Flushing Two-Family Home for
4038 189th Street Flushing, NY 11358
For Sale
$1,380,000
MULTI_FAMILY - Flushing, NY
Property Size2,400 SF
Lot Size0.09 Acres
Price / SF$575
Days on Market111
Property Features for 4038 189th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bedroom 7, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 8, Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bathroom 3
- Parking features
- Driveway
- Interior features
- Eat-in Kitchen
- Basement
- Finished, Full
- Standard status
- Active
- APN
- 05353-0011
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4071
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1920
- Number of units
- 2
- Building materials
- Frame
Listing Agency:
Century Homes Realty Group LLC
(718) 886-6800
Listed By:
Xuemei Li · License #10401209339
(347) 783-4017
Added: Apr 7
Changed: Jul 17
Last Checked: Jul 26 at 7:06AM
MLS# 981856
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 detached two-family residence in Flushing features a versatile layout and convenient access to transportation and local amenities. The first floor includes three bedrooms, a spacious living room, and one full bathroom. The second floor mirrors this layout, also offering three bedrooms, a living room, and one full bathroom. The top level provides additional living space with a ceiling height exceeding seven feet, suitable for various uses. A full finished basement is also included. The property is situated on a 40 x 100 lot, with each floor offering approximately 800 square feet of interior space (20 x 40). The property is zoned R3X. Its location offers convenient access to the Long Island Rail Road and public transportation, with bus stops for the Q12 and Q17 lines nearby, and is located two blocks from the LIRR stop, shopping, and neighborhood amenities. This property is a legal two-family home.
Key Highlights
- Legal detached two‑family home in Flushing with similar layouts on both floors: 3 bedrooms and 1 full bathroom each
- Additional top level living space with ceiling height exceeding 7 feet for added flexibility
- Full finished basement plus eat‑in kitchen
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.9k | $46.20 |
| − Vacancy | −$4.2k | −$1.76 |
| EGI | $106.7k | $44.44 |
| − OpEx | −$48.0k | −$20.00 |
| NOI | $58.7k | $24.44 |
2,400 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 4.25%
Second Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,852 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Detached two-family home in Flushing, near transportation and amenities.
Where is this duplex located?
The property is located at 4038 189th Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Legal detached two‑family home in Flushing with similar layouts on both floors: 3 bedrooms and 1 full bathroom each; Additional top level living space with ceiling height exceeding 7 feet for added flexibility; Full finished basement plus eat‑in kitchen
