Fully Brick Two-Family
For Sale
$1,890,000
Pending
203-55 27th Avenue, Bayside, NY 11360
Residential Income, Bayside, NY
Property Size3,250 SF
Lot Size0.12 Acres
Days on Market106
Property Features for 203-55 27th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Basement, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking
6
Parking features
Garage
Interior features
Recessed Lighting
Fencing
Chain Link
Basement
Walk-Out Access, Finished
Elementary school
Ps 159
Middle school
Ms 158 Marie Curie
High school
Bayside High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Directions
Google Maps.
Standard status
Pending
APN
05975-0068
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16350
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1960
Number of units
2
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Tapestry Real Estate of Queens
(718) 460-1943
Listed By:
Kevin M. OConnell
(917) 584-3983
Added: May 11
Changed: Aug 20
Last Checked: Aug 24 at 6:06PM
MLS# 997709
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 fully brick Colonial duplex, built in 1960, contains two separate apartments, each arranged with three bedrooms and two bathrooms. Primary bedrooms include ensuite baths. The residence also offers a full basement with front and rear access, a half bath, separate heating zones, and gas-fired hot-water heat. Window and wall/window units provide cooling, while recessed lighting is included within the interior. An attached two-car garage is positioned at the front of the home.
The property occupies a 0.1187-acre lot at 203-55 27th Avenue in Bayside, Queens, with a 26 x 50 building footprint and south-facing exposure. Public water and public sewer serve the property. A chain-link fence is also present.
The property occupies a 0.1187-acre lot at 203-55 27th Avenue in Bayside, Queens, with a 26 x 50 building footprint and south-facing exposure. Public water and public sewer serve the property. A chain-link fence is also present.
Key Highlights
- Two‑family duplex with 3 bedrooms and 2 bathrooms in each apartment
- Fully brick exterior with Colonial architectural style; built in 1960
- Full basement with front and rear access, a 1/2 bath, and separate heating zones
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
$79,444
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
4.20%
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%
$1,588,880
$1.6M
Cap Rate 7%
$1,134,914
$1.1M
Cap Rate 9%
$882,711
$882.7K
Market Conditions
NOI Build-Up for 3,250 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
$150.2K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$144.4K $44.44/SF
− OpEx
−$65.0K −$20.00/SF
NOI
$79.4K $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%
$1,588,880
Cap Rate 7%
$1,134,914
Cap Rate 9%
$882,711
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$993.1K – $1.32M
NOI $79,444 @ 7.0% cap · market cap 4.20%
Second Best
Multifamily LT 5
$768.5K
$672.4K – $896.6K
NOI $53,793 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,716 @ 7.0% cap · market cap 8.87%
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
1,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 11360, NY
20,039
Population
9,874
Households
2
Avg Household Size
52
Median Age
49%
College-Educated
87%
High-School Grad
1.4 sq mi
ZIP Area
14,314
Density / Sq Mi
$100,250
Median Household Income
$67,810
Median Earnings
$2,329
Median Rent
$692,600
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 - Well-maintained Colonial duplex with separate apartments, basement utility space, and an attached garage.
Where is this duplex located?
The property is located at 203-55 27th Avenue Bayside, NY.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Two‑family duplex with 3 bedrooms and 2 bathrooms in each apartment; Fully brick exterior with Colonial architectural style; built in 1960; Full basement with front and rear access, a 1/2 bath, and separate heating zones
