Two-Family Duplex with Finished
New
For Sale
$898,888
1029 115th Street, College Point, NY 11356
Two residential units offer separate living areas, kitchens, bedrooms, and full bathrooms.
Property Size1,120 SF
Lot Size0.05 Acres
Days on Market4
Property Features for 1029 115th Street
General Information
Standard status
Active
Size
1,120 SF
Lot size
0.05 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,841
Building Details
Building Size
1,120 SF
Year Built
1945
Listing Agency:
E Realty International Corp
Listed By:
Xinwei Chen · License #10401287499
(347) 925-8952
Source:
Barbieliteam
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 5 at 4:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of E Realty International Corp
Investment Insights
Based on property information with market context.
Built in 1945, this two-family duplex contains a first-floor residence with two bedrooms, one full bathroom, living and dining space, and a kitchen. The second-floor unit provides three bedrooms, a kitchen, living space, and one full bathroom. A finished basement and backyard add usable space to the property, which occupies a 16 X 140 lot.
The property is in College Point near parks and schools, with Q25 bus service nearby.
The property is in College Point near parks and schools, with Q25 bus service nearby.
Key Highlights
- Two‑family duplex with two residential units
- First‑floor layout includes 2 bedrooms and 1 bathroom
- Second‑floor layout includes 3 bedrooms and 1 full bathroom
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
$27,378
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
3.05%
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%
$547,560
$547.6K
Cap Rate 7%
$391,114
$391.1K
Cap Rate 9%
$304,200
$304.2K
Market Conditions
NOI Build-Up for 1,120 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
$51.7K $46.20/SF
− Vacancy
−$2.0K −$1.76/SF
EGI
$49.8K $44.44/SF
− OpEx
−$22.4K −$20.00/SF
NOI
$27.4K $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%
$547,560
Cap Rate 7%
$391,114
Cap Rate 9%
$304,200
Alternative Uses
Best Use
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,378 @ 7.0% cap · market cap 3.05%
Second Best
Multifamily LT 5
$264.8K
$231.7K – $309.0K
NOI $18,538 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$825.7K
$722.5K – $963.3K
NOI $57,797 @ 7.0% cap · market cap 6.43%
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
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - Two residential units offer separate living areas, kitchens, bedrooms, and full bathrooms.
Where is this duplex located?
The property is located at 1029 115th Street College Point, NY.
What is the asking price?
The asking price for this property is $898,888.
What are key features of this property?
This property features: Two‑family duplex with two residential units; First‑floor layout includes 2 bedrooms and 1 bathroom; Second‑floor layout includes 3 bedrooms and 1 full bathroom
