Renovated Duplex with Finished
For Sale
$1,550,000
1101 128th Street, College Point, NY 11356
Legal two-family residence with separate entrance, outdoor space, and parking for up to five vehicles.
Property Size3,555 SF
Lot Size0.08 Acres
Days on Market50
Property Features for 1101 128th Street
General Information
Standard status
Active
Size
3,555 SF
Total Parking Spaces
4
Lot size
0.08 Acres
Property subtype
Residential Income
Zoning
R4A
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,666
Amenities
front yard
rear yard
finished basement
separate entrance
Building Details
Building Size
3,555 SF
Year Built
1955
Year Renovated
2022
Buildings
1
Units
2
Listing Agency:
E Realty International Corp
(646) 508-9880
Listed By:
Xiao H. Chen · License #10401299357
(646) 508-9880
Source:
Maurafinnegan
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This fully detached duplex at 1101 128th Street includes two residential units and a finished basement with additional rooms, a kitchen, living area, and its own entrance. Renovated in 2022, the first floor provides three bedrooms, a living room, and 1.5 bathrooms, while the second floor offers three bedrooms, a living room, and one bathroom. The building measures 24 x 42 feet on a 37 x 95-foot lot and is zoned R4A.
Front and rear yards add outdoor space, with parking for up to five vehicles in the oversized backyard. The property is near the College Point Waterfront Promenade and Hermon A. MacNeil Park, as well as local schools, shopping, dining, public transportation, and other neighborhood amenities. It is served by New York City School District 25.
Front and rear yards add outdoor space, with parking for up to five vehicles in the oversized backyard. The property is near the College Point Waterfront Promenade and Hermon A. MacNeil Park, as well as local schools, shopping, dining, public transportation, and other neighborhood amenities. It is served by New York City School District 25.
Key Highlights
- Fully detached legal two‑family home renovated in 2022
- First‑floor unit with 3 bedrooms and 1.5 bathrooms
- Second‑floor unit with 3 bedrooms and 1 bathroom
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
$86,900
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
5.61%
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%
$1,738,000
$1.7M
Cap Rate 7%
$1,241,429
$1.2M
Cap Rate 9%
$965,556
$965.6K
Market Conditions
NOI Build-Up for 3,555 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
$164.2K $46.20/SF
− Vacancy
−$6.2K −$1.76/SF
EGI
$158.0K $44.44/SF
− OpEx
−$71.1K −$20.00/SF
NOI
$86.9K $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%
$1,738,000
Cap Rate 7%
$1,241,429
Cap Rate 9%
$965,556
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,900 @ 7.0% cap · market cap 5.61%
Second Best
Multifamily LT 5
$840.6K
$735.5K – $980.7K
NOI $58,841 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$2.62M
$2.29M – $3.06M
NOI $183,455 @ 7.0% cap · market cap 11.84%
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
1,630
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
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 - Legal two-family residence with separate entrance, outdoor space, and parking for up to five vehicles.
Where is this duplex located?
The property is located at 1101 128th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fully detached legal two‑family home renovated in 2022; First‑floor unit with 3 bedrooms and 1.5 bathrooms; Second‑floor unit with 3 bedrooms and 1 bathroom
