Three-Story Duplex with Finished
For Sale
$1,350,000
3-24 150th Street, Whitestone, NY 11357
Residential Income, Whitestone, NY
Property Size3,280 SF
Lot Size0.18 Acres
Price / SF$411.59
Days on Market227
Property Features for 3-24 150th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 7, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Subdivision
Whitestone
Standard status
Active
Size
3,280 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7685
Building Details
Year built
1901
Floors in Building
3
Listing Agency:
MYC & ASSOCIATES INC
Listed By:
Marc Yaverbaum
(347) 273-1258
Added: Feb 3
Changed: Sep 14
Last Checked: Sep 18 at 12:06PM
MLS# 11641591
Copyright © 2026 My State 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 duplex is a 3-floor, 2-family residence with 3280 square feet of living space and a finished basement. The property is currently being used as a 1-family home and includes 7 total rooms, with a full bathroom on each floor. The layout provides areas that can serve as bedrooms, offices, or recreational rooms, subject to the property’s existing configuration and occupancy.
Set on 0.1793 acres at 3-24 150th Street in Whitestone, Queens, the property is near shops, restaurants, parks, and transportation options. Built in 1901, it will be delivered in as-is, where-is condition, subject to all tenancies and occupancies.
Set on 0.1793 acres at 3-24 150th Street in Whitestone, Queens, the property is near shops, restaurants, parks, and transportation options. Built in 1901, it will be delivered in as-is, where-is condition, subject to all tenancies and occupancies.
Key Highlights
- 2‑family duplex with 3 floors and a finished basement
- 3280 square feet of living space
- 7 total rooms with flexible bedroom, office, or recreation use
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
$80,178
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
5.94%
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%
$1,603,560
$1.6M
Cap Rate 7%
$1,145,400
$1.1M
Cap Rate 9%
$890,867
$890.9K
Market Conditions
NOI Build-Up for 3,280 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
$151.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$145.8K $44.44/SF
− OpEx
−$65.6K −$20.00/SF
NOI
$80.2K $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%
$1,603,560
Cap Rate 7%
$1,145,400
Cap Rate 9%
$890,867
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,178 @ 7.0% cap · market cap 5.94%
Second Best
Multifamily LT 5
$775.6K
$678.6K – $904.8K
NOI $54,289 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,264 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence offers flexible living areas across multiple levels in Whitestone.
Where is this duplex located?
The property is located at 3-24 150th Street Whitestone, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2‑family duplex with 3 floors and a finished basement; 3280 square feet of living space; 7 total rooms with flexible bedroom, office, or recreation use
