Residential Income Property with Roof
For Sale
$945,000
764 MACON Street 4B, Brooklyn, NY 11233
2024 residence with custom cabinetry, quartz finishes, private outdoor areas, and in-unit laundry.
Property Size872 SF
Price / SF$1,083
Days on Market499
Property Features for 764 MACON Street 4B
General Information
Standard status
Active
Size
872 SF
Property subtype
Duplex
Building Details
Building Size
872 SF
Year Built
2024
Listing Agency:
Corcoran Group
Listed By:
Daniel Cohen · License #10401261296
(862) 823-2674
Source:
Penrealty
Added: May 14, 2025
Changed: Sep 23
Last Checked: Sep 22 at 7:21PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Unit 4B is an 872-square-foot residential income property with two bedrooms, two bathrooms, and two private outdoor spaces. The kitchen includes custom natural wood and cream cabinetry, quartz countertops and backsplashes, a Bertazzoni appliance package, and an externally vented range hood. Bathrooms feature oak cabinetry, floating vanities, lighted medicine cabinets, heated floors, and either deep soaking tubs or tiled walk-showers. A bonus bedroom upstairs connects to private outdoor space and the roof deck, with an en-suite bathroom behind a sliding barn door.
Completed in 2024, the residence includes hardwood plank flooring, multi-zone Mitsubishi heating and cooling, double-pane windows, recessed LED lighting, Bluetooth speakers, and an in-unit washer/dryer. Building amenities include a smart video intercom, package shelving, mailboxes, and a furnished lobby. The property is across from Saratoga Park at Macon Street and Howard Avenue, with a Citi Bike station directly across the street and the Halsey Street J a couple of blocks away.
Completed in 2024, the residence includes hardwood plank flooring, multi-zone Mitsubishi heating and cooling, double-pane windows, recessed LED lighting, Bluetooth speakers, and an in-unit washer/dryer. Building amenities include a smart video intercom, package shelving, mailboxes, and a furnished lobby. The property is across from Saratoga Park at Macon Street and Howard Avenue, with a Citi Bike station directly across the street and the Halsey Street J a couple of blocks away.
Key Highlights
- 872‑square‑foot unit with two bedrooms and two bathrooms
- Two private outdoor spaces plus roof deck access
- Kitchen with Bertazzoni appliances, quartz surfaces, and custom cabinetry
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
$26,621
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
2.82%
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%
$532,420
$532.4K
Cap Rate 7%
$380,300
$380.3K
Cap Rate 9%
$295,789
$295.8K
Market Conditions
NOI Build-Up for 872 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
$49.4K $56.64/SF
− Vacancy
−$988 −$1.13/SF
EGI
$48.4K $55.51/SF
− OpEx
−$21.8K −$24.98/SF
NOI
$26.6K $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%
$532,420
Cap Rate 7%
$380,300
Cap Rate 9%
$295,789
Alternative Uses
Best Use
Apartment 5plus
$380.3K
$332.8K – $443.7K
NOI $26,621 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$722.0K
$631.8K – $842.4K
NOI $50,541 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,519
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 2024 residence with custom cabinetry, quartz finishes, private outdoor areas, and in-unit laundry.
Where is this residential income property located?
The property is located at 764 MACON Street 4B Brooklyn, NY.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 872‑square‑foot unit with two bedrooms and two bathrooms; Two private outdoor spaces plus roof deck access; Kitchen with Bertazzoni appliances, quartz surfaces, and custom cabinetry
