Two-Unit Multifamily
For Sale
$1,529,000
10315 217th Street, Queens Village, NY 11429
All-electric duplex with a walk-out basement, detached garage, and two electric vehicle charging stations.
Property Size3,000 SF
Price / SF$509.67
Days on Market62
Property Features for 10315 217th Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,147
Amenities
walk-out basement
detached garage
electric vehicle charging stations
Building Details
Year Built
1940
Buildings
1
Units
2
Listing Agency:
Imperial Legacy Real Estate
(917) 245-8365
Listed By:
Ray Jagrup · License #10311210158
(917) 245-8365
Source:
Millenniumhomes
Added: Jun 29
Changed: Aug 28
Last Checked: Aug 28 at 7:23AM
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 Imperial Legacy Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex offers nearly 3,000 square feet of living space with a six-bedroom, five-bathroom configuration. Both units feature open-concept interiors with modern kitchens, combined living and dining areas, and bedrooms with ample closet space. A full walk-out basement, detached garage, and two electric vehicle charging stations add functional value.
The property is located in Queens Village near shopping, restaurants, schools, parks, public transportation, and major roadways. The all-electric design and separate-unit layout support a range of multifamily ownership and occupancy arrangements.
The property is located in Queens Village near shopping, restaurants, schools, parks, public transportation, and major roadways. The all-electric design and separate-unit layout support a range of multifamily ownership and occupancy arrangements.
Key Highlights
- Nearly 3,000 square feet across two residential units
- Six bedrooms and five full bathrooms
- Full walk‑out basement and detached garage
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
$73,333
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
4.80%
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%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 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
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 4.80%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 10.13%
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
1,874
Businesses Nearby
Explore this area
Business Placement
Demographics for 11429, NY
25,895
Population
8,601
Households
3
Avg Household Size
41
Median Age
27%
College-Educated
84%
High-School Grad
1.3 sq mi
ZIP Area
19,919
Density / Sq Mi
$98,232
Median Household Income
$45,053
Median Earnings
$1,605
Median Rent
$646,200
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 - All-electric duplex with a walk-out basement, detached garage, and two electric vehicle charging stations.
Where is this duplex located?
The property is located at 10315 217th Street Queens Village, NY.
What is the asking price?
The asking price for this property is $1,529,000.
What are key features of this property?
This property features: Nearly 3,000 square feet across two residential units; Six bedrooms and five full bathrooms; Full walk‑out basement and detached garage
