Solid Brick Two-Family
For Sale
$850,000
Pending
631 Hegeman Ave, Brooklyn, NY 11207
Well-maintained semi-attached two-family with three bedrooms per unit, finished basement, and shared driveway parking.
Property Size2,400 SF
Lot Size0.06 Acres
Days on Market95
Property Features for 631 Hegeman Ave
General Information
Standard status
Pending
Size
2,400 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Zoning
R6
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,350
Building Details
Building Size
2,400 SF
Year Built
1930
Stories
2
Tenancy
Multi
Listing Agency:
Brooklyn Real Property, Inc.
Listed By:
Jean Paul Ho · License #JPH8888
(718) 875-8899
Source:
Elliman
Added: Jun 3
Changed: Sep 3
Last Checked: Sep 4 at 3:16PM
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 Brooklyn Real Property, Inc.
Investment Insights
Based on property information with market context.
This solid brick, semi-attached two-family home offers three bedrooms over three bedrooms, along with a large finished basement. The property is described as very well maintained, with a new gas burner and multiple improvements. Unit #1 is currently rented, with rental income stated as $3,910.00. Unit #2 is described as vacant, providing flexibility for an owner-occupant or future tenant layout. A shared driveway supports parking for the household.
The property is located in East New York, Brooklyn. The building size is reported as 20.5 x 60 on a 26.5 x 95 lot. The listing notes R6 zoning and an unused FAR of 3,727. Convenience is highlighted by proximity to restaurants, a large cinema complex, parks, supermarkets, and nearby MTA bus routes B15, B35, and B35LTD. Train access is also noted as close and accessible, including the 2, 3, 4, and 5 services. BikeScore is 73, walkScore is 90, and transitScore is 100.
For buyers seeking a residential income property, this configuration supports either keeping Unit #2 vacant for lease-up or using it as part of a multi-generational or owner-occupied setup while maintaining Unit #1. The combination of maintained condition, finished basement space, and shared driveway parking can be important to tenants and day-to-day living needs.
The property is located in East New York, Brooklyn. The building size is reported as 20.5 x 60 on a 26.5 x 95 lot. The listing notes R6 zoning and an unused FAR of 3,727. Convenience is highlighted by proximity to restaurants, a large cinema complex, parks, supermarkets, and nearby MTA bus routes B15, B35, and B35LTD. Train access is also noted as close and accessible, including the 2, 3, 4, and 5 services. BikeScore is 73, walkScore is 90, and transitScore is 100.
For buyers seeking a residential income property, this configuration supports either keeping Unit #2 vacant for lease-up or using it as part of a multi-generational or owner-occupied setup while maintaining Unit #1. The combination of maintained condition, finished basement space, and shared driveway parking can be important to tenants and day-to-day living needs.
Key Highlights
- Semi‑attached solid brick two‑family built in 1930 in East New York
- 3 bedrooms on both levels (apartment #1 and apartment #2)
- Rental income for apartment #1 is $3,910; apartment #2 is vacant
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
$73,270
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
8.62%
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%
$1,465,400
$1.5M
Cap Rate 7%
$1,046,714
$1.0M
Cap Rate 9%
$814,111
$814.1K
Market Conditions
NOI Build-Up for 2,400 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
$135.9K $56.64/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$133.2K $55.51/SF
− OpEx
−$59.9K −$24.98/SF
NOI
$73.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,465,400
Cap Rate 7%
$1,046,714
Cap Rate 9%
$814,111
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 8.62%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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 - Well-maintained semi-attached two-family with three bedrooms per unit, finished basement, and shared driveway parking.
Where is this duplex located?
The property is located at 631 Hegeman Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Semi‑attached solid brick two‑family built in 1930 in East New York; 3 bedrooms on both levels (apartment #1 and apartment #2); Rental income for apartment #1 is $3,910; apartment #2 is vacant
