Renovated Two-Family Brick
For Sale
$1,500,000
Pending
56-29 210th Street, Oakland Gardens, NY 11364
Residential Income, Oakland Gardens, NY
Property Size2,200 SF
Lot Size0.08 Acres
Days on Market40
Property Features for 56-29 210th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Basement, Bathroom 3, Bathroom 1
Parking
4
Parking features
Garage
Interior features
Open Kitchen
Basement
Finished, Full
Elementary school
Ps 203 Oakland Gardens
Middle school
Ms 158 Marie Curie
High school
Benjamin N Cardozo High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Standard status
Pending
APN
07439-0017
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12300
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1940
Number of units
2
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Xiao H. Chen · License #10401299357
(646) 508-9880
Added: Jul 28
Changed: Aug 21
Last Checked: Sep 5 at 2:06PM
MLS# 1031461
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 two-family brick townhouse contains approximately 2,200 square feet of interior space within two separate residential units. Each unit includes three bedrooms, a living room, two full bathrooms, and an open kitchen. The property was built in 1940 and has been newly renovated, with baseboard heating, public water and sewer, and natural gas available. A garage provides on-site parking.
The finished lower level has its own entrance, additional rooms, a living area, and a full bathroom. Use and occupancy of those lower-level areas remain subject to applicable permits, certificates, and municipal requirements. The 0.0787-acre property is located in Oakland Gardens within Queens School District 26, near schools, Bell Boulevard shopping and dining, QM2 and QM20 express bus service, and the Bayside LIRR station.
The configuration supports owner occupancy or investment use, with two distinct residential units and additional lower-level space.
The finished lower level has its own entrance, additional rooms, a living area, and a full bathroom. Use and occupancy of those lower-level areas remain subject to applicable permits, certificates, and municipal requirements. The 0.0787-acre property is located in Oakland Gardens within Queens School District 26, near schools, Bell Boulevard shopping and dining, QM2 and QM20 express bus service, and the Bayside LIRR station.
The configuration supports owner occupancy or investment use, with two distinct residential units and additional lower-level space.
Key Highlights
- Legal two‑family brick townhouse with approximately 2,200 square feet of interior space
- Two residential units, each with 3 bedrooms, a living room, and 2 full bathrooms
- Newly renovated interiors with open kitchens and baseboard heating
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
$53,778
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
3.59%
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%
$1,075,560
$1.1M
Cap Rate 7%
$768,257
$768.3K
Cap Rate 9%
$597,533
$597.5K
Market Conditions
NOI Build-Up for 2,200 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
$101.6K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$97.8K $44.44/SF
− OpEx
−$44.0K −$20.00/SF
NOI
$53.8K $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%
$1,075,560
Cap Rate 7%
$768,257
Cap Rate 9%
$597,533
Alternative Uses
Best Use
Apartment 5plus
$768.3K
$672.2K – $896.3K
NOI $53,778 @ 7.0% cap · market cap 3.59%
Second Best
Multifamily LT 5
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,531 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 11364, NY
37,032
Population
14,527
Households
2.5
Avg Household Size
45
Median Age
49%
College-Educated
86%
High-School Grad
2.5 sq mi
ZIP Area
14,813
Density / Sq Mi
$101,222
Median Household Income
$55,295
Median Earnings
$2,330
Median Rent
$770,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal duplex with two three-bedroom units, finished lower-level space, and garage parking in Queens School District 26.
Where is this duplex located?
The property is located at 56-29 210th Street Oakland Gardens, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Legal two‑family brick townhouse with approximately 2,200 square feet of interior space; Two residential units, each with 3 bedrooms, a living room, and 2 full bathrooms; Newly renovated interiors with open kitchens and baseboard heating
