Detached Two-Family Home with Finished
For Sale
$1,300,000
15833 73 Avenue, Fresh Meadows, NY 11366
MULTI_FAMILY - Fresh Meadows, NY
Property Size1,632 SF
Lot Size0.10 Acres
Price / SF$796.57
Days on Market148
Property Features for 15833 73 Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1
Parking features
Parking Lot
Interior features
First Floor Bedroom, First Floor Full Bath, Open Kitchen
Basement
Finished
Standard status
Active
APN
Block 6821 Lot 10
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9954
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1955
Number of units
2
Building materials
Frame
Listing Agency:
Sany Realty Group LLC
(718) 799-0726
Listed By:
JingYun Chen · License #40CH1142286
(718) 799-0726
Added: Mar 19
Changed: Aug 4
Last Checked: Aug 13 at 9:06AM
MLS# 974172
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.
Detached two-family home offering a functional layout with abundant natural light, built with frame construction in 1955. The interior includes an open kitchen and first-floor bedroom with a first-floor full bath. A fully finished basement includes a separate entrance, providing additional living or recreational space. Utilities include natural gas availability, public water, and public sewer. Window and wall/window unit cooling, along with natural gas heating, support year-round comfort.
The home sits on a 50*85 lot and is described as having strong expansion potential, with zoning listed as R3-2 and an opportunity to explore enlarging the property over 3,000 square feet subject to verification and approvals. Parking is listed as a parking lot. Convenient access is noted to Q30, Q31, and Q17 buses and the LIE (I-495), with the property also described as close to shopping, supermarkets, restaurants, parks, and more.
This configuration supports end-user flexibility while also accommodating multiple living arrangements.
The home sits on a 50*85 lot and is described as having strong expansion potential, with zoning listed as R3-2 and an opportunity to explore enlarging the property over 3,000 square feet subject to verification and approvals. Parking is listed as a parking lot. Convenient access is noted to Q30, Q31, and Q17 buses and the LIE (I-495), with the property also described as close to shopping, supermarkets, restaurants, parks, and more.
This configuration supports end-user flexibility while also accommodating multiple living arrangements.
Key Highlights
- Detached two‑family home on a 50*85 lot with R3‑2 zoning
- Fully finished basement with separate entrance for extra living or recreation space
- Approximately 1,632 SF interior and a functional layout with abundant natural light
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
$39,893
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
3.07%
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%
$797,860
$797.9K
Cap Rate 7%
$569,900
$569.9K
Cap Rate 9%
$443,256
$443.3K
Market Conditions
NOI Build-Up for 1,632 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
$72.5K $44.44/SF
− OpEx
−$32.6K −$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%
$797,860
Cap Rate 7%
$569,900
Cap Rate 9%
$443,256
Alternative Uses
Best Use
Apartment 5plus
$569.9K
$498.7K – $664.9K
NOI $39,893 @ 7.0% cap · market cap 3.07%
Second Best
Multifamily LT 5
$385.9K
$337.7K – $450.2K
NOI $27,012 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,219 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,276
Businesses Nearby
Explore this area
Business Placement
Demographics for 11366, NY
14,430
Population
4,915
Households
2.9
Avg Household Size
41
Median Age
52%
College-Educated
85%
High-School Grad
1.5 sq mi
ZIP Area
9,620
Density / Sq Mi
$117,402
Median Household Income
$58,028
Median Earnings
$2,101
Median Rent
$950,200
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 home with a fully finished basement and separate entrance on an R3-2 lot.
Where is this duplex located?
The property is located at 15833 73 Avenue Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Detached two‑family home on a 50*85 lot with R3‑2 zoning; Fully finished basement with separate entrance for extra living or recreation space; Approximately 1,632 SF interior and a functional layout with abundant natural light
