Two-Family Brick
For Sale
$1,249,000
589 Mayfair Drive, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size2,120 SF
Lot Size0.06 Acres
Price / SF$589.15
Days on Market162
Property Features for 589 Mayfair Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 5, Bathroom 1, Bedroom 1
Patio and Porch features
Porch
Interior features
Dishwasher, Microwave, Porch, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Mill Basin
Standard status
Active
Size
2,120 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8719
Building Details
Year built
1965
Floors in Building
2
Number of units
2
Flooring type
Granite, Hardwood
Building materials
Brick
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Tammy Barmack
(718) 763-4110
Added: May 18
Changed: Oct 20
Last Checked: Oct 26 at 11:06PM
MLS# 501548
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.
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Investment Insights
Based on property information with market context.
This 1965 brick duplex contains two residential units, each arranged with three bedrooms and one and a half baths. The 2,120-square-foot property also includes granite-finished kitchens and baths, hardwood and granite flooring, and a finished basement with a bonus room and full baths. Separate heating systems serve the two units, while listed appliances include refrigerators, stoves, dishwashers, and microwaves. A porch adds exterior amenity space.
The property occupies a 0.0574-acre lot at 589 Mayfair Drive in Brooklyn, NY 11234. Private driveway parking accommodates two cars. The property is designated R5 and is classified as a duplex within the multifamily property category.
The property occupies a 0.0574-acre lot at 589 Mayfair Drive in Brooklyn, NY 11234. Private driveway parking accommodates two cars. The property is designated R5 and is classified as a duplex within the multifamily property category.
Key Highlights
- Two residential units, each with 3 bedrooms and 1.5 baths
- 2,120 square feet on a 0.0574‑acre lot
- Finished basement with bonus room and full baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,246
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,484,920
$1.5M
Cap Rate 7%
$1,060,657
$1.1M
Cap Rate 9%
$824,956
$825.0K
Market Conditions
NOI Build-Up for 2,120 SF
Gross rent
$108.1K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$106.1K $50.03/SF
− OpEx
−$31.8K −$15.01/SF
NOI
$74.2K $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%
$1,484,920
Cap Rate 7%
$1,060,657
Cap Rate 9%
$824,956
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.1K – $1.24M
NOI $74,246 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$924.6K
$809.0K – $1.08M
NOI $64,721 @ 7.0% cap · market cap 5.18%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $122,875 @ 7.0% cap · market cap 9.84%
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
1,188
Businesses Nearby
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Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Semi-detached residential property with two separate heating systems, private parking, and finished lower-level space.
Where is this duplex located?
The property is located at 589 Mayfair Drive Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 1.5 baths; 2,120 square feet on a 0.0574‑acre lot; Finished basement with bonus room and full baths
