Multi-Level Residential Income
New
For Sale
$1,288,000
10475 48th Avenue, Corona, NY 11368
Three above-grade floors and a finished basement provide separate access at each level.
Property Size2,340 SF
Price / SF$550.43
Days on Market4
Property Features for 10475 48th Avenue
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,008
Amenities
Finished,Full
Yes
First Floor Full Bath
Finished, Full
Public
No
On Street
2340
Building Details
Building Size
2,340 SF
Year Built
2007
Stories
3
Listing Agency:
(516) 703-2918
Listed By:
Hassan Mahmood
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:01PM
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 Hassan Mahmood
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Investment Insights
Based on property information with market context.
Built in 2007, this residential income property has three above-grade floors and a finished basement. Each level has its own entrance, providing distinct access throughout the building.
Key Highlights
- Three above‑grade floors plus a finished basement
- Separate entrance on each level
- Built in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,200
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,144,000
$1.1M
Cap Rate 7%
$817,143
$817.1K
Cap Rate 9%
$635,556
$635.6K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$108.1K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.0K $44.44/SF
− OpEx
−$46.8K −$20.00/SF
NOI
$57.2K $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 Rate 5%
$1,144,000
Cap Rate 7%
$817,143
Cap Rate 9%
$635,556
Alternative Uses
Best Use
Apartment 5plus
$817.1K
$715.0K – $953.3K
NOI $57,200 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,755 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,069
Businesses Nearby
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Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three above-grade floors and a finished basement provide separate access at each level.
Where is this residential income property located?
The property is located at 10475 48th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Three above‑grade floors plus a finished basement; Separate entrance on each level; Built in 2007
