Brooklyn Two-Family
589 Mayfair Drive Brooklyn, NY 11234
589 Mayfair Drive, Brooklyn, NY, 11234
$1,249,000
For Sale
$1,249,000
MULTI_FAMILY - Brooklyn, NY
Property Size2,120 SF
Lot Size0.06 Acres
Price / SF$589.15
Days on Market65
Property Features for 589 Mayfair Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bedroom 3, Bathroom 4, Bedroom 5, Bedroom 4, Bathroom 2, Bathroom 5, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 1
- Patio and Porch features
- Porch
- Interior features
- Dishwasher, Microwave, Porch, Refrigerator, Stove
- Basement
- Full, Finished
- 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
(718) 763-4110
Listed by
Tammy Barmack
(718) 763-4110
Added: May 18 Updated: Jul 11 at 6:33PM Checked: Jul 21 at 7:06PM
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.
Investment Insights
Based on property information with market context.
This semi-detached two-family home is located on a tree-lined block in Mill Basin, Brooklyn. Each unit features 3 bedrooms and 1.5 bathrooms, along with granite kitchens and baths. The property includes a finished basement with a bonus room and full bath. There are two separate heating systems. A private two-car driveway is included. The property is situated on a lot of approximately 0.0574 acres. The building has a size of 2120 square feet. The zoning is R5.
Key Highlights
- 2‑family semi‑detached home with 3 bedrooms/1.5 baths over 3 bedrooms/1.5 baths
- Granite kitchens and baths
- Finished basement with bonus room and full baths
Local 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 | $108.1k | $51.00 |
| − Vacancy | −$2.1k | −$0.97 |
| EGI | $106.1k | $50.03 |
| − OpEx | −$31.8k | −$15.01 |
| NOI | $74.2k | $35.02 |
2,120 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family home in Mill Basin with modern amenities and parking.
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: 2‑family semi‑detached home with 3 bedrooms/1.5 baths over 3 bedrooms/1.5 baths; Granite kitchens and baths; Finished basement with bonus room and full baths
