Turnkey Two-Family Brooklyn
487 HART St Brooklyn, NY 11221
487 HART St, Brooklyn, NY, 11221
$1,299,000
For Sale
$1,299,000
Well-maintained two-family home with strong cash flow potential.
Property Size1,680 SF
Lot Size0.03 Acres
Price / SF$773.21
Days on Market109
Property Features for 487 HART St
General Information
- Standard status
- Active
- Size
- 1,680 SF
- Lot size
- 0.03 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1901
Listing agency
(917) 397-4014
Listed by
Jacob Henderson · License #10401234914 (NY)
(917) 397-4014
Source
Elliman
Added: Apr 4 Updated: Jul 10 at 12:32PM Checked: Jul 21 at 6:19AM
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 Jacob Henderson
Investment Insights
Based on property information with market context.
Located at 487 Hart Street, this well-maintained two-family stucco townhouse is set on a 20 x 75 lot. The property offers 1,680 square feet of interior space and is configured as two income-producing rental units, generating $93,600 annually. The first-floor residence is a 3-bedroom, 1-bath duplex featuring hardwood floors, ceramic tile flooring in the lower level, and direct access to a private backyard. The top-floor apartment offers a 2-bedroom, 1-bath layout with hardwood floors and a skylight. Both units have renovated kitchens and bathrooms. The property is located in Brooklyn, NY. The bike score is 70, making it very bikeable. The walk score is 82, making it very walkable, and the transit score is 84, indicating excellent transit options. This property is suited for an investor seeking immediate returns or an end user looking to offset ownership costs with rental income.
Key Highlights
- Strong income potential: Generates $93,600 annually with a 6% cap rate.
- Turnkey condition: Both units feature renovated kitchens and bathrooms.
- Two income‑producing units: Configured as a two‑family home.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.7k | $51.00 |
| − Vacancy | −$1.6k | −$0.97 |
| EGI | $84.1k | $50.03 |
| − OpEx | −$25.2k | −$15.01 |
| NOI | $58.8k | $35.02 |
1,680 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$840.5K
$735.5K – $980.6K
NOI $58,836 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$732.7K
$641.1K – $854.8K
NOI $51,289 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,373 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Project: Pitch In, Inc
Charitable Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with strong cash flow potential.
Where is this duplex located?
The property is located at 487 HART St 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: Strong income potential: Generates $93,600 annually with a 6% cap rate.; Turnkey condition: Both units feature renovated kitchens and bathrooms.; Two income‑producing units: Configured as a two‑family home.
