Brick Duplex with Partially Finished
For Sale
$990,000
Pending
1010 Bay 25th Street, Far Rockaway, NY 11691
MULTI_FAMILY - Far Rockaway, NY
Property Size2,500 SF
Lot Size0.12 Acres
Days on Market113
Property Features for 1010 Bay 25th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 5, Bathroom 2, Dining Room, Basement, Bathroom 3, Bedroom 1, Bathroom 4
Parking
1
Parking features
Off Street
Interior features
Eat-in Kitchen, Formal Dining, Granite Counters, Storage, Walk-In Closet(s), Washer/Dryer Hookup
Basement
Full
Elementary school
Ps 104 Bays Water
Middle school
Village Academy
Elementary school district
Queens 27
Middle school district
Queens 27
High school district
Queens 27
Directions
From Long Island: Take Southern State Parkway West - Merge onto Belt Parkway West toward JFK Airport - Take exit toward Rockaway Blvd / Nassau Expy (NY-878) - Continue on Nassau Expressway ? becomes Rockaway Blvd - Follow signs for Rockaway / Beach Channel Drive - Turn onto Beach Channel Drive - Turn left onto Bay 25th Street - Continue to 1010 Bay 25th Street (on your right)
Standard status
Pending
APN
15732-0067
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7713
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
fenced property
hardwood floors
private mini balcony
washer and dryer
built-in shelving system
Building Details
Year built
1950
Number of units
2
Building materials
Brick
Additional Structures
Storage
Listing Agency:
Signature Premier Properties
(631) 642-2300
Listed By:
Carolyn Davis
(718) 406-2552
Added: Apr 23
Changed: Aug 13
Last Checked: Aug 13 at 8:06AM
MLS# 989809
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.
Discover 1010 Bay 25th Street, a legal 2-family brick duplex in the Bayswater section of Far Rockaway. The home is well maintained and features approximately 2,500 SF of living space and 3,500 SF of usable space, including a partially finished basement for additional living, recreation, office, or gym use.
The main floor unit offers three bedrooms and two full bathrooms, with a formal living room and formal dining room, an eat-in kitchen, and hardwood floors throughout. Updates called out for the main floor include a newer roof, windows, doors, boiler, and water heater. The upper unit includes three bedrooms with one full and one half bathroom, plus formal living and dining rooms and hardwood floors. Bedroom storage details include his-and-her closets in the primary, a large walk-in closet, and a private mini balcony.
The partially finished basement adds flexibility, including a full bathroom, wet bar hookup, custom cast-iron bar stools and built-in shelving, washer and dryer, and extensive storage plus two additional storage rooms. The property has off-street parking and is served by public water and public sewer. Built in 1950, the home is heated with natural gas and has window units for cooling.
The main floor unit offers three bedrooms and two full bathrooms, with a formal living room and formal dining room, an eat-in kitchen, and hardwood floors throughout. Updates called out for the main floor include a newer roof, windows, doors, boiler, and water heater. The upper unit includes three bedrooms with one full and one half bathroom, plus formal living and dining rooms and hardwood floors. Bedroom storage details include his-and-her closets in the primary, a large walk-in closet, and a private mini balcony.
The partially finished basement adds flexibility, including a full bathroom, wet bar hookup, custom cast-iron bar stools and built-in shelving, washer and dryer, and extensive storage plus two additional storage rooms. The property has off-street parking and is served by public water and public sewer. Built in 1950, the home is heated with natural gas and has window units for cooling.
Key Highlights
- Legal 2‑family brick duplex with two separate three‑bedroom units
- Approximately 2,500 SF living space and 3,500 SF usable space, including partially finished basement
- Partially finished basement with full bathroom and wet bar hookup plus extensive storage
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
$61,111
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
6.17%
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%
$1,222,220
$1.2M
Cap Rate 7%
$873,014
$873.0K
Cap Rate 9%
$679,011
$679.0K
Market Conditions
NOI Build-Up for 2,500 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
$115.5K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$111.1K $44.44/SF
− OpEx
−$50.0K −$20.00/SF
NOI
$61.1K $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%
$1,222,220
Cap Rate 7%
$873,014
Cap Rate 9%
$679,011
Alternative Uses
Best Use
Apartment 5plus
$873.0K
$763.9K – $1.02M
NOI $61,111 @ 7.0% cap · market cap 6.17%
Second Best
Multifamily LT 5
$591.1K
$517.2K – $689.7K
NOI $41,379 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,012 @ 7.0% cap · market cap 13.03%
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
1,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
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 two-family duplex with two separate three-bedroom units, fenced yard, off-street parking, and a partially finished basement.
Where is this duplex located?
The property is located at 1010 Bay 25th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Legal 2‑family brick duplex with two separate three‑bedroom units; Approximately 2,500 SF living space and 3,500 SF usable space, including partially finished basement; Partially finished basement with full bathroom and wet bar hookup plus extensive storage
