Legal Duplex with Private
For Sale
$899,000
Pending
964 Hemlock Street, Brooklyn, NY 11208
MULTI_FAMILY - Brooklyn, NY
Property Size2,537 SF
Lot Size0.04 Acres
Days on Market153
Property Features for 964 Hemlock Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Garage
Interior features
First Floor Bedroom
Standard status
Pending
APN
04529-0117
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6503
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
private backyard
Building Details
Year built
2005
Number of units
3
Building materials
Brick, Frame
Listing Agency:
Keller Williams Realty Greater
(516) 873-7100
Listed By:
Davidson Joseph
(917) 415-1060
Added: Mar 13
Changed: Jul 28
Last Checked: Aug 12 at 8:06PM
MLS# 971541
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.
964 Hemlock Street presents a legal duplex configured as two separate units, with a total of six bedrooms and three bathrooms across approximately 2,537 square feet of living space. The layout offers flexibility, with the ability to arrange the spaces as a 3-bedroom over 3-bedroom setup or as a 3-bedroom over 2-bedroom plus 1-bedroom configuration.
The property includes a garage and a private backyard, supporting a variety of residential living arrangements. Positioned on a quiet residential street, it is described as being close to local amenities, schools, parks, and convenient transportation options.
As a legal duplex, the home is built for straightforward multi-unit use while allowing the interior plan to be tailored to different needs. Buyers seeking an income-producing property or a live-in option should find the existing configuration and outdoor space to be important practical features.
The property includes a garage and a private backyard, supporting a variety of residential living arrangements. Positioned on a quiet residential street, it is described as being close to local amenities, schools, parks, and convenient transportation options.
As a legal duplex, the home is built for straightforward multi-unit use while allowing the interior plan to be tailored to different needs. Buyers seeking an income-producing property or a live-in option should find the existing configuration and outdoor space to be important practical features.
Key Highlights
- Legal duplex with 6 bedrooms, 3 bathrooms, and approximately 2,537 sq ft of living space
- Flexible unit configuration options: 3‑bedroom over 3‑bedroom or 3‑bedroom over 2‑bedroom + 1‑bedroom
- Garage and driveway parking with a 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
$65,126
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
7.24%
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%
$1,302,520
$1.3M
Cap Rate 7%
$930,371
$930.4K
Cap Rate 9%
$723,622
$723.6K
Market Conditions
NOI Build-Up for 2,537 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
$97.4K $38.40/SF
− Vacancy
−$4.4K −$1.73/SF
EGI
$93.0K $36.67/SF
− OpEx
−$27.9K −$11.00/SF
NOI
$65.1K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,302,520
Cap Rate 7%
$930,371
Cap Rate 9%
$723,622
Alternative Uses
Best Use
Multifamily LT 5
$930.4K
$814.1K – $1.09M
NOI $65,126 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$828.4K
$724.9K – $966.5K
NOI $57,989 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,663 @ 7.0% cap · market cap 12.09%
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
1,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 - Legal duplex with flexible bedroom configurations, garage, and a private backyard in Brooklyn.
Where is this duplex located?
The property is located at 964 Hemlock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Legal duplex with 6 bedrooms, 3 bathrooms, and approximately 2,537 sq ft of living space; Flexible unit configuration options: 3‑bedroom over 3‑bedroom or 3‑bedroom over 2‑bedroom + 1‑bedroom; Garage and driveway parking with a private backyard
