Solid Brick Two-Family
For Sale
$850,000
Pending
631 Hegeman Ave, Brooklyn, NY 11207
Well-maintained semi-attached two-family with three bedrooms per unit, finished basement, and shared driveway parking.
Property Size2,400 SF
Lot Size0.06 Acres
Days on Market148
Property Features for 631 Hegeman Ave
General Information
Standard status
Pending
Size
2,400 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Zoning
R6
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,350
Building Details
Building Size
2,400 SF
Year Built
1930
Stories
2
Tenancy
Multi
Listing Agency:
Brooklyn Real Property Inc
Listed By:
Jean Paul Ho · License #JPH8888
(718) 875-8899
Source:
Elliman
Added: Jun 3
Changed: Oct 27
Last Checked: Oct 26 at 5:50PM
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 Brooklyn Real Property Inc
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Investment Insights
Based on property information with market context.
This solid brick, semi-attached two-family home offers three bedrooms over three bedrooms, along with a large finished basement. The property is described as very well maintained, with a new gas burner and multiple improvements. Unit #1 is currently rented, with rental income stated as $3,910.00. Unit #2 is described as vacant, providing flexibility for an owner-occupant or future tenant layout. A shared driveway supports parking for the household.
The property is located in East New York, Brooklyn. The building size is reported as 20.5 x 60 on a 26.5 x 95 lot. The listing notes R6 zoning and an unused FAR of 3,727. Convenience is highlighted by proximity to restaurants, a large cinema complex, parks, supermarkets, and nearby MTA bus routes B15, B35, and B35LTD. Train access is also noted as close and accessible, including the 2, 3, 4, and 5 services. BikeScore is 73, walkScore is 90, and transitScore is 100.
For buyers seeking a residential income property, this configuration supports either keeping Unit #2 vacant for lease-up or using it as part of a multi-generational or owner-occupied setup while maintaining Unit #1. The combination of maintained condition, finished basement space, and shared driveway parking can be important to tenants and day-to-day living needs.
The property is located in East New York, Brooklyn. The building size is reported as 20.5 x 60 on a 26.5 x 95 lot. The listing notes R6 zoning and an unused FAR of 3,727. Convenience is highlighted by proximity to restaurants, a large cinema complex, parks, supermarkets, and nearby MTA bus routes B15, B35, and B35LTD. Train access is also noted as close and accessible, including the 2, 3, 4, and 5 services. BikeScore is 73, walkScore is 90, and transitScore is 100.
For buyers seeking a residential income property, this configuration supports either keeping Unit #2 vacant for lease-up or using it as part of a multi-generational or owner-occupied setup while maintaining Unit #1. The combination of maintained condition, finished basement space, and shared driveway parking can be important to tenants and day-to-day living needs.
Key Highlights
- Semi‑attached solid brick two‑family built in 1930 in East New York
- 3 bedrooms on both levels (apartment #1 and apartment #2)
- Rental income for apartment #1 is $3,910; apartment #2 is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,270
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,465,400
$1.5M
Cap Rate 7%
$1,046,714
$1.0M
Cap Rate 9%
$814,111
$814.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$135.9K $56.64/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$133.2K $55.51/SF
− OpEx
−$59.9K −$24.98/SF
NOI
$73.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,465,400
Cap Rate 7%
$1,046,714
Cap Rate 9%
$814,111
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 8.62%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,252
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 - Well-maintained semi-attached two-family with three bedrooms per unit, finished basement, and shared driveway parking.
Where is this duplex located?
The property is located at 631 Hegeman Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Semi‑attached solid brick two‑family built in 1930 in East New York; 3 bedrooms on both levels (apartment #1 and apartment #2); Rental income for apartment #1 is $3,910; apartment #2 is vacant
