Legal 2-Family
For Sale
$979,000
Pending
2477 Margaret Street, Bellmore, NY 11710
Residential Income, Bellmore, NY
Property Size2,339 SF
Lot Size0.14 Acres
Days on Market106
Property Features for 2477 Margaret Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Rooms
Bedroom 2, Basement, Bedroom 3, Bedroom 1
Parking
4
Parking features
Driveway
Window features
Blinds
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Kitchen Island, Open Floorplan, Open Kitchen, Washer/Dryer Hookup
Fireplace
1
Basement
Crawl Space
Elementary school
Shore Road School
Middle school
Grand Avenue Middle School
High school
John F Kennedy High School
Elementary school district
Bellmore
Middle school district
Bellmore-Merrick
High school district
Bellmore-Merrick
Directions
Merrick Ave to Margaret St
Standard status
Pending
APN
2089-63-212-00-0120-0
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
15062
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
fireplace
attic for storage
solar panels
Building Details
Year built
1951
Number of units
2
Flooring type
Combination
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Maria Carrasquillo CBR
(516) 640-7905
Added: Jun 14
Changed: Sep 14
Last Checked: Sep 27 at 5:06PM
MLS# 1013325
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 legal 2-family duplex, built in 1951, contains approximately 2,339 square feet of living space on a 0.1423-acre fenced property. The first-floor residence includes two bedrooms, 1.5 baths, an open living and kitchen area, an eat-in kitchen, kitchen island, and fireplace. The upper unit provides three bedrooms, one full bath, and a functional living arrangement. A full attic adds storage, while the detached 2-car garage and driveway provide parking for 4+ cars. Solar panels are leased, and the home is serviced by public water and public sewer. Located at 2477 Margaret Street in Bellmore, the property also includes a basement, vinyl siding, combination flooring, oil heat, and wall/window cooling units.
Key Highlights
- Legal 2‑family property with approximately 2,339 square feet of living space
- 0.1423‑acre fenced property at 2477 Margaret Street, Bellmore, NY 11710
- First‑floor unit has 2 bedrooms, 1.5 baths, open living and kitchen areas, and a fireplace
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
$44,561
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
4.55%
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%
$891,220
$891.2K
Cap Rate 7%
$636,586
$636.6K
Cap Rate 9%
$495,122
$495.1K
Market Conditions
NOI Build-Up for 2,339 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
$67.4K $28.80/SF
− Vacancy
−$3.7K −$1.58/SF
EGI
$63.7K $27.22/SF
− OpEx
−$19.1K −$8.16/SF
NOI
$44.6K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$891,220
Cap Rate 7%
$636,586
Cap Rate 9%
$495,122
Alternative Uses
Best Use
Multifamily LT 5
$636.6K
$557.0K – $742.7K
NOI $44,561 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$596.0K
$521.5K – $695.4K
NOI $41,722 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,255 @ 7.0% cap · market cap 11.06%
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
1,357
Businesses Nearby
Explore this area
Business Placement
Demographics for 11710, NY
35,155
Population
11,717
Households
3
Avg Household Size
43
Median Age
54%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
7,174
Density / Sq Mi
$173,136
Median Household Income
$76,812
Median Earnings
$2,495
Median Rent
$647,000
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 residential units offer distinct layouts, with storage, garage parking, and a fenced lot.
Where is this duplex located?
The property is located at 2477 Margaret Street Bellmore, NY.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Legal 2‑family property with approximately 2,339 square feet of living space; 0.1423‑acre fenced property at 2477 Margaret Street, Bellmore, NY 11710; First‑floor unit has 2 bedrooms, 1.5 baths, open living and kitchen areas, and a fireplace
