Brick Duplex With Basement
For Sale
$1,348,000
Pending
1431 Hancock Street, Brooklyn, NY 11237
Residential Income, Brooklyn, NY
Property Size3,300 SF
Lot Size0.05 Acres
Days on Market164
Property Features for 1431 Hancock Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 7, Bedroom 6, Bedroom 3, Bedroom 5, Bathroom 2, Basement, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Walk-Out Access, Partial
Elementary school
Ps 106 Edward Everett Hale
Middle school
Jhs 291 Roland Hayes
High school
Academy For Excellence In Leadership
Elementary school district
Brooklyn 32
Middle school district
Brooklyn 32
High school district
Brooklyn 32
Special listing conditions
Third Party Approval
Standard status
Pending
APN
03393-0066
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4350
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
2
Building materials
Brick
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: Mar 30
Changed: Sep 3
Last Checked: Sep 9 at 9:06AM
MLS# 976919
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.
This multi-level brick duplex contains approximately 3,300 square feet of interior space on a 20x55 building footprint. The first residence offers a three-bedroom railroad-style arrangement, while the second provides four bedrooms in a similar linear configuration. Both layouts include functional kitchens and common living areas, with high ceilings and large windows contributing to bright interiors. A partially finished basement adds usable area for storage, recreation, or future customization.
Built in 1910, the property includes a first-floor bedroom, first-floor full bath, and eat-in kitchen. Public water and public sewer serve the building, with natural gas heating. The lot measures 0.0459 acres, and the property is located in Bushwick near the Bushwick Collective murals, cafes, restaurants, and nightlife.
Built in 1910, the property includes a first-floor bedroom, first-floor full bath, and eat-in kitchen. Public water and public sewer serve the building, with natural gas heating. The lot measures 0.0459 acres, and the property is located in Bushwick near the Bushwick Collective murals, cafes, restaurants, and nightlife.
Key Highlights
- Approximately 3,300 square feet of interior space
- 20x55 building size on a 0.0459‑acre lot
- First‑floor three‑bedroom railroad‑style layout
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
$115,572
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
8.57%
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%
$2,311,440
$2.3M
Cap Rate 7%
$1,651,029
$1.7M
Cap Rate 9%
$1,284,133
$1.3M
Market Conditions
NOI Build-Up for 3,300 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
$168.3K $51.00/SF
− Vacancy
−$3.2K −$0.97/SF
EGI
$165.1K $50.03/SF
− OpEx
−$49.5K −$15.01/SF
NOI
$115.6K $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%
$2,311,440
Cap Rate 7%
$1,651,029
Cap Rate 9%
$1,284,133
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,572 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,619
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
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 - Two railroad-style residences provide three- and four-bedroom layouts.
Where is this duplex located?
The property is located at 1431 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,348,000.
What are key features of this property?
This property features: Approximately 3,300 square feet of interior space; 20x55 building size on a 0.0459‑acre lot; First‑floor three‑bedroom railroad‑style layout
