Two-Family Residential
For Sale
$1,299,000
359 Winthrop St, Brooklyn, NY 11225
Recently renovated two-family home featuring a finished basement, hardwood floors, and a 2-vehicle carport.
Property Size2,120 SF
Days on Market44
Property Features for 359 Winthrop St
General Information
Standard status
Active
Size
2,120 SF
Total Parking Spaces
2
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,923
Building Details
Building Size
2,120 SF
Year Built
1902
Stories
3
Listing Agency:
REMAX EDGE
Listed By:
Jesus Magana · License #10401290345
(718) 612-3088
Source:
Elliman
Added: Jul 21
Changed: Aug 14
Last Checked: Sep 1 at 6:56PM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
This recently renovated two-family home offers a finished basement and hardwood floors throughout. The basement includes two recreational rooms and a bathroom. The first floor features three bedrooms, two bathrooms, a living room, and a kitchen, with the primary bedroom having a private bath and access to the back yard.
The second floor is set up as a split-level duplex with eight total bedrooms. It includes two bathrooms, both with eat-in kitchen areas, an open living area, and closets in all bedrooms. One bedroom includes a terrace area.
The property includes a two-vehicle carport and is owner occupied, with delivery vacant upon closing. Located in Prospect Lefferts Garden, it is served by the N and 2 train and multiple bus routes (B16, B35). Nearby shopping and commercial areas are also described as close by.
The second floor is set up as a split-level duplex with eight total bedrooms. It includes two bathrooms, both with eat-in kitchen areas, an open living area, and closets in all bedrooms. One bedroom includes a terrace area.
The property includes a two-vehicle carport and is owner occupied, with delivery vacant upon closing. Located in Prospect Lefferts Garden, it is served by the N and 2 train and multiple bus routes (B16, B35). Nearby shopping and commercial areas are also described as close by.
Key Highlights
- Recently renovated 2‑family home built in 1902 with hardwood floors throughout
- First floor features 3 bedrooms and 2 bathrooms, plus living room and kitchen
- Master bedroom on first floor has a private bathroom and access to the back yard
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
5.72%
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 5.72%
Second Best
Apartment 5plus
$924.6K
$809.0K – $1.08M
NOI $64,721 @ 7.0% cap · market cap 4.98%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $122,875 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 11225, NY
58,786
Population
26,703
Households
2.2
Avg Household Size
36
Median Age
48%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
65,318
Density / Sq Mi
$85,201
Median Household Income
$54,639
Median Earnings
$1,733
Median Rent
$1,218,300
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 - Recently renovated two-family home featuring a finished basement, hardwood floors, and a 2-vehicle carport.
Where is this duplex located?
The property is located at 359 Winthrop St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Recently renovated 2‑family home built in 1902 with hardwood floors throughout; First floor features 3 bedrooms and 2 bathrooms, plus living room and kitchen; Master bedroom on first floor has a private bathroom and access to the back yard
