Renovated Duplex with Private
For Sale
$1,690,000
Pending
20920 23rd Avenue, Bayside, NY 11360
Residential Income, Bayside, NY
Property Size3,265 SF
Lot Size0.09 Acres
Days on Market46
Property Features for 20920 23rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking
4
Parking features
Driveway
Interior features
First Floor Bedroom, Formal Dining, Primary Bathroom
Basement
Finished
Elementary school
Ps 169 Bay Terrace
Middle school
Is 25 Adrien Block
High school
World Journalism Preparatory
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Pending
APN
05893-0045
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
20000
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1975
Number of units
2
Building materials
Brick
Listing Agency:
Sany Realty Group LLC
(718) 799-0726
Listed By:
Ren Wang
(917) 238-7878
Added: Aug 21
Changed: Sep 21
Last Checked: Oct 5 at 7:06AM
MLS# 1041757
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 brick duplex, built in 1975 and renovated in 2019, contains approximately 3,265 square feet on a 40 x 101 lot. The second and third floors each include three bedrooms, two full bathrooms, two living areas, and formal dining space. Additional features include a first-floor bedroom, primary bathroom, basement, electric heating, multi-unit cooling, and a private driveway. The property is being sold as is and can be delivered vacant.
The home is near Bay Terrace Shopping Center, with access to AMC Theatres, Stop & Shop, Starbucks, Dunkin’, USPS, restaurants, cafés, and other shopping. Q13 and Q28 bus service connects to Flushing, while the QM20 express bus provides service to Midtown Manhattan. Public water and public sewer serve the property.
The home is near Bay Terrace Shopping Center, with access to AMC Theatres, Stop & Shop, Starbucks, Dunkin’, USPS, restaurants, cafés, and other shopping. Q13 and Q28 bus service connects to Flushing, while the QM20 express bus provides service to Midtown Manhattan. Public water and public sewer serve the property.
Key Highlights
- Approximately 3,265 sq. ft. of interior space
- 40 x 101 lot with private driveway
- Renovated in 2019; built in 1975
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
$79,811
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
4.72%
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%
$1,596,220
$1.6M
Cap Rate 7%
$1,140,157
$1.1M
Cap Rate 9%
$886,789
$886.8K
Market Conditions
NOI Build-Up for 3,265 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
$150.8K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$145.1K $44.44/SF
− OpEx
−$65.3K −$20.00/SF
NOI
$79.8K $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%
$1,596,220
Cap Rate 7%
$1,140,157
Cap Rate 9%
$886,789
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$997.6K – $1.33M
NOI $79,811 @ 7.0% cap · market cap 4.72%
Second Best
Multifamily LT 5
$772.0K
$675.5K – $900.7K
NOI $54,041 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,490 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
787
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Brick two-family residence with flexible living areas, formal dining, and public water and sewer service.
Where is this duplex located?
The property is located at 20920 23rd Avenue Bayside, NY.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Approximately 3,265 sq. ft. of interior space; 40 x 101 lot with private driveway; Renovated in 2019; built in 1975
