2-Family Duplex with Finished
For Sale
$1,048,000
Pending
13-15 124th St, College Point, NY 11356
MULTI_FAMILY - College Point, NY
Property Size2,520 SF
Lot Size0.06 Acres
Days on Market150
Property Features for 13-15 124th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 4, Bedroom 3
Interior features
Entrance Foyer
Fencing
Fenced
High school district
NYC Geographic District #25
Directions
Take 14th Ave To 124th St
Standard status
Pending
APN
000000-000.000-4000-017.000
Size
2,520 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7473
Utilities
Heating system
Natural Gas, Baseboard, Steam
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Flooring type
Laminate
Building materials
Vinyl Siding
Roof type
Rubber
Additional Structures
Workshop
Listing Agency:
SIGMA GROUP Real Estate
(917) 267-2305
Listed By:
Stacey Tzortzatos
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 12 at 12:06AM
MLS# 11674135
Copyright © 2026 My State 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.
Two-family duplex located at 13-15 124th St in College Point. Built in 1920, the home features vinyl siding and a rubber roof, with laminate flooring throughout. Interior highlights include an entrance foyer and baseboard heating supported by steam heat and natural gas. A finished basement with a separate entrance adds flexibility for additional living space, workspace, or other use (verify use). The property also includes a fenced perimeter.
Zoned R4A with additional buildable potential, the home is positioned in the heart of College Point near neighborhood conveniences, local parks, schools, and places of worship, with proximity to major routes for everyday commuting.
Recent improvements include a newly installed roof, heating system, and hot water heater, supporting comfortable immediate occupancy with the opportunity to enhance over time.
Zoned R4A with additional buildable potential, the home is positioned in the heart of College Point near neighborhood conveniences, local parks, schools, and places of worship, with proximity to major routes for everyday commuting.
Recent improvements include a newly installed roof, heating system, and hot water heater, supporting comfortable immediate occupancy with the opportunity to enhance over time.
Key Highlights
- 2‑family duplex with finished basement and separate entrance
- Zoned R4A with additional buildable potential
- Newly installed roof, heating system, and hot water heater
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
$61,600
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
5.88%
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%
$1,232,000
$1.2M
Cap Rate 7%
$880,000
$880.0K
Cap Rate 9%
$684,444
$684.4K
Market Conditions
NOI Build-Up for 2,520 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
$116.4K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$112.0K $44.44/SF
− OpEx
−$50.4K −$20.00/SF
NOI
$61.6K $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%
$1,232,000
Cap Rate 7%
$880,000
Cap Rate 9%
$684,444
Alternative Uses
Best Use
Apartment 5plus
$880.0K
$770.0K – $1.03M
NOI $61,600 @ 7.0% cap · market cap 5.88%
Second Best
Multifamily LT 5
$595.9K
$521.4K – $695.2K
NOI $41,710 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,044 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - Two-family duplex with fenced yard, finished basement, and updated roof, heating, and hot water heater; zoned R4A.
Where is this duplex located?
The property is located at 13-15 124th St College Point, NY.
What is the asking price?
The asking price for this property is $1,048,000.
What are key features of this property?
This property features: 2‑family duplex with finished basement and separate entrance; Zoned R4A with additional buildable potential; Newly installed roof, heating system, and hot water heater
