Detached Two-Family
For Sale
$1,280,000
14734 224th Street, Jamaica, NY 11413
Residential Income, Jamaica, NY
Property Size2,130 SF
Lot Size0.08 Acres
Price / SF$600.94
Days on Market40
Property Features for 14734 224th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 3, Basement, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 6, Bedroom 4
Parking features
Driveway
Interior features
First Floor Bedroom, High Ceilings, Open Kitchen
Basement
Full, Finished
Elementary school
Ps 52
Middle school
Community Voices Middle School
High school
Institute For Health Professions At Cambria Heigh
Elementary school district
Queens 29
Middle school district
Queens 29
High school district
Queens 29
Standard status
Active
APN
13436-0076
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8241
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
2019
Number of units
2
Building materials
Brick
Listing Agency:
Prospes Real Estate Corp
(718) 321-2800
Listed By:
Huanyan Li · License #10401267841
(347) 885-8668
Added: Aug 5
Changed: Sep 12
Last Checked: Sep 13 at 4:06AM
MLS# 1035068
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 brick duplex, built in 2019, contains two separate residences. Each floor offers three bedrooms and two full bathrooms, with high ceilings, oversized windows, and open kitchens. A finished basement adds another full bathroom and has its own entrance, providing additional usable space. The property will be delivered vacant.
The home sits at 147-34 224th Street in Jamaica, NY 11413, with access to public water and public sewer service. Laurelton LIRR Station is nearby, with an approximately 30-minute connection to Penn Station and Grand Central. Q111, Q114, and Q85 bus routes serve the area, while the Belt Parkway and JFK Airport are also close. Heating is supplied by natural gas, cooling is provided by window or wall units, and the property includes a driveway.
The home sits at 147-34 224th Street in Jamaica, NY 11413, with access to public water and public sewer service. Laurelton LIRR Station is nearby, with an approximately 30-minute connection to Penn Station and Grand Central. Q111, Q114, and Q85 bus routes serve the area, while the Belt Parkway and JFK Airport are also close. Heating is supplied by natural gas, cooling is provided by window or wall units, and the property includes a driveway.
Key Highlights
- Two separate 3‑bedroom, 2‑full‑bath residences
- Finished basement with full bath and separate entrance potential
- Detached brick construction completed in 2019
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
$52,067
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
4.07%
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%
$1,041,340
$1.0M
Cap Rate 7%
$743,814
$743.8K
Cap Rate 9%
$578,522
$578.5K
Market Conditions
NOI Build-Up for 2,130 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
$98.4K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$94.7K $44.44/SF
− OpEx
−$42.6K −$20.00/SF
NOI
$52.1K $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%
$1,041,340
Cap Rate 7%
$743,814
Cap Rate 9%
$578,522
Alternative Uses
Best Use
Apartment 5plus
$743.8K
$650.8K – $867.8K
NOI $52,067 @ 7.0% cap · market cap 4.07%
Second Best
Multifamily LT 5
$503.6K
$440.7K – $587.6K
NOI $35,255 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,918 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 11413, NY
42,978
Population
14,485
Households
3
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
3.0 sq mi
ZIP Area
14,326
Density / Sq Mi
$114,766
Median Household Income
$50,525
Median Earnings
$2,038
Median Rent
$631,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate three-bedroom residences with finished basement space and a private driveway.
Where is this duplex located?
The property is located at 14734 224th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Two separate 3‑bedroom, 2‑full‑bath residences; Finished basement with full bath and separate entrance potential; Detached brick construction completed in 2019
