Two-Story
For Sale
$2,799,000
196-43 45th Road, Flushing, NY 11358
Residential Income, Flushing, NY
Property Size3,500 SF
Lot Size0.14 Acres
Price / SF$799.71
Days on Market41
Property Features for 196-43 45th Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Bathroom 8, Bathroom 5, Bathroom 1, Basement, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 7, Bedroom 8, Bedroom 6, Bathroom 2, Bedroom 7, Bedroom 2
Window features
ENERGY STAR Qualified WIndows
Basement
Finished
Elementary school
Ps 162 John Golden
Middle school
Ms 158 Marie Curie
High school
Francis Lewis High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Directions
Francis Lewis Blvd to 45th Road
Standard status
Active
APN
05538-0052
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12747
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
2025
Number of units
2
Flooring type
Wood
Listing Agency:
Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #10371200613
(888) 278-5840
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 12:06AM
MLS# 1026799
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 two-story duplex is under construction and provides 3,500 square feet of finished area on a 6,000-square-foot lot. The layout includes multiple bedrooms, a basement, and three full bathrooms as described in the property information. Wood flooring, baseboard heating, and natural gas service are among the specified features. A private driveway provides on-site parking for multiple vehicles.
The property is located at 196-43 45th Road in Flushing, Queens, New York 11358. Public water and public sewer serve the property, and natural gas is available. Its 2025 construction date and contemporary two-level configuration distinguish the building within the residential income property category.
The property is located at 196-43 45th Road in Flushing, Queens, New York 11358. Public water and public sewer serve the property, and natural gas is available. Its 2025 construction date and contemporary two-level configuration distinguish the building within the residential income property category.
Key Highlights
- 3,500 square feet of finished area
- 6,000‑square‑foot lot
- Built in 2025 and currently under construction
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
$85,555
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
3.06%
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%
$1,711,100
$1.7M
Cap Rate 7%
$1,222,214
$1.2M
Cap Rate 9%
$950,611
$950.6K
Market Conditions
NOI Build-Up for 3,500 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
$161.7K $46.20/SF
− Vacancy
−$6.1K −$1.76/SF
EGI
$155.6K $44.44/SF
− OpEx
−$70.0K −$20.00/SF
NOI
$85.6K $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%
$1,711,100
Cap Rate 7%
$1,222,214
Cap Rate 9%
$950,611
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,555 @ 7.0% cap · market cap 3.06%
Second Best
Multifamily LT 5
$827.6K
$724.1K – $965.5K
NOI $57,931 @ 7.0% cap · market cap 2.07%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,617 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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 - Under-construction duplex with a private driveway, wood flooring, public utilities, and a contemporary two-level layout.
Where is this duplex located?
The property is located at 196-43 45th Road Flushing, NY.
What is the asking price?
The asking price for this property is $2,799,000.
What are key features of this property?
This property features: 3,500 square feet of finished area; 6,000‑square‑foot lot; Built in 2025 and currently under construction
