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1669 HENDRICKSON Street
About This Property
The home presents a classic early 20th-century footprint with strong underlying potential for renovation, redesign, and long-term value creation. Zoned R3-2 with approximately 140 square feet of additional buildable area remaining, the property may appeal to both investors and end-users looking for an opportunity to customize and restore a home in a desirable residential location.
Please note, access is currently limited due to the condition of the property, and there is no confirmed information available regarding bedroom count or the status of the mechanical systems.
The seller will clear the existing tax lien at closing. Anything beyond that will be delivered strictly as-is, and purchaser will be required to take title subject to the existing Unsafe Building lis pendens and any associated violations tied thereto.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 21, 2026 | In contract | - | |
| In contract | |||
| May 18, 2026 | Listed by Douglas Elliman Real Estate | $575,000 | |
| Listed by Douglas Elliman Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017