Renovated Two-Family
For Sale
Contact for pricing
1065 Hegeman Ave, Brooklyn, NY 11208
Recently renovated two-family house with modern kitchens and comfortable living.
Property Size2,000 SF
Price / SF$475
Days on Market718
Property Features for 1065 Hegeman Ave
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Mixed Use
Listing Agency:
MYRTLE D REALTY
Listed By:
Dottie Lawrence
Source:
Crexi
Added: Sep 26, 2024
Changed: Sep 2
Last Checked: Sep 12 at 6:31AM
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 MYRTLE D REALTY
Investment Insights
Based on property information with market context.
This is a renovated two-family house featuring modern kitchens. The house has been recently renovated to offer comfortable and luxurious living spaces. An open-concept layout connects the living, dining, and kitchen areas. The first floor has three bedrooms, a full kitchen with new appliances, and a wheelchair-accessible bathroom. The second floor also features three bedrooms and a full kitchen with new appliances. Both kitchens are equipped with stainless steel appliances, cabinetry, and countertops. Each floor has bedrooms with closets. The two bathrooms have been recently renovated. The backyard is accessible directly from the house and yard and is suitable for recreational activities. There is also space for a garden. Parking space is available. The property size is 2000 square feet.
Key Highlights
- Two fully renovated units, each with 3 bedrooms and modern kitchens.
- Top‑of‑the‑line stainless steel appliances, sleek cabinetry, and stylish countertops in both kitchens.**
- Open‑concept layout perfect for entertaining and family time.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,341
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,026,820
$1.0M
Cap Rate 7%
$733,443
$733.4K
Cap Rate 9%
$570,456
$570.5K
Market Conditions
NOI Build-Up for 2,000 SF
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.
Gross rent
$76.8K $38.40/SF
− Vacancy
−$3.5K −$1.73/SF
EGI
$73.3K $36.67/SF
− OpEx
−$22.0K −$11.00/SF
NOI
$51.3K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,026,820
Cap Rate 7%
$733,443
Cap Rate 9%
$570,456
Alternative Uses
Best Use
Multifamily LT 5
$733.4K
$641.8K – $855.7K
NOI $51,341 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$653.1K
$571.4K – $761.9K
NOI $45,714 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,663 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Recently renovated two-family house with modern kitchens and comfortable living.
Where is this duplex located?
The property is located at 1065 Hegeman Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two fully renovated units, each with 3 bedrooms and modern kitchens.; Top‑of‑the‑line stainless steel appliances, sleek cabinetry, and stylish countertops in both kitchens.**; Open‑concept layout perfect for entertaining and family time.
