Detached Duplex with Finished
For Sale
$1,150,000
Pending
1304 123rd Street, College Point, NY 11356
Residential Income, College Point, NY
Property Size2,048 SF
Lot Size0.06 Acres
Days on Market201
Property Features for 1304 123rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Parking features
On Street
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Finished, Full
Elementary school
Ps 129 Patricia Larkin
Middle school
Jhs 185 Edward Bleeker
High school
Flushing High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Pending
APN
03997-0027
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7734
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Cooling system
Ductless, Electric
Water source
Public
Amenities
hardwood flooring
split-type air conditioning
fully finished basement with separate entrance
oversized front deck
large backyard
leased solar panels
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood
Building materials
Frame, Vinyl Siding
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Lirong Shao · License #10401362375
(347) 379-3843
Added: Feb 24
Changed: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# 964611
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 detached duplex, built in 1920, provides approximately 2,048 square feet of living space on a 2,500-square-foot lot. The 20-by-50-foot building includes two natural gas heaters, two hot water tanks, split-type air conditioning, hardwood flooring, and a finished basement with a half bath and separate entrance. Interior features include a first-floor bedroom, first-floor full bath, and eat-in kitchen. The property has frame construction with vinyl siding, public water, and public sewer.
Outdoor areas include an oversized front deck and a large backyard. R4A zoning applies, while on-street parking is available. Leased solar panels are installed at the property. The home is approximately a 10-minute drive from Flushing and sits two blocks from the Q20, Q25, and Q26 bus lines. Supermarkets, restaurants, pharmacies, laundromats, libraries, Target, HomeGoods, and BJ’s are nearby.
Outdoor areas include an oversized front deck and a large backyard. R4A zoning applies, while on-street parking is available. Leased solar panels are installed at the property. The home is approximately a 10-minute drive from Flushing and sits two blocks from the Q20, Q25, and Q26 bus lines. Supermarkets, restaurants, pharmacies, laundromats, libraries, Target, HomeGoods, and BJ’s are nearby.
Key Highlights
- Detached two‑family home with approximately 2,048 sq ft of living space
- 2,500 sq ft lot with R4A zoning
- Finished basement with half bath and separate entrance
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
$50,062
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
4.35%
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%
$1,001,240
$1.0M
Cap Rate 7%
$715,171
$715.2K
Cap Rate 9%
$556,244
$556.2K
Market Conditions
NOI Build-Up for 2,048 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
$94.6K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.0K $44.44/SF
− OpEx
−$41.0K −$20.00/SF
NOI
$50.1K $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%
$1,001,240
Cap Rate 7%
$715,171
Cap Rate 9%
$556,244
Alternative Uses
Best Use
Apartment 5plus
$715.2K
$625.8K – $834.4K
NOI $50,062 @ 7.0% cap · market cap 4.35%
Second Best
Multifamily LT 5
$484.3K
$423.7K – $565.0K
NOI $33,898 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,687 @ 7.0% cap · market cap 9.19%
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
1,644
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with separate basement access, outdoor living areas, hardwood floors, and public utilities.
Where is this duplex located?
The property is located at 1304 123rd Street College Point, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Detached two‑family home with approximately 2,048 sq ft of living space; 2,500 sq ft lot with R4A zoning; Finished basement with half bath and separate entrance
