Grove Street

New York

Where Luxury

Meets Living

View Photos Watch Film 360° VTour Open House

Nicholas Hovsepian

Presented At

$1,750,000

Bedrooms

Bathrooms

Living

2,070

sqft

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. - Photo 1

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. - Photo 2

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. - Photo 3

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. - Photo 4

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. - Photo 5

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. - Photo 6

Grove Street

New York

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States. , New York , New York

About This Property

Welcome to 38 Grove Street, a FULLY LEASED, income-producing two-family townhouse located on a quiet residential block in the heart of Bushwick. Spanning two stories plus a full basement and a finished attic, this well-maintained building sits on a 25' x 83.92' lot and offers immediate, stable cash flow with long-term upside.The property currently generates $102,000 in annual gross income with both units on strong leases extending into 2026. With modest annual operating expenses of approximately $9,606, the building delivers an impressive net operating income of $92,394 and an attractive 5.27% cap rate. This is a clean, straightforward investment with predictable performance and minimal management intensity.The building is configured as two spacious duplex residences, each offering multiple bedrooms, generous living and dining areas, and great natural light. The apartments each have central heating and cooling, modern kitchens with full size stainless steel appliances, and in-unit laundry. The additional attic and basement provide valuable flexible space for tenants, further enhancing long-term functionality and flexibility.Perfectly positioned within one of Brooklyn's most active rental markets, 38 Grove Street offers investors a rare combination of strong in-place income, favorable operating metrics, and long-term neighborhood upside.

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3D Street View Tour

Property Location

38 Grove Street, Brooklyn, NY 11221, New York, New York, United States., New York New York

Local Weather & Climate

New York, New York

Current Conditions Updated recently

23 °F

Broken clouds

Feels Like 12°F

Humidity 55%

Wind 9 mph

Visibility 6.2 mi

Sunrise 12:06 PM

Sunset 10:11 PM

5-Day Forecast

Sat 31 Jan

Clouds

High 22°

Low 22°

Sun 1 Feb

Clouds

High 22°

Low 10°

Mon 2 Feb

Clouds

High 30°

Low 11°

Tue 3 Feb

Clouds

High 32°

Low 12°

Wed 4 Feb

Clouds

High 29°

Low 20°

Annual Climate Based on last 12 months

47° Avg Low

Feb

62° Avg High

Jul

157 Rainy Days

per year

Arid

Semi-Arid

Moderate

Wet

52.7" Annual Rainfall

Moderate climate

❄

30 Snow Days

per year

Monthly Temperatures

Jan

34°

22°

Feb

34°

19°

Mar

52°

36°

Apr

63°

46°

May

72°

55°

Jun

83°

66°

Jul

85°

70°

Aug

83°

69°

Sep

76°

63°

Oct

65°

51°

Nov

52°

39°

Dec

39°

26°

Data from OpenWeatherMap & Open-Meteo

Walkability & Transit Scores

How easy is it to get around New York?

Walkability and transit scores for this address come from the EPA National Walkability Index.

Mortgage Calculator

Estimate your monthly payments for this property

Home Price

Down Payment

$100,000

Interest Rate

Loan Term

Estimated Monthly Payment $3,160

Monthly Payment Breakdown

Principal & Interest $2,528

Loan Amount $400,000

Total Interest $337,621

Total Cost $737,621

Potential Tax Benefits (United States)

$0 Est. First Year Interest Deduction

$0 Est. Annual Tax Savings

*Based on post-2017 tax law. Actual deductions depend on filing status, itemization, and current tax laws.

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Important Information

This calculator is for illustrative purposes only and does not constitute a loan offer, pre-approval, or commitment to lend.
Monthly payment estimates do not include property taxes, homeowner's insurance, HOA fees, or other applicable costs which may significantly increase your actual payment.
Interest rates shown are for demonstration only. Actual rates depend on your credit score, down payment, loan type, property location, and current market conditions.
This tool provides estimates only. Consult with a licensed mortgage professional for accurate quotes and personalized advice.
Tax benefit calculations are simplified estimates based on general assumptions for United States. Actual deductions depend on your specific tax situation, filing status, and current tax laws.
Tax Year Information: Tax data shown is based on United States tax year 2025 (fiscal year: January-December), rules effective from 2018 through 2025. Tax laws change frequently and may have been amended since this data was compiled.

Tax Information Disclaimer

The tax benefit information displayed on this page is provided for general informational and educational purposes only. This information:

Does not constitute tax advice and should not be relied upon as such. Tax laws are complex and vary by jurisdiction, individual circumstances, and are subject to change without notice.
May not be current or accurate for your specific situation. Tax rules are updated frequently by governments, and the information shown may not reflect the most recent changes.
Uses simplified assumptions that may not apply to your circumstances, including filing status, total income, other deductions, alternative minimum tax considerations, and local tax variations.
Should not be used as the basis for any tax planning decisions or financial strategies without consulting a qualified tax professional licensed in your jurisdiction.

Before making any decisions based on potential tax benefits, you should consult with a qualified tax advisor, certified public accountant (CPA), or licensed tax professional who can evaluate your specific circumstances and provide advice tailored to your situation.

Limitation of Liability: By using this calculator, you acknowledge that all results are approximations and should not be relied upon for financial, legal, or tax decisions. openluxe, its affiliates, officers, directors, employees, and agents expressly disclaim all liability for any damages, losses, or consequences arising from the use of or reliance on this calculator or the information provided herein. openluxe is not a lender, financial advisor, or tax professional and does not provide mortgage loans, financial advice, or tax advice. Use of this calculator does not create any professional relationship.

Frequently Asked Questions

Common questions about this property

How many bedrooms and bathrooms does 38 Grove Street, Brooklyn, NY 11221, New York, New York, United States have?

This house at 38 Grove Street, Brooklyn, NY 11221, New York, New York, United States features 5 bedrooms with 2,070 square feet of living space.

What is the size of 38 Grove Street, Brooklyn, NY 11221, New York, New York, United States?

This property offers 2,070 square feet of living space.

What is the listing price for 38 Grove Street, Brooklyn, NY 11221, New York, New York, United States?

This property is listed at $175,000,000, which equals $84541 per square foot.

What is the climate like in New York?

New York features a pleasant climate. Average temperatures range from 47°F in winter to 62°F in summer. The area receives approximately 52.7 inches of precipitation annually. There are about 157 days with rain throughout the year. Expect around 30 days with snow. This climate information can help you plan for seasonal activities and energy costs.

What are the best months to visit or move to New York?

New York tends to be warmest in Jul and coldest in Feb. The shoulder seasons of spring and fall often offer the most comfortable weather for moving and outdoor activities.

What type of property is 38 Grove Street, Brooklyn, NY 11221, New York, New York, United States?

This is a house located in New York, New York. The property is situated in an established neighborhood with convenient access to local amenities and services.