Two-Residence Duplex
For Sale
$1,395,000
1207 HANCOCK Street, Brooklyn, NY 11221
Vacant delivery, private backyard, and a separate upper residence support flexible occupancy.
Property Size2,565 SF
Lot Size0.04 Acres
Price / SF$543.86
Days on Market77
Property Features for 1207 HANCOCK Street
General Information
Standard status
Active
Size
2,565 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Zoning
R6
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,108
Amenities
private backyard
laundry
Building Details
Building Size
2,565 SF
Year Built
1910
Buildings
1
Listing Agency:
Serhant
Listed By:
Gabrielle Amanda Gilbert
(347) 886-8362
Source:
Miradorrealestate
Added: Aug 11
Changed: Oct 25
Last Checked: Oct 25 at 12:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant
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Investment Insights
Based on property information with market context.
This Brooklyn duplex property contains approximately 2,565 interior square feet across two residences. The garden and parlor levels form the primary home, with five legal bedrooms, three full bathrooms, a living room, dining area, kitchen, laundry room, and access to a private backyard. A separate third-floor residence adds two bedrooms, living and dining areas, a kitchen, bathroom, and laundry. The property will be delivered vacant at closing.
Additional space includes a full unfinished basement suitable for storage and utility functions. The approximately 19-by-100-foot lot is improved with a substantial rear yard, while the R6 zoning may warrant review by qualified professionals regarding future expansion or development possibilities. Built in 1910, the property is located in Bushwick near restaurants, cafés, shopping, parks, and everyday services. The Wilson Avenue L train is approximately 0.4 mile away, connecting with Brooklyn and Manhattan.
Additional space includes a full unfinished basement suitable for storage and utility functions. The approximately 19-by-100-foot lot is improved with a substantial rear yard, while the R6 zoning may warrant review by qualified professionals regarding future expansion or development possibilities. Built in 1910, the property is located in Bushwick near restaurants, cafés, shopping, parks, and everyday services. The Wilson Avenue L train is approximately 0.4 mile away, connecting with Brooklyn and Manhattan.
Key Highlights
- Approximately 2,565 interior square feet with two separate residences
- Five legal bedrooms and three full bathrooms
- Separate third‑floor two‑bedroom residence with its own laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,831
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,796,620
$1.8M
Cap Rate 7%
$1,283,300
$1.3M
Cap Rate 9%
$998,122
$998.1K
Market Conditions
NOI Build-Up for 2,565 SF
Gross rent
$130.8K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$128.3K $50.03/SF
− OpEx
−$38.5K −$15.01/SF
NOI
$89.8K $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 Rate 5%
$1,796,620
Cap Rate 7%
$1,283,300
Cap Rate 9%
$998,122
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.50M
NOI $89,831 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$1.12M
$978.8K – $1.31M
NOI $78,307 @ 7.0% cap · market cap 5.61%
Theoretical Best
Specialty Retail
$2.12M
$1.86M – $2.48M
NOI $148,667 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,459
Businesses Nearby
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Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant delivery, private backyard, and a separate upper residence support flexible occupancy.
Where is this duplex located?
The property is located at 1207 HANCOCK Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Approximately 2,565 interior square feet with two separate residences; Five legal bedrooms and three full bathrooms; Separate third‑floor two‑bedroom residence with its own laundry
