Colonial Duplex with Buildable
New
For Sale
$750,000
109-29 205th Street, Queens Village, NY 11412
MULTI_FAMILY - Colonial - Queens Village, NY
Property Size1,740 SF
Lot Size0.07 Acres
Price / SF$431.03
Days on Market3
Property Features for 109-29 205th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Basement, Bedroom 1, Bedroom 4
Parking features
Driveway
Interior features
First Floor Bedroom
Exterior features
Awning(s), Balcony
Basement
Full
Lot features
Back Yard
Elementary school
Ps 134 Hollis
Middle school
Is 192 Linden (The)
High school
Pathways College Preparatory School
Elementary school district
Queens 29
Middle school district
Queens 29
High school district
Queens 29
Directions
Francis Lewis to 109th ave then to 205th street
Standard status
Active
APN
10911-0044
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2960
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1930
Number of units
2
Building materials
Frame, Shake Siding, Stone
Architectural style
Colonial
Listing Agency:
Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #0225265075
(888) 278-5840
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 8:06AM
MLS# 1038626
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial-style duplex at 109-29 205th Street offers 1,740 square feet of existing space on a 3,000-square-foot lot. The property includes bedrooms on the first floor, a basement, two bathrooms, a driveway, and a balcony. Frame construction incorporates shake siding and stone, with baseboard heating and an awning.
The property is configured as a B3 two-family conversion and provides 510 additional buildable square feet. With a .75 FAR, the maximum allowable building area is 2,250 square feet. Natural gas is available, and the property is served by public water and public sewer. Built in 1930, the residence reflects a Colonial architectural style.
The property is configured as a B3 two-family conversion and provides 510 additional buildable square feet. With a .75 FAR, the maximum allowable building area is 2,250 square feet. Natural gas is available, and the property is served by public water and public sewer. Built in 1930, the residence reflects a Colonial architectural style.
Key Highlights
- 1,740‑square‑foot two‑family conversion
- 3,000‑square‑foot lot with .75 FAR
- 510 additional buildable square feet
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
$42,533
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
5.67%
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%
$850,660
$850.7K
Cap Rate 7%
$607,614
$607.6K
Cap Rate 9%
$472,589
$472.6K
Market Conditions
NOI Build-Up for 1,740 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
$80.4K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$77.3K $44.44/SF
− OpEx
−$34.8K −$20.00/SF
NOI
$42.5K $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%
$850,660
Cap Rate 7%
$607,614
Cap Rate 9%
$472,589
Alternative Uses
Best Use
Apartment 5plus
$607.6K
$531.7K – $708.9K
NOI $42,533 @ 7.0% cap · market cap 5.67%
Second Best
Multifamily LT 5
$411.4K
$360.0K – $480.0K
NOI $28,800 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,792 @ 7.0% cap · market cap 11.97%
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
1,605
Businesses Nearby
Explore this area
Business Placement
Demographics for 11412, NY
37,958
Population
12,821
Households
3
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
23,724
Density / Sq Mi
$98,418
Median Household Income
$48,243
Median Earnings
$1,630
Median Rent
$633,800
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-family Colonial with a driveway, balcony, and additional development capacity.
Where is this duplex located?
The property is located at 109-29 205th Street Queens Village, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,740‑square‑foot two‑family conversion; 3,000‑square‑foot lot with .75 FAR; 510 additional buildable square feet
