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 Market104
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: Oct 27
Last Checked: Oct 26 at 11:17PM
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
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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 / Yr
$65,280
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,109
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
