Two-Family Duplex with
New
For Sale
$995,000
21531 Hollis Avenue, Queens Village, NY 11429
Residential Income, Queens Village, NY
Property Size2,340 SF
Lot Size0.10 Acres
Price / SF$425.21
Days on Market1
Property Features for 21531 Hollis Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 2, Basement, Bedroom 3, Bathroom 4, Bedroom 1
Parking features
Driveway, On Street, Garage
Interior features
First Floor Bedroom, First Floor Full Bath, Open Kitchen
Exterior features
Balcony
Basement
Unfinished
Elementary school
Ps 34 John Harvard
Middle school
Jean Nuzzi Intermediate School
High school
Pathways College Preparatory School
Elementary school district
Queens 29
Middle school district
Queens 29
High school district
Queens 29
Directions
Please use GPS navigation
Standard status
Active
APN
11101-0076
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8239
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
2007
Number of units
2
Flooring type
Hardwood
Building materials
Stucco
Listing Agency:
VYLLA Home
(888) 575-2773
Listed By:
Xavier Beckford SFR · License #10401370931
(646) 339-0090
Added: Sep 13
Last Checked: Sep 13 at 7:06PM
MLS# 1050196
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.
Built in 2007, this two-family duplex contains 2,340 square feet within an 18-by-65-foot building footprint. The property occupies a 25-by-170-foot lot, with two separate residential units, a basement, hardwood flooring, stucco construction, and a balcony. Interior features include an open kitchen, a first-floor bedroom, and a first-floor full bath.
The property is located at 215-31 Hollis Avenue in Queens Village, with access to buses, the LIRR, shopping, schools, and houses of worship. The stated Walk Score is 78 and Transit Score is 79. Parking includes a driveway, garage, and on-street options. Public water and public sewer serve the property, with natural-gas baseboard heat and window or wall/window unit cooling.
The property is located at 215-31 Hollis Avenue in Queens Village, with access to buses, the LIRR, shopping, schools, and houses of worship. The stated Walk Score is 78 and Transit Score is 79. Parking includes a driveway, garage, and on-street options. Public water and public sewer serve the property, with natural-gas baseboard heat and window or wall/window unit cooling.
Key Highlights
- 2007‑built two‑family property with 2,340 square feet
- 25‑by‑170‑foot lot with an 18‑by‑65‑foot building footprint
- Two separate residential units plus basement
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
$57,200
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
5.75%
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%
$1,144,000
$1.1M
Cap Rate 7%
$817,143
$817.1K
Cap Rate 9%
$635,556
$635.6K
Market Conditions
NOI Build-Up for 2,340 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
$108.1K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.0K $44.44/SF
− OpEx
−$46.8K −$20.00/SF
NOI
$57.2K $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%
$1,144,000
Cap Rate 7%
$817,143
Cap Rate 9%
$635,556
Alternative Uses
Best Use
Apartment 5plus
$817.1K
$715.0K – $953.3K
NOI $57,200 @ 7.0% cap · market cap 5.75%
Second Best
Multifamily LT 5
$553.3K
$484.1K – $645.5K
NOI $38,731 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,755 @ 7.0% cap · market cap 12.14%
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
1,828
Businesses Nearby
Explore this area
Business Placement
Demographics for 11429, NY
25,895
Population
8,601
Households
3
Avg Household Size
41
Median Age
27%
College-Educated
84%
High-School Grad
1.3 sq mi
ZIP Area
19,919
Density / Sq Mi
$98,232
Median Household Income
$45,053
Median Earnings
$1,605
Median Rent
$646,200
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 - Two separate residential units with hardwood flooring, a balcony, public utilities, and driveway, garage, and on-street parking.
Where is this duplex located?
The property is located at 21531 Hollis Avenue Queens Village, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2007‑built two‑family property with 2,340 square feet; 25‑by‑170‑foot lot with an 18‑by‑65‑foot building footprint; Two separate residential units plus basement
