Brooklyn Multi-Family Property in
1431 Hancock Street, Brooklyn, NY 11237
MULTI_FAMILY - Brooklyn, NY
Property size:
3,300 SFLot size:
0.05 AcresPrice / SF:
$408/SF- Added:
- Mar 30, 2026
- Days on Market:
- 48
- Last Refresh:
- May 16 at 2:06 pm
Property Features for 1431 Hancock Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 5, Basement, Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1
- Interior features
- First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
- Basement
- Walk-Out Access, Partial
- Standard status
- Active
- APN
- 03393-0066
- Size
- 3,300 SF
- 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 agent Etan Hakimi (718) 268-5588
Listing office Mitra Hakimi Realty Group LLC 62 Berkshire Rd, Forest Hills, NY (718) 268-5588
Listing date Mar 30, 2026
MLS# 976919
Listing URL
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.
HighLights
- Prime Bushwick location known for strong rental demand, vibrant culture, and continued appreciation.
- Spacious interior with approximately 3,300 square feet of living space.
- Multi‑family building with two units: a three‑bedroom and a four‑bedroom railroad‑style layout.
- Well‑maintained property in good condition, ready for immediate occupancy.
- Partially finished basement providing additional usable space.
- Close proximity to the Bushwick Collective murals, cafes, restaurants, and nightlife.
Overview
Located in the heart of Bushwick, Brooklyn, 1431 Hancock Street is a multi-level property featuring approximately 3,300 square feet of interior space within a 20x55 building. The well-maintained multi-family building is situated in an area known for its strong rental demand, vibrant culture, and continued appreciation. The property features spacious interiors, high ceilings, and large windows that allow for abundant natural light, creating bright and comfortable living spaces. The units offer well-proportioned bedrooms, functional kitchens, and inviting common areas. The property's condition reflects consistent upkeep, offering a strong foundation for immediate occupancy with the potential for future value enhancement. The first floor features a railroad-style layout with three bedrooms, offering a flexible configuration. The second floor expands on this with a four-bedroom railroad-style layout, maximizing the property's residential potential. A partially finished basement provides additional usable space ideal for storage, recreation, or future customization. The property is located in a neighborhood recognized for its thriving arts scene, including the Bushwick Collective murals. Residents enjoy easy access to an eclectic mix of cafes, restaurants, and nightlife, ranging from trendy eateries to long-standing local favorites. The lot size is 0.0459 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$1.28M
NOI $115,572 @ 9.00% cap · cautious / downside scenario
Moderate
$1.65M
NOI $115,572 @ 7.00% cap · market / base-case scenario
Aggressive
$2.31M
NOI $115,572 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $168.3k | $51.00 |
| − Vacancy | −$3.2k | −$0.97 |
| EGI | $165.1k | $50.03 |
| − OpEx | −$49.5k | −$15.01 |
| NOI | $115.6k | $35.02 |
3,300 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Use Scenarios
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 local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.907369
- Latitude
- 40.696471
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Multi-family property in vibrant Bushwick with strong rental demand.
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: Prime Bushwick location known for strong rental demand, vibrant culture, and continued appreciation.; Spacious interior with approximately 3,300 square feet of living space.; Multi‑family building with two units: a three‑bedroom and a four‑bedroom railroad‑style layout.
