Duplex with Finished
New
For Sale
$1,245,000
Pending
115-51 115th Street, South Ozone Park, NY 11420
A private driveway, garage, and backyard complement the home's multi-level layout.
Property Size6,000 SF
Lot Size0.14 Acres
Days on Market4
Property Features for 115-51 115th Street
General Information
Standard status
Pending
Size
6,000 SF
Total Parking Spaces
2
Lot size
0.14 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,133
Amenities
Finished,Full
Carpet,Hardwood
2
Yes
7
Eat-in Kitchen,Formal Dining
Finished, Full
No
Back Yard
Public
Driveway, Garage, Private
Garden
Other
Building Details
Year Built
1925
Buildings
1
Stories
3
Listing Agency:
RE/MAX 2000
(516) 703-2918
Listed By:
Louis LaDonna
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:12PM
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 RE/MAX 2000
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Investment Insights
Based on property information with market context.
Built in 1925, this duplex has living space across three floors. The first floor contains three bedrooms, a full bathroom, a kitchen, and a living room. On the second floor are two bedrooms, a full bathroom, a kitchen, and a living room; two additional bedrooms occupy the third floor.
The property also includes a finished basement with a separate entrance, a backyard, and a private driveway leading to a two-car garage. The lot measures 60 by 100 feet. Nearby amenities include schools, shops, eateries, houses of worship, train service, transportation, and major highways.
The property also includes a finished basement with a separate entrance, a backyard, and a private driveway leading to a two-car garage. The lot measures 60 by 100 feet. Nearby amenities include schools, shops, eateries, houses of worship, train service, transportation, and major highways.
Key Highlights
- Three floors with seven bedrooms: three on the first floor, two on the second, and two on the third
- Two full bathrooms, with a kitchen and living room on each of the first two floors
- Finished basement with a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,310
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,986,200
$2.0M
Cap Rate 7%
$1,418,714
$1.4M
Cap Rate 9%
$1,103,444
$1.1M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$151.2K $25.20/SF
− Vacancy
−$9.3K −$1.55/SF
EGI
$141.9K $23.65/SF
− OpEx
−$42.6K −$7.09/SF
NOI
$99.3K $16.55/SF
Area
Queens County, NY
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,986,200
Cap Rate 7%
$1,418,714
Cap Rate 9%
$1,103,444
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.83M – $2.44M
NOI $146,667 @ 7.0% cap · market cap 11.78%
Second Best
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,310 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$4.42M
$3.87M – $5.16M
NOI $309,629 @ 7.0% cap · market cap 24.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 11420, NY
47,383
Population
14,835
Households
3.2
Avg Household Size
40
Median Age
22%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
22,563
Density / Sq Mi
$98,584
Median Household Income
$45,571
Median Earnings
$2,032
Median Rent
$673,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A private driveway, garage, and backyard complement the home's multi-level layout.
Where is this duplex located?
The property is located at 115-51 115th Street South Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Three floors with seven bedrooms: three on the first floor, two on the second, and two on the third; Two full bathrooms, with a kitchen and living room on each of the first two floors; Finished basement with a separate entrance
