Two-Family Duplex with Finished
For Sale
$929,000
11535 197th St, Saint Albans, NY 11412
Separate apartments, accessible features, finished basement space, private parking, and substantial outdoor areas support flexible use.
Property Size1,550 SF
Price / SF$599.35
Days on Market98
Property Features for 11535 197th St
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
above-ground pool
private driveway
laundry area
wheelchair access to backyard
handicap-accessible bathroom
Building Details
Year Built
1925
Listing Agency:
RMC Empire LLC
Listed By:
Rosa M. Collado
(917) 833-0582
Source:
Searchhomesinlongisland
Added: Jun 25
Changed: Sep 29
Last Checked: Sep 29 at 9:12AM
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 RMC Empire LLC
Investment Insights
Based on property information with market context.
This legal two-family property contains two distinct apartments. The first-floor residence has two bedrooms, a living room, kitchen, and handicap-accessible bathroom, along with wheelchair access to the backyard. The upper residence is an updated duplex extending into a finished attic and includes two bedrooms, refreshed flooring, and fresh paint. A full finished basement provides two finished rooms, laundry with a washer and dryer, and a separate exterior entrance; use is subject to local regulations.
Exterior features include a private driveway, oversized backyard, and above-ground pool that can be removed if desired. The property is located at 11535 197th St in Saint Albans, Queens, near schools, shopping, restaurants, parks, and public transportation. The combination of separate living areas, basement utility, and outdoor space creates a versatile residential income configuration.
Exterior features include a private driveway, oversized backyard, and above-ground pool that can be removed if desired. The property is located at 11535 197th St in Saint Albans, Queens, near schools, shopping, restaurants, parks, and public transportation. The combination of separate living areas, basement utility, and outdoor space creates a versatile residential income configuration.
Key Highlights
- Legal 2‑family property with separate first- and second‑floor apartments
- Upper unit is an updated duplex extending into a finished attic
- First‑floor apartment includes 2 bedrooms and a handicap‑accessible 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
$37,889
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
4.08%
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%
$757,780
$757.8K
Cap Rate 7%
$541,271
$541.3K
Cap Rate 9%
$420,989
$421.0K
Market Conditions
NOI Build-Up for 1,550 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
$71.6K $46.20/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$68.9K $44.44/SF
− OpEx
−$31.0K −$20.00/SF
NOI
$37.9K $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%
$757,780
Cap Rate 7%
$541,271
Cap Rate 9%
$420,989
Alternative Uses
Best Use
Apartment 5plus
$541.3K
$473.6K – $631.5K
NOI $37,889 @ 7.0% cap · market cap 4.08%
Second Best
Multifamily LT 5
$366.5K
$320.7K – $427.6K
NOI $25,655 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.14M
$999.8K – $1.33M
NOI $79,987 @ 7.0% cap · market cap 8.61%
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
1,643
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Separate apartments, accessible features, finished basement space, private parking, and substantial outdoor areas support flexible use.
Where is this duplex located?
The property is located at 11535 197th St Saint Albans, NY.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Legal 2‑family property with separate first- and second‑floor apartments; Upper unit is an updated duplex extending into a finished attic; First‑floor apartment includes 2 bedrooms and a handicap‑accessible bathroom
