Residential Income Property with Split
674 Hancock Street 2A, Brooklyn, NY 11233
For Sale
New
$899,000
The condominium has two bedrooms, two full bathrooms, and separate sleeping areas at opposite ends of the home.
Property Size850 SF
Price / SF$1,057
Days on Market7
Property Features for 674 Hancock Street 2A
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit washer/dryer
central heating and cooling
Bluetooth speakers
Building Details
Building Size
Year Built
Listing Agency:
Corcoran Group
Listed By:
Joseph Fundaro · License NY #10401389748
(646) 831-8286
Source:
Howardhannanyc
Added: Nov 9
Changed: Nov 14
Last Checked: Nov 14 at 12:50PM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
Residence 2A is an approximately 850-square-foot condominium with two bedrooms and two full bathrooms. Its split-bedroom plan places the bedrooms at opposite ends of the home. Floor-to-ceiling windows bring natural light into the living and dining area, which connects to an open kitchen with custom cabinetry, quartz counters, and full-size Bertazzoni appliances. The primary bedroom includes a walk-in closet and private bathroom with a soaking tub; the second bedroom has a closet. Central heating and cooling, an in-unit washer and dryer, and Bluetooth speakers are also included.
The property is at 674 Hancock Street in Brooklyn. Nearby dining options named in the listing include Chez Oskar, Peaches HotHouse, and Saraghina, along with independent cafes, restaurants, boutiques, and specialty shops. A, C, and J subway service is nearby.
The property is at 674 Hancock Street in Brooklyn. Nearby dining options named in the listing include Chez Oskar, Peaches HotHouse, and Saraghina, along with independent cafes, restaurants, boutiques, and specialty shops. A, C, and J subway service is nearby.
Key Highlights
- Approximately 850 square feet with two bedrooms and two full bathrooms
- Split‑bedroom layout places the sleeping areas at opposite ends of the condominium
- Open kitchen features quartz counters, custom cabinetry, and full‑size Bertazzoni appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,950
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$519,000
$519.0K
Cap Rate 7%
$370,714
$370.7K
Cap Rate 9%
$288,333
$288.3K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$48.1K $56.64/SF
− Vacancy
−$963 −$1.13/SF
EGI
$47.2K $55.51/SF
− OpEx
−$21.2K −$24.98/SF
NOI
$25.9K $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%
$519,000
Cap Rate 7%
$370,714
Cap Rate 9%
$288,333
Alternative Uses
Best Use
Apartment 5plus
$370.7K
$324.4K – $432.5K
NOI $25,950 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,815
Businesses Nearby
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Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Brooklyn, NY
Properties on Market for Residential income properties in Brooklyn
Frequently Asked Questions
What type of property is this?
Residential income property - The condominium has two bedrooms, two full bathrooms, and separate sleeping areas at opposite ends of the home.
Where is this residential income property located?
The property is located at 674 Hancock Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Approximately 850 square feet with two bedrooms and two full bathrooms; Split‑bedroom layout places the sleeping areas at opposite ends of the condominium; Open kitchen features quartz counters, custom cabinetry, and full‑size Bertazzoni appliances
