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540 STATE Street
About This Property
Spanning 3,280sf of interior space over ten rooms, the residence is currently configured with five bedrooms, three baths, and a spacious kitchen/dining ground level which opens onto a 20'x 36' backyard. In addition, there is a separate laundry room, and lots of possibilities for private work from home spaces.
Over recent years the house has had many upgrades: new boiler, hot water heater, roof/chimney repairs and the installation of a splitter AC system. The house is currently configured as a single-family home, but is legally designated as a 2-family, providing the option for an income generating rental unit.
Situated at the intersection of Boerum Hill/Fort Greene/Park Slope/Downtown Brooklyn, 540 State Street has easy access to one of the best cultural and transportation hubs in all of New York City. Whether it is play at BAM, an event at Barclays Center, the Fort Greene Farmers Market on Saturday, a trip to the Apple Store, Trader Joes and Whole Foods, or the LIRR to the beach, nothing is very far away.
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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 28, 2026 | Listed by Brown Harris Stevens Brooklyn LLC | $3,995,000 | |
| Listed by Brown Harris Stevens Brooklyn LLC | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017