Detached Two-Family Brick
For Sale
$1,388,000
Pending
1664 Hendrickson St, Brooklyn, NY 11234
Flexible two-unit residence with finished basement, oversized garage, and a large attic for storage.
Property Size3,520 SF
Lot Size0.09 Acres
Days on Market100
Property Features for 1664 Hendrickson St
General Information
Standard status
Pending
Size
3,520 SF
Total Parking Spaces
2
Lot size
0.09 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,000
Building Details
Building Size
3,520 SF
Year Built
1930
Stories
3
Tenancy
Multi
Listing Agency:
Bergen Basin Realty
Listed By:
Lee S Wasserman
(718) 787-4110
Source:
Elliman
Added: Jun 3
Changed: Sep 8
Last Checked: Sep 9 at 10:09AM
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 Bergen Basin Realty
Investment Insights
Based on property information with market context.
This detached brick two-family home offers a practical, flexible layout with substantial living space. The top floor includes a spacious two-bedroom unit with one full bathroom, complemented by a very large attic that can serve as additional storage. The first floor features three oversized bedrooms and one full bathroom. A finished basement adds further usable area, and the overall building footprint measures 24 feet wide by 50 feet deep.
Set on a 40 by 100 lot, the property includes a two-car private driveway and a detached oversized garage. Located in the Marine Park section of Brooklyn, it is described as convenient to PS 222 elementary school, houses of worship, and private schools, with nearby shopping, restaurants, and parks. Public transit access is supported by proximity to the Junction 2 and 5 train.
For buyers, the configuration supports either continued income use or conversion to a custom one-family home, depending on how an operator or owner wants to stage the space. With distinct floor plans, plus attic and basement space, the property can suit tenants or an owner-occupant seeking separation and flexibility within a single, standalone structure.
Set on a 40 by 100 lot, the property includes a two-car private driveway and a detached oversized garage. Located in the Marine Park section of Brooklyn, it is described as convenient to PS 222 elementary school, houses of worship, and private schools, with nearby shopping, restaurants, and parks. Public transit access is supported by proximity to the Junction 2 and 5 train.
For buyers, the configuration supports either continued income use or conversion to a custom one-family home, depending on how an operator or owner wants to stage the space. With distinct floor plans, plus attic and basement space, the property can suit tenants or an owner-occupant seeking separation and flexibility within a single, standalone structure.
Key Highlights
- Detached brick two‑family home with approx. 3,500 sq ft of interior space
- Top floor: 2‑bedroom unit and 1 full bath, plus a very large attic for storage
- First floor: 3 oversized bedrooms and 1 full bath
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
$122,576
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
8.83%
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%
$2,451,520
$2.5M
Cap Rate 7%
$1,751,086
$1.8M
Cap Rate 9%
$1,361,956
$1.4M
Market Conditions
NOI Build-Up for 3,500 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
$178.5K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$175.1K $50.03/SF
− OpEx
−$52.5K −$15.01/SF
NOI
$122.6K $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%
$2,451,520
Cap Rate 7%
$1,751,086
Cap Rate 9%
$1,361,956
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,576 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $106,851 @ 7.0% cap · market cap 7.70%
Theoretical Best
Specialty Retail
$2.90M
$2.54M – $3.38M
NOI $202,860 @ 7.0% cap · market cap 14.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,272
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible two-unit residence with finished basement, oversized garage, and a large attic for storage.
Where is this duplex located?
The property is located at 1664 Hendrickson St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Detached brick two‑family home with approx. 3,500 sq ft of interior space; Top floor: 2‑bedroom unit and 1 full bath, plus a very large attic for storage; First floor: 3 oversized bedrooms and 1 full bath
