Renovated Two-Family
For Sale
$1,290,000
11-63 129th Street, College Point, NY 11356
Renovated two-family residence built in 1974 featuring a central entry, balconies, and a finished basement with backyard access.
Property Size1,800 SF
Days on Market77
Property Features for 11-63 129th Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,422
Amenities
balcony
finished basement
Building Details
Building Size
1,800 SF
Year Built
1974
Buildings
1
Listing Agency:
Signature Premier Properties
Listed By:
Susan Sanchez CBR SRES
Source:
Serhant
Added: Jul 5
Changed: Sep 13
Last Checked: Sep 19 at 10:25AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This beautifully renovated two-family home offers a versatile interior layout centered around a convenient central entryway with access to all levels. The first-floor unit includes a well-appointed kitchen with abundant cabinet space, a full bath, a spacious living room, a comfortable bedroom, and excellent closet storage.
The second-floor unit features an open-concept layout with two balconies, a massive living room, a dedicated dining area, and a premium granite and marble kitchen with extensive cabinetry. This level includes three bedrooms, including a primary suite with a private 1.5-bath.
A finished basement provides an entertainment-focused space with new flooring and direct access to the backyard. The home was built in 1974 and is positioned for owner-occupants or investors seeking a turn-key, renovated two-family property with strong functional separation between units.
The second-floor unit features an open-concept layout with two balconies, a massive living room, a dedicated dining area, and a premium granite and marble kitchen with extensive cabinetry. This level includes three bedrooms, including a primary suite with a private 1.5-bath.
A finished basement provides an entertainment-focused space with new flooring and direct access to the backyard. The home was built in 1974 and is positioned for owner-occupants or investors seeking a turn-key, renovated two-family property with strong functional separation between units.
Key Highlights
- Central entryway provides access to all levels
- Two‑family layout with first‑floor and second‑floor separate units
- Second‑floor unit has an open‑concept layout with two balconies
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
$44,000
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
3.41%
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%
$880,000
$880.0K
Cap Rate 7%
$628,571
$628.6K
Cap Rate 9%
$488,889
$488.9K
Market Conditions
NOI Build-Up for 1,800 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
$83.2K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.0K $44.44/SF
− OpEx
−$36.0K −$20.00/SF
NOI
$44.0K $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%
$880,000
Cap Rate 7%
$628,571
Cap Rate 9%
$488,889
Alternative Uses
Best Use
Apartment 5plus
$628.6K
$550.0K – $733.3K
NOI $44,000 @ 7.0% cap · market cap 3.41%
Second Best
Multifamily LT 5
$425.6K
$372.4K – $496.6K
NOI $29,793 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
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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 - Renovated two-family residence built in 1974 featuring a central entry, balconies, and a finished basement with backyard access.
Where is this duplex located?
The property is located at 11-63 129th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Central entryway provides access to all levels; Two‑family layout with first‑floor and second‑floor separate units; Second‑floor unit has an open‑concept layout with two balconies
