Renovated Duplex with Detached
For Sale
$849,000
126-19 115th Avenue, South Ozone Park, NY 11420
Residential, Duplex, South Ozone Park, NY
Property Size1,344 SF
Lot Size0.05 Acres
Price / SF$631.70
Days on Market42
Property Features for 126-19 115th Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R1
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Interior features
Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
South Ozone Park
Standard status
Active
Size
1,344 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5000
Amenities
private driveway
detached garage
generous outdoor space
fully finished basement
high-ceiling attic
Building Details
Year built
1920
Floors in Building
2
Flooring type
Hardwood
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Best Realty Professionals
Listed By:
Katia Belony
(718) 484-3745
Added: Jul 29
Changed: Sep 7
Last Checked: Sep 8 at 8:06PM
MLS# 503394
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 renovated duplex offers 1,344 square feet with three bedrooms and two full bathrooms. The interior combines an open living area with hardwood flooring, recessed lighting, and a remodeled kitchen equipped with custom floor-to-ceiling cabinetry, stainless-steel appliances, a microwave, refrigerator, and stove. A bedroom and full bathroom are located on the first floor, while two additional bedrooms and another full bathroom occupy the upper level. The high-ceiling attic provides storage, and the finished basement includes both interior and exterior access.
The property sits on a 0.0459-acre lot with a private driveway, detached garage, and outdoor space. Built in 1920 and zoned R1, it is located in South Ozone Park near JFK Airport, Resorts World Casino, shopping, restaurants, schools, parks, major highways, and public transportation.
The property sits on a 0.0459-acre lot with a private driveway, detached garage, and outdoor space. Built in 1920 and zoned R1, it is located in South Ozone Park near JFK Airport, Resorts World Casino, shopping, restaurants, schools, parks, major highways, and public transportation.
Key Highlights
- Duplex with 1,344 square feet, three bedrooms, and two full bathrooms
- Finished basement with interior and exterior access
- Private driveway and detached garage
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
$32,853
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
3.87%
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%
$657,060
$657.1K
Cap Rate 7%
$469,329
$469.3K
Cap Rate 9%
$365,033
$365.0K
Market Conditions
NOI Build-Up for 1,344 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
$62.1K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$59.7K $44.44/SF
− OpEx
−$26.9K −$20.00/SF
NOI
$32.9K $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%
$657,060
Cap Rate 7%
$469,329
Cap Rate 9%
$365,033
Alternative Uses
Best Use
Apartment 5plus
$469.3K
$410.7K – $547.6K
NOI $32,853 @ 7.0% cap · market cap 3.87%
Second Best
Multifamily LT 5
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$990.8K
$867.0K – $1.16M
NOI $69,357 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,711
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
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Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom residence with a finished basement, detached garage, and private driveway.
Where is this duplex located?
The property is located at 126-19 115th Avenue South Ozone Park, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Duplex with 1,344 square feet, three bedrooms, and two full bathrooms; Finished basement with interior and exterior access; Private driveway and detached garage
