Detached Brick Two-Family Cape
For Sale
$999,999
Pending
133-41 123rd Street, South Ozone Park, NY 11420
MULTI_FAMILY - South Ozone Park, NY
Property Size2,341 SF
Lot Size0.09 Acres
Days on Market365
Property Features for 133-41 123rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3
Interior features
Entrance Foyer, Master Downstairs
Subdivision
South Ozone Park
Standard status
Pending
Size
2,341 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
7199
Amenities
backyard
Building Details
Year built
1945
Listing Agency:
JENEFER JOSEPH & ASSOCIATES INC
Listed By:
Jenefer Joseph
Added: Aug 21, 2025
Changed: Aug 17
Last Checked: Aug 20 at 10:06AM
MLS# 11889479
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.
Detached brick Cape Cod-style two-family home in South Ozone Park with a private driveway providing off-street parking and a backyard for outdoor use. Built in 1945, the property sits on a 0.0918-acre lot and totals 2,341 square feet.
The home features a classic Cape layout, with each unit offering bright living spaces, well-proportioned bedrooms, and eat-in kitchens. Interior details include hardwood floors and classic finishes, and the property lists an entrance foyer and a master downstairs.
With two units under one roof, the layout supports end-user living with supplemental rental use or an investor strategy centered on a two-family configuration. Conveniently positioned near major roadways, shopping, schools, and public transportation, the property offers practical everyday access for residents.
The home features a classic Cape layout, with each unit offering bright living spaces, well-proportioned bedrooms, and eat-in kitchens. Interior details include hardwood floors and classic finishes, and the property lists an entrance foyer and a master downstairs.
With two units under one roof, the layout supports end-user living with supplemental rental use or an investor strategy centered on a two-family configuration. Conveniently positioned near major roadways, shopping, schools, and public transportation, the property offers practical everyday access for residents.
Key Highlights
- Detached brick two‑family Cape Cod home
- 0.0918‑acre lot with backyard
- 2,341 SF total living area
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
$57,224
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
5.72%
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%
$1,144,480
$1.1M
Cap Rate 7%
$817,486
$817.5K
Cap Rate 9%
$635,822
$635.8K
Market Conditions
NOI Build-Up for 2,341 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
$108.2K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.0K $44.44/SF
− OpEx
−$46.8K −$20.00/SF
NOI
$57.2K $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%
$1,144,480
Cap Rate 7%
$817,486
Cap Rate 9%
$635,822
Alternative Uses
Best Use
Apartment 5plus
$817.5K
$715.3K – $953.7K
NOI $57,224 @ 7.0% cap · market cap 5.72%
Second Best
Multifamily LT 5
$553.5K
$484.3K – $645.8K
NOI $38,747 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,807 @ 7.0% cap · market cap 12.08%
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
1,260
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 - Detached two-family Cape Cod with hardwood floors, eat-in kitchens, and a private driveway for off-street parking.
Where is this duplex located?
The property is located at 133-41 123rd Street South Ozone Park, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Detached brick two‑family Cape Cod home; 0.0918‑acre lot with backyard; 2,341 SF total living area
