Two-Unit Duplex with Bonus
For Sale
$799,999
Pending
10492 129th St, South Richmond Hill, NY 11419
Two-family residence with separate living areas, kitchens, and an unfinished basement with exterior access.
Property Size1,680 SF
Days on Market162
Property Features for 10492 129th St
General Information
Standard status
Pending
Size
1,680 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Bharti Verma rpfeffer@crrli.net
Source:
Searchhomesinlongisland
Added: Apr 5
Changed: Sep 12
Last Checked: Sep 12 at 9:51AM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
This 1,680-square-foot duplex, built in 1925, contains two residential units with distinct layouts. The first-floor unit includes one bedroom, a living room, an eat-in kitchen, and a bonus room suitable for office or flexible-use space. The second-floor unit provides two bedrooms and a full kitchen.
An unfinished basement adds usable storage or workspace potential and connects to the exterior through a separate entrance. The property is located at 10492 129th St in Richmond Hill S., with shops, restaurants, and public transportation identified nearby.
An unfinished basement adds usable storage or workspace potential and connects to the exterior through a separate entrance. The property is located at 10492 129th St in Richmond Hill S., with shops, restaurants, and public transportation identified nearby.
Key Highlights
- 1,680‑square‑foot duplex with two residential units
- Built in 1925
- First‑floor unit includes 1 bedroom, living room, eat‑in kitchen, and bonus room
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
$41,067
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
5.13%
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%
$821,340
$821.3K
Cap Rate 7%
$586,671
$586.7K
Cap Rate 9%
$456,300
$456.3K
Market Conditions
NOI Build-Up for 1,680 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
$77.6K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$74.7K $44.44/SF
− OpEx
−$33.6K −$20.00/SF
NOI
$41.1K $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%
$821,340
Cap Rate 7%
$586,671
Cap Rate 9%
$456,300
Alternative Uses
Best Use
Apartment 5plus
$586.7K
$513.3K – $684.5K
NOI $41,067 @ 7.0% cap · market cap 5.13%
Second Best
Multifamily LT 5
$397.2K
$347.6K – $463.5K
NOI $27,807 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,696 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 11419, NY
47,430
Population
13,607
Households
3.5
Avg Household Size
39
Median Age
21%
College-Educated
73%
High-School Grad
1.1 sq mi
ZIP Area
43,118
Density / Sq Mi
$91,231
Median Household Income
$41,091
Median Earnings
$1,920
Median Rent
$678,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with separate living areas, kitchens, and an unfinished basement with exterior access.
Where is this duplex located?
The property is located at 10492 129th St South Richmond Hill, NY.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 1,680‑square‑foot duplex with two residential units; Built in 1925; First‑floor unit includes 1 bedroom, living room, eat‑in kitchen, and bonus room
