Brick Two-Family
For Sale
$1,138,000
150-24 59 Ave, Flushing, NY 11355
Residential Income, Flushing, NY
Property Size1,633 SF
Lot Size0.04 Acres
Price / SF$696.88
Days on Market124
Property Features for 150-24 59 Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3
Subdivision
Flushing
High school district
25
Standard status
Active
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7505
Utilities
Heating system
Natural Gas, Steam
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Flooring type
Vinyl, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Shengfan Li
(917) 974-0992
Added: Apr 23
Changed: Aug 20
Last Checked: Aug 24 at 2:06PM
MLS# 11729201
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.
This brick duplex townhouse in Flushing was built in 1945 and contains two floors above a finished walk-in basement. The lower level has an 8-foot ceiling, while the home includes three bedrooms and three bathrooms. Kitchens and bathrooms have been renovated. Interior finishes include vinyl and hardwood flooring, with natural-gas steam heat and a flat roof.
The property at 150-24 59 Ave occupies an 18X100 lot. The building measures 18X33 and provides 1633 sf of finished space, along with a 148 sf garage. A private driveway accommodates two vehicles. Public water serves the property, which is located in Queens County, NY 11355.
The property at 150-24 59 Ave occupies an 18X100 lot. The building measures 18X33 and provides 1633 sf of finished space, along with a 148 sf garage. A private driveway accommodates two vehicles. Public water serves the property, which is located in Queens County, NY 11355.
Key Highlights
- Two‑family brick townhouse built in 1945
- 18X100 lot with an 18X33 building footprint
- 1633 sf finished square footage
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
$39,918
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
3.51%
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%
$798,360
$798.4K
Cap Rate 7%
$570,257
$570.3K
Cap Rate 9%
$443,533
$443.5K
Market Conditions
NOI Build-Up for 1,633 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
$75.4K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$72.6K $44.44/SF
− OpEx
−$32.7K −$20.00/SF
NOI
$39.9K $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%
$798,360
Cap Rate 7%
$570,257
Cap Rate 9%
$443,533
Alternative Uses
Best Use
Apartment 5plus
$570.3K
$499.0K – $665.3K
NOI $39,918 @ 7.0% cap · market cap 3.51%
Second Best
Multifamily LT 5
$386.1K
$337.9K – $450.5K
NOI $27,029 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,271 @ 7.0% cap · market cap 7.41%
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
1,728
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Finished lower-level space and a two-car driveway support practical household use.
Where is this duplex located?
The property is located at 150-24 59 Ave Flushing, NY.
What is the asking price?
The asking price for this property is $1,138,000.
What are key features of this property?
This property features: Two‑family brick townhouse built in 1945; 18X100 lot with an 18X33 building footprint; 1633 sf finished square footage
