Renovated Two-Family Home with
For Sale
$1,299,000
359 Winthrop Street, Brooklyn, NY 11225
MULTI_FAMILY - Brooklyn, NY
Property Size2,120 SF
Lot Size0.05 Acres
Price / SF$612.74
Days on Market38
Property Features for 359 Winthrop Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
11
Bathrooms
5
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 8, Bedroom 9, Bedroom 11, Bathroom 5, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 10, Bedroom 7, Bathroom 1
Parking features
Carport
Patio and Porch features
Patio
Interior features
A/C Unit - Window, Disposal, Patio Garden
Basement
Finished
Subdivision
Lefferts Garden
Standard status
Active
Size
2,120 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3923
Amenities
hardwood floors
finished basement
recreational rooms
terrace
eat-in kitchen
Building Details
Year built
1902
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jesus Magana · License #10401290345
(718) 612-3088
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 23 at 3:06PM
MLS# 503113
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
Renovated two-family home with brick construction, asphalt roofing, and hardwood floors throughout. The basement is fully finished and includes two recreational rooms and a bathroom. The first floor offers three bedrooms, two bathrooms, a living room, and a kitchen, with the master bedroom featuring a private bathroom and access to the back yard.
The second floor is a split-level duplex with eight bedrooms in total, two bathrooms, eat-in kitchen areas, and an open living area. One bedroom includes a terrace area, and there are closets in all bedrooms. Additional features include an A/C window unit, disposal, patio, and a garden/patio area.
The property is owner occupied and will be delivered vacant upon closing. Parking is provided by a two-vehicle carport. Zoned R6, the lot size is 0.0487 acres, and the home was built in 1902.
The second floor is a split-level duplex with eight bedrooms in total, two bathrooms, eat-in kitchen areas, and an open living area. One bedroom includes a terrace area, and there are closets in all bedrooms. Additional features include an A/C window unit, disposal, patio, and a garden/patio area.
The property is owner occupied and will be delivered vacant upon closing. Parking is provided by a two-vehicle carport. Zoned R6, the lot size is 0.0487 acres, and the home was built in 1902.
Key Highlights
- Renovated two‑family home with fully finished basement and two recreational rooms plus bathroom
- Split‑level second floor duplex with 8 total bedrooms and terrace area on one bedroom
- Hardwood floors throughout with brick construction and asphalt roof
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
Lease Details
2
Residential units
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 - Renovated two-family home with a finished basement, hardwood floors, and a two-vehicle carport on an R6-zoned lot.
Where is this duplex located?
The property is located at 359 Winthrop Street 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: Renovated two‑family home with fully finished basement and two recreational rooms plus bathroom; Split‑level second floor duplex with 8 total bedrooms and terrace area on one bedroom; Hardwood floors throughout with brick construction and asphalt roof
