Three-Story Two-Family
New
For Sale
$1,800,000
505 Macon Street, Brooklyn, NY 11233
Residential, Brooklyn, NY
Property Size2,850 SF
Lot Size0.05 Acres
Price / SF$631.58
Days on Market1
Property Features for 505 Macon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Patio and Porch features
Patio
Interior features
Patio Garden
Basement
Full, Unfinished
Subdivision
Bedford Stuyvesant
Standard status
Active
Size
2,850 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6509
Amenities
private backyard
fireplaces
Building Details
Year built
1901
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
eXp Realty BKNY
Listed By:
Raymond P. Reis lll
(888) 276-0630
Added: Oct 1
Last Checked: Oct 1 at 4:06PM
MLS# 504983
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.
At 505 Macon Street, this brick brownstone is arranged as two apartments across three stories, with a basement and cellar below. The property contains approximately 2,850 square feet on a 20' x 100' lot and was built in 1901. Interior features include hardwood flooring and period details such as woodwork and fireplaces; a private backyard adds outdoor space.
The property is between Stuyvesant Avenue and Malcolm X Boulevard in Brooklyn. The surrounding area includes restored townhomes and neighborhood dining, with access to the A and C subway lines. Zoning is R6B.
The property is between Stuyvesant Avenue and Malcolm X Boulevard in Brooklyn. The surrounding area includes restored townhomes and neighborhood dining, with access to the A and C subway lines. Zoning is R6B.
Key Highlights
- Two apartments across three stories, plus a basement/cellar
- Approximately 2,850 square feet on a 20' x 100' lot
- Built in 1901 with period woodwork and fireplaces
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments occupy the upper floors, with additional space in the basement 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: Two apartments across three stories, plus a basement/cellar; Approximately 2,850 square feet on a 20' x 100' lot; Built in 1901 with period woodwork and fireplaces
