Two-Unit Residential Income
589 Hinsdale St Brooklyn, NY 11207
New
For Sale
$749,000
Two-unit duplex needs full renovation, featuring upper 3-bedroom unit and first-floor expanded 4-bedroom unit.
Property Size1,800 SF
Price / SF$416.11
Days on Market5
Property Features for 589 Hinsdale St
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1910
Listing Agency:
Corcoran Group
(646) 764-6094
Listed By:
Erica Nieves · License #10401286753
(646) 764-6094
Source:
Elliman
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 25 at 10:06AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This two-unit duplex offers two separate residential apartments in a single property, with a configuration that includes an upper-level unit and an expanded first-floor unit. The upper apartment features three bedrooms and one bathroom with an eat-in kitchen. The first-floor apartment provides four bedrooms and one bathroom and includes an enclosed front porch. The basement is sectioned into multiple rooms, offering additional storage space.
The property is presented as an investor or fixer-upper opportunity and is described as requiring a full renovation. BikeScore, walkScore, and transitScore are provided in the remarks as 56 (Bikeable), 73 (Very Walkable), and 84 (Excellent Transit).
Overall, the layout provides multiple rooms across both units and a multi-room basement, giving room for tailored interior updates in line with the seller’s renovation-driven positioning.
The property is presented as an investor or fixer-upper opportunity and is described as requiring a full renovation. BikeScore, walkScore, and transitScore are provided in the remarks as 56 (Bikeable), 73 (Very Walkable), and 84 (Excellent Transit).
Overall, the layout provides multiple rooms across both units and a multi-room basement, giving room for tailored interior updates in line with the seller’s renovation-driven positioning.
Key Highlights
- Two‑unit duplex built in 1910, with total 1,800 SF and in need of a full renovation
- Upper unit features 3 bedrooms and 1 bathroom with an eat‑in kitchen
- First‑floor unit is an expanded 4‑bedroom, 1‑bathroom layout and includes an enclosed front porch
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 | $91.8k | $51.00 |
| − Vacancy | −$1.7k | −$0.97 |
| EGI | $90.1k | $50.03 |
| − OpEx | −$27.0k | −$15.01 |
| NOI | $63.0k | $35.02 |
1,800 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$900.6K
$788.0K – $1.05M
NOI $63,039 @ 7.0% cap · market cap 8.42%
Second Best
Apartment 5plus
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 7.34%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,328 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex needs full renovation, featuring upper 3-bedroom unit and first-floor expanded 4-bedroom unit.
Where is this duplex located?
The property is located at 589 Hinsdale St Brooklyn, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1910, with total 1,800 SF and in need of a full renovation; Upper unit features 3 bedrooms and 1 bathroom with an eat‑in kitchen; First‑floor unit is an expanded 4‑bedroom, 1‑bathroom layout and includes an enclosed front porch
