Renovated Brick
For Sale
$759,000
557 Drew Street, Brooklyn, NY 11208
Residential, Duplex, Brooklyn, NY
Property Size1,400 SF
Lot Size0.05 Acres
Price / SF$542.14
Days on Market11
Property Features for 557 Drew Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3
Interior features
Dishwasher, Dryer, Laundry Area, Refrigerator, Stove, Terrace, Washer, Window Treatments
Basement
Full, Unfinished
Subdivision
East New York
Standard status
Active
Size
1,400 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5358
Amenities
fenced backyard
rear porch
separate entrance
unfinished basement
summer kitchenette
Building Details
Year built
1910
Floors in Building
2
Flooring type
Tile
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Gennadi B. Barmin
(718) 612-3088
Added: Aug 19
Last Checked: Aug 29 at 3:06PM
MLS# 503912
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.
This attached, all-brick duplex was built in 1910 and has been recently renovated. The upper level includes four rooms and a full bathroom. The main level offers a foyer, living room, bedroom, bathroom with a stand-up shower, and an open kitchen with access to a rear porch. A full unfinished basement provides a separate entrance and connects to the backyard. Interior features include a dishwasher, range, refrigerator, washer, dryer, laundry area, tile flooring, and window treatments.
The property occupies a 20' x 100' lot and contains approximately 1,400 square feet within a 20' x 35' building. R4 zoning applies. The address is near Belt Parkway, the A train at Grant Avenue, PS 214, supermarkets, banks, and religious institutions.
The property occupies a 20' x 100' lot and contains approximately 1,400 square feet within a 20' x 35' building. R4 zoning applies. The address is near Belt Parkway, the A train at Grant Avenue, PS 214, supermarkets, banks, and religious institutions.
Key Highlights
- Recently renovated attached all‑brick duplex built in 1910
- 20' x 100' lot with a 20' x 35' building
- Approximately 1,400 square feet of building area
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
$35,939
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
4.74%
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%
$718,780
$718.8K
Cap Rate 7%
$513,414
$513.4K
Cap Rate 9%
$399,322
$399.3K
Market Conditions
NOI Build-Up for 1,400 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
$53.8K $38.40/SF
− Vacancy
−$2.4K −$1.73/SF
EGI
$51.3K $36.67/SF
− OpEx
−$15.4K −$11.00/SF
NOI
$35.9K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$718,780
Cap Rate 7%
$513,414
Cap Rate 9%
$399,322
Alternative Uses
Best Use
Multifamily LT 5
$513.4K
$449.2K – $599.0K
NOI $35,939 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$856.6K
$749.6K – $999.4K
NOI $59,964 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Attached brick residence with separate entrances, an unfinished basement, and a fenced rear yard.
Where is this duplex located?
The property is located at 557 Drew Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: Recently renovated attached all‑brick duplex built in 1910; 20' x 100' lot with a 20' x 35' building; Approximately 1,400 square feet of building area
