Renovated Two-Family
New
For Sale
$1,200,000
Pending
108-07 Monterey Street, Queens Village, NY 11429
Two separate residences offer updated kitchens, individual utility meters, and outdoor space.
Property Size2,462 SF
Days on Market1
Property Features for 108-07 Monterey Street
General Information
Standard status
Pending
Size
2,462 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 3BR/1.5BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Annual Taxes
$7,722
Amenities
rear deck
private balconies
Finished
3
Yes
6
First Floor Full Bath,Breakfast Bar,Chefs Kitchen,ENERGY STAR Qualified Door(s),Formal Dining,Kitchen Island,Open Floorplan,Quartz/Quartzite Counters,Recessed Lighting
1
Living Room
Fenced
Public
No
Other
2462
Building Details
Building Size
2,462 SF
Year Built
1920
Buildings
1
Listing Agency:
HomeCoin.com
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Oct 31 at 2:33PM
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 HomeCoin.com
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Investment Insights
Based on property information with market context.
This renovated, legal two-family property contains 2,462 square feet across two three-bedroom residences. Both units have open-plan kitchens with quartz counters and stainless steel appliances. The first-floor residence includes a finished basement with laundry and a rear deck; the other has two private balconies. Bathrooms include one full bath in the first unit and one full bath plus a half bath in the second.
Updates include a roof, windows, siding, boiler, and fencing. Each residence is served by a separate boiler and utility meters, and the renovation work was completed with DOB permits. Built in 1920, the property provides two distinct living spaces with separate outdoor features.
Updates include a roof, windows, siding, boiler, and fencing. Each residence is served by a separate boiler and utility meters, and the renovation work was completed with DOB permits. Built in 1920, the property provides two distinct living spaces with separate outdoor features.
Key Highlights
- Legal two‑family property with 2,462 square feet
- Two residences, each with 3 bedrooms
- First unit has a finished basement, washer and dryer, and rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,182
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,203,640
$1.2M
Cap Rate 7%
$859,743
$859.7K
Cap Rate 9%
$668,689
$668.7K
Market Conditions
NOI Build-Up for 2,462 SF
Gross rent
$113.7K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$109.4K $44.44/SF
− OpEx
−$49.2K −$20.00/SF
NOI
$60.2K $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%
$1,203,640
Cap Rate 7%
$859,743
Cap Rate 9%
$668,689
Alternative Uses
Best Use
Apartment 5plus
$859.7K
$752.3K – $1.00M
NOI $60,182 @ 7.0% cap · market cap 5.02%
Second Best
Multifamily LT 5
$582.1K
$509.4K – $679.2K
NOI $40,750 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,051 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer updated kitchens, individual utility meters, and outdoor space.
Where is this duplex located?
The property is located at 108-07 Monterey Street Queens Village, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Legal two‑family property with 2,462 square feet; Two residences, each with 3 bedrooms; First unit has a finished basement, washer and dryer, and rear deck
