Malcolm X Boulevard in Brooklyn’s Stuyvesant Heights area. Neighborhood amenities include dining, while the A/C subway lines provide nearby transit access. Public water and sewer serve the property, with natural gas hot-water heating.
The property is located between Stuyvesant Avenue and Malcolm X Boulevard in Brooklyn’s Stuyvesant Heights area. Neighborhood amenities include dining, while the A/C subway lines provide nearby transit access. Public water and sewer serve the property, with natural gas hot-water heating.
Key Highlights
- Three‑story, two‑family brownstone built in 1901
- Approximately 2,850 square feet with basement/cellar space
- 20' x 100' lot with private backyard
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
$99,812
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
5.55%
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%
$1,996,240
$2.0M
Cap Rate 7%
$1,425,886
$1.4M
Cap Rate 9%
$1,109,022
$1.1M
Market Conditions
NOI Build-Up for 2,850 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
$145.4K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$142.6K $50.03/SF
− OpEx
−$42.8K −$15.01/SF
NOI
$99.8K $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%
$1,996,240
Cap Rate 7%
$1,425,886
Cap Rate 9%
$1,109,022
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.66M
NOI $99,812 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,008 @ 7.0% cap · market cap 4.83%
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $165,186 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,932
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-apartment layout with basement space, original pre-war details, and a private backyard.
Where is this duplex located?
The property is located at 505 Macon Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three‑story, two‑family brownstone built in 1901; Approximately 2,850 square feet with basement/cellar space; 20' x 100' lot with private backyard
