Flexible-Layout Duplex with
For Sale
$899,000
Pending
964 Hemlock Street, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size2,537 SF
Lot Size0.04 Acres
Days on Market181
Property Features for 964 Hemlock Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage, Driveway
Interior features
First Floor Bedroom
Standard status
Pending
APN
04529-0117
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6503
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
2005
Number of units
3
Building materials
Brick, Frame
Listing Agency:
Keller Williams Realty Greater
(516) 873-7100
Listed By:
Davidson Joseph
(917) 415-1060
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 9 at 12:06PM
MLS# 971541
Copyright © 2026 OneKey MLS. 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 legal duplex, built in 2005, offers approximately 2,537 sq ft with six bedrooms and three bathrooms. The interior can support either a three-bedroom-over-three-bedroom arrangement or a three-bedroom upper level paired with two bedrooms and a separate one-bedroom configuration. A first-floor bedroom adds flexibility, while the property also includes a garage, driveway, and private backyard. Brick and frame construction is complemented by natural-gas heating and wall or window unit cooling. The 0.0413-acre lot has public water and public sewer service, with cable available. Located in Brooklyn, the property is identified with ZIP Code 11208.
Key Highlights
- Legal duplex with 6 bedrooms and 3 bathrooms
- Approximately 2,537 sq ft of living space
- Flexible layouts include 3 bedrooms over 3 bedrooms or 3 bedrooms over 2 bedrooms plus 1 bedroom
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
$65,126
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
7.24%
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%
$1,302,520
$1.3M
Cap Rate 7%
$930,371
$930.4K
Cap Rate 9%
$723,622
$723.6K
Market Conditions
NOI Build-Up for 2,537 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
$97.4K $38.40/SF
− Vacancy
−$4.4K −$1.73/SF
EGI
$93.0K $36.67/SF
− OpEx
−$27.9K −$11.00/SF
NOI
$65.1K $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%
$1,302,520
Cap Rate 7%
$930,371
Cap Rate 9%
$723,622
Alternative Uses
Best Use
Multifamily LT 5
$930.4K
$814.1K – $1.09M
NOI $65,126 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$828.4K
$724.9K – $966.5K
NOI $57,989 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,663 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,196
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick-and-frame duplex with a private backyard and adaptable multi-bedroom living arrangements.
Where is this duplex located?
The property is located at 964 Hemlock Street 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: Legal duplex with 6 bedrooms and 3 bathrooms; Approximately 2,537 sq ft of living space; Flexible layouts include 3 bedrooms over 3 bedrooms or 3 bedrooms over 2 bedrooms plus 1 bedroom
