Two-Unit Residential Income
For Sale
$749,000
Pending
589 Hinsdale Street, Brooklyn, NY 11207
Two-unit duplex needs full renovation, featuring upper 3-bedroom unit and first-floor expanded 4-bedroom unit.
Property Size1,864 SF
Days on Market55
Property Features for 589 Hinsdale Street
General Information
Standard status
Pending
Size
1,864 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,448
Building Details
Building Size
1,864 SF
Year Built
1910
Listing Agency:
Corcoran Group
Listed By:
Erica Nieves · License #10401286753
(646) 764-6094
Source:
Carlinwright
Added: Jul 16
Changed: Sep 6
Last Checked: Sep 8 at 11:30AM
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
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
$65,280
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
8.72%
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%
$1,305,600
$1.3M
Cap Rate 7%
$932,571
$932.6K
Cap Rate 9%
$725,333
$725.3K
Market Conditions
NOI Build-Up for 1,864 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
$95.1K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$93.3K $50.03/SF
− OpEx
−$28.0K −$15.01/SF
NOI
$65.3K $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%
$1,305,600
Cap Rate 7%
$932,571
Cap Rate 9%
$725,333
Alternative Uses
Best Use
Multifamily LT 5
$932.6K
$816.0K – $1.09M
NOI $65,280 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$812.9K
$711.3K – $948.4K
NOI $56,906 @ 7.0% cap · market cap 7.60%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,037 @ 7.0% cap · market cap 14.42%
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
2,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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 - 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 Street 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
