Two-Family Duplex with Finished
For Sale
$899,000
Pending
62 Leaman Place, Lynbrook, NY 11563
MULTI_FAMILY - Colonial - Lynbrook, NY
Property Size2,237 SF
Lot Size0.24 Acres
Days on Market95
Property Features for 62 Leaman Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2
Parking features
Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Storage Space, Walk-Out Access, Full
Elementary school
West End School
Middle school
Lynbrook North Middle School
High school
Lynbrook Senior High School
Elementary school district
Lynbrook
Middle school district
Lynbrook
High school district
Lynbrook
Standard status
Pending
APN
37-504-232
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15624
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1925
Number of units
2
Building materials
Aluminum Siding, Vinyl Siding
Architectural style
Colonial
Listing Agency:
Mitra Hakimi Realty Group LLC
(718) 268-5588
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: May 14
Changed: Aug 2
Last Checked: Aug 16 at 5:06PM
MLS# 999512
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.
62 Leaman Place is a two-family duplex in a Colonial style, built in 1925, with interior space spread across multiple levels. The first-floor unit includes a living room, full kitchen, sunroom, two bedrooms, and a full bathroom. The second-floor apartment offers two bedrooms, a full kitchen, and a full bathroom, with access to an expansive third-floor bedroom that can support additional living space, a home office, or guest accommodations. A finished basement adds a large recreation area, laundry room, storage space, and a utility area.
The property sits on an oversized 10,580 square foot lot and includes driveway parking. Updates include a boiler and hot water heater replaced in 2025, siding replaced in 2023, a new fence installed in 2023, and a roof replaced approximately 8 years ago. Additional improvements include a dishwasher installed in 2021, washer and dryer installed in 2021, and a brand-new water filtration system installed in March 2026.
Located adjacent to Greis Park’s walking path, the home provides access toward the Lynbrook Recreation Center and pool, plus nearby shopping, restaurants, schools, and parks. Commuting is supported by proximity to the Long Island Rail Road.
The property sits on an oversized 10,580 square foot lot and includes driveway parking. Updates include a boiler and hot water heater replaced in 2025, siding replaced in 2023, a new fence installed in 2023, and a roof replaced approximately 8 years ago. Additional improvements include a dishwasher installed in 2021, washer and dryer installed in 2021, and a brand-new water filtration system installed in March 2026.
Located adjacent to Greis Park’s walking path, the home provides access toward the Lynbrook Recreation Center and pool, plus nearby shopping, restaurants, schools, and parks. Commuting is supported by proximity to the Long Island Rail Road.
Key Highlights
- Two‑family Colonial duplex built in 1925 with finished basement
- First‑floor unit: living room, full kitchen, sunroom, two bedrooms, full bathroom
- Second‑floor apartment plus access to expansive third‑floor bedroom for additional living or office
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
$42,618
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
4.74%
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%
$852,360
$852.4K
Cap Rate 7%
$608,829
$608.8K
Cap Rate 9%
$473,533
$473.5K
Market Conditions
NOI Build-Up for 2,237 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
$64.4K $28.80/SF
− Vacancy
−$3.5K −$1.58/SF
EGI
$60.9K $27.22/SF
− OpEx
−$18.3K −$8.16/SF
NOI
$42.6K $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%
$852,360
Cap Rate 7%
$608,829
Cap Rate 9%
$473,533
Alternative Uses
Best Use
Multifamily LT 5
$608.8K
$532.7K – $710.3K
NOI $42,618 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$570.0K
$498.8K – $665.0K
NOI $39,902 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.73M
NOI $103,534 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,778
Businesses Nearby
Explore this area
Business Placement
Demographics for 11563, NY
23,349
Population
8,088
Households
2.9
Avg Household Size
43
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
10,152
Density / Sq Mi
$138,006
Median Household Income
$65,565
Median Earnings
$2,173
Median Rent
$595,500
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 - Well-maintained two-family duplex with a finished basement and updated boiler and hot water heater replaced in 2025.
Where is this duplex located?
The property is located at 62 Leaman Place Lynbrook, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑family Colonial duplex built in 1925 with finished basement; First‑floor unit: living room, full kitchen, sunroom, two bedrooms, full bathroom; Second‑floor apartment plus access to expansive third‑floor bedroom for additional living or office
