Two-Family Brick Duplex with
For Sale
$799,000
Pending
111-51 113th Street, South Ozone Park, NY 11420
Residential Income, South Ozone Park, NY
Property Size1,440 SF
Lot Size0.04 Acres
Days on Market109
Property Features for 111-51 113th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1
Parking features
Driveway, Garage
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Walk-Out Access
Elementary school
Ps 108 Capt Vincent G Fowler
Middle school
Ms 137 America'S School-Heroes
High school
John Adams High School
Elementary school district
Queens 27
Middle school district
Queens 27
High school district
Queens 27
Standard status
Pending
APN
11618-0043
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6925
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1945
Number of units
2
Building materials
Brick
Listing Agency:
Commerce Realty Group
(718) 751-5799
Listed By:
Marc Richter
(718) 751-5799
Added: May 4
Changed: Aug 20
Last Checked: Aug 20 at 5:06AM
MLS# 1004511
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 two-family brick duplex was built in 1945 and is set up for flexible living or rental use. The first unit features a spacious living room, two bedrooms, one full bathroom, and a modern eat-in kitchen with access to the backyard. The basement includes a full bathroom and is accessible from the backyard, and the second-floor unit offers a practical two-bedroom, one-bath layout.
Property utilities include public water and public sewer, with separate metering: 2 gas meters and 2 electric meters. On-site parking includes a private parking space and a garage, and the home includes window unit and wall/window unit cooling.
Site and building dimensions are listed as a 20x94 lot and a 20x36 house size, for a total of 1,440 SF.
Property utilities include public water and public sewer, with separate metering: 2 gas meters and 2 electric meters. On-site parking includes a private parking space and a garage, and the home includes window unit and wall/window unit cooling.
Site and building dimensions are listed as a 20x94 lot and a 20x36 house size, for a total of 1,440 SF.
Key Highlights
- 20x94 lot and 20x36 house size totaling 1,440 SF
- Built in 1945 brick two‑family duplex
- Two separate gas meters and two electric meters
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
$35,200
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
4.41%
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%
$704,000
$704.0K
Cap Rate 7%
$502,857
$502.9K
Cap Rate 9%
$391,111
$391.1K
Market Conditions
NOI Build-Up for 1,440 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
$66.5K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$64.0K $44.44/SF
− OpEx
−$28.8K −$20.00/SF
NOI
$35.2K $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%
$704,000
Cap Rate 7%
$502,857
Cap Rate 9%
$391,111
Alternative Uses
Best Use
Apartment 5plus
$502.9K
$440.0K – $586.7K
NOI $35,200 @ 7.0% cap · market cap 4.41%
Second Best
Multifamily LT 5
$340.5K
$297.9K – $397.2K
NOI $23,834 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$1.06M
$928.9K – $1.24M
NOI $74,311 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 11420, NY
47,383
Population
14,835
Households
3.2
Avg Household Size
40
Median Age
22%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
22,563
Density / Sq Mi
$98,584
Median Household Income
$45,571
Median Earnings
$2,032
Median Rent
$673,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex built in 1945 with natural gas service, private parking, and a garage plus basement access from the backyard.
Where is this duplex located?
The property is located at 111-51 113th Street South Ozone Park, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 20x94 lot and 20x36 house size totaling 1,440 SF; Built in 1945 brick two‑family duplex; Two separate gas meters and two electric meters
