Semi-Detached Two-Family
For Sale
$1,249,000
589 Mayfair Drive, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size2,120 SF
Lot Size0.06 Acres
Price / SF$589.15
Days on Market87
Property Features for 589 Mayfair Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bedroom 1, Bathroom 5, Bedroom 5, Bathroom 1
Patio and Porch features
Porch
Interior features
Dishwasher, Microwave, Porch, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Mill Basin
Standard status
Active
Size
2,120 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8719
Building Details
Year built
1965
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Granite
Building materials
Brick
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Tammy Barmack
(718) 763-4110
Added: May 18
Changed: Aug 3
Last Checked: Aug 12 at 8:06AM
MLS# 501548
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.
This semi-detached two-family duplex offers two separate living levels configured as 3 bedrooms and 1.5 baths over 3 bedrooms and 1.5 baths. The home also includes a finished basement with a bonus room and full baths. Interior highlights include granite kitchens and baths and hardwood and granite flooring, along with a porch. The property features brick construction, and there are 2 separate heating systems.
Outside, there is a 2-car private driveway and a porch. The property is situated on a 0.0574-acre lot. Built in 1965, the home is positioned under R5 zoning.
The unit layout and separate heating systems can support comfortable multi-family living while providing distinct space across both floors and the finished basement.
Outside, there is a 2-car private driveway and a porch. The property is situated on a 0.0574-acre lot. Built in 1965, the home is positioned under R5 zoning.
The unit layout and separate heating systems can support comfortable multi-family living while providing distinct space across both floors and the finished basement.
Key Highlights
- R5 zoned semi‑detached two‑family duplex with brick construction
- 3 bedrooms and 1.5 baths over 3 bedrooms and 1.5 baths
- Finished basement with bonus room and full baths
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
$74,246
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
5.94%
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%
$1,484,920
$1.5M
Cap Rate 7%
$1,060,657
$1.1M
Cap Rate 9%
$824,956
$825.0K
Market Conditions
NOI Build-Up for 2,120 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
$108.1K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$106.1K $50.03/SF
− OpEx
−$31.8K −$15.01/SF
NOI
$74.2K $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 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%
$1,484,920
Cap Rate 7%
$1,060,657
Cap Rate 9%
$824,956
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.1K – $1.24M
NOI $74,246 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$924.6K
$809.0K – $1.08M
NOI $64,721 @ 7.0% cap · market cap 5.18%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $122,875 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - R5 zoned semi-detached two-family duplex with 2 separate heating systems and a private 2-car driveway.
Where is this duplex located?
The property is located at 589 Mayfair Drive Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: R5 zoned semi‑detached two‑family duplex with brick construction; 3 bedrooms and 1.5 baths over 3 bedrooms and 1.5 baths; Finished basement with bonus room and full baths
