Legal Two-Family
For Sale
$990,000
Pending
1010 Bay 25th Street, Far Rockaway, NY 11691
Residential Income, Far Rockaway, NY
Property Size2,500 SF
Lot Size0.12 Acres
Days on Market161
Property Features for 1010 Bay 25th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Basement, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 4, Dining Room, Bathroom 2
Parking
1
Parking features
Off Street
Interior features
Eat-in Kitchen, Formal Dining, Granite Counters, Storage, Walk-In Closet(s), Washer/Dryer Hookup
Basement
Full
Elementary school
Ps 104 Bays Water
Middle school
Village Academy
Elementary school district
Queens 27
Middle school district
Queens 27
High school district
Queens 27
Directions
From Long Island: Take Southern State Parkway West - Merge onto Belt Parkway West toward JFK Airport - Take exit toward Rockaway Blvd / Nassau Expy (NY-878) - Continue on Nassau Expressway ? becomes Rockaway Blvd - Follow signs for Rockaway / Beach Channel Drive - Turn onto Beach Channel Drive - Turn left onto Bay 25th Street - Continue to 1010 Bay 25th Street (on your right)
Standard status
Pending
APN
15732-0067
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7713
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1950
Number of units
2
Building materials
Brick
Additional Structures
Storage
Listing Agency:
Signature Premier Properties
(631) 642-2300
Listed By:
Carolyn Davis
(718) 406-2552
Added: Apr 23
Changed: Sep 28
Last Checked: Sep 30 at 1:06PM
MLS# 989809
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 two-family residence contains approximately 2,500 square feet of living space and 3,500 square feet of usable space, including a partially finished basement. The layout provides two separate three-bedroom units, six bedrooms, and five bathrooms. Both residences include formal living and dining areas, hardwood flooring, and kitchens; the upper unit also features a renovated kitchen, primary-bedroom closets, and a private mini balcony.
The basement adds a full bathroom, wet bar hookup, storage rooms, built-in shelving, and laundry appliances. The fenced property includes off-street parking and public water and sewer service. Brick construction, natural-gas heating, and newer roof, windows, doors, boiler, and water heater are additional physical features. The property is located on Bay 25th Street in Far Rockaway’s Bayswater section.
The basement adds a full bathroom, wet bar hookup, storage rooms, built-in shelving, and laundry appliances. The fenced property includes off-street parking and public water and sewer service. Brick construction, natural-gas heating, and newer roof, windows, doors, boiler, and water heater are additional physical features. The property is located on Bay 25th Street in Far Rockaway’s Bayswater section.
Key Highlights
- Legal 2‑family layout with two separate 3‑bedroom units
- Approximately 2,500 sq ft of living space and 3,500 sq ft of usable space
- 6 bedrooms and 5 bathrooms, including a basement bathroom
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
$61,111
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
6.17%
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%
$1,222,220
$1.2M
Cap Rate 7%
$873,014
$873.0K
Cap Rate 9%
$679,011
$679.0K
Market Conditions
NOI Build-Up for 2,500 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
$115.5K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$111.1K $44.44/SF
− OpEx
−$50.0K −$20.00/SF
NOI
$61.1K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,222,220
Cap Rate 7%
$873,014
Cap Rate 9%
$679,011
Alternative Uses
Best Use
Apartment 5plus
$873.0K
$763.9K – $1.02M
NOI $61,111 @ 7.0% cap · market cap 6.17%
Second Best
Multifamily LT 5
$591.1K
$517.2K – $689.7K
NOI $41,379 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,012 @ 7.0% cap · market cap 13.03%
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
1,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick property with two separate three-bedroom residences and a partially finished basement.
Where is this duplex located?
The property is located at 1010 Bay 25th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Legal 2‑family layout with two separate 3‑bedroom units; Approximately 2,500 sq ft of living space and 3,500 sq ft of usable space; 6 bedrooms and 5 bathrooms, including a basement bathroom
