Duplex with Finished
For Sale
$789,000
11612 148th Street, Jamaica, NY 11436
Delivered vacant with matching bedroom layouts on each level and access to Jamaica Station and JFK Airport.
Property Size1,413 SF
Days on Market17
Property Features for 11612 148th Street
General Information
Standard status
Active
Size
1,413 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,965
Building Details
Building Size
1,413 SF
Year Built
1920
Buildings
1
Stories
2
Units
2
Listing Agency:
Keller Williams Landmark II
(929) 424-6152
Listed By:
Sheeba Rozario
(929) 424-6152
Source:
Cohenandcohenrealty
Added: Jul 21
Changed: Aug 6
Last Checked: Aug 6 at 2:47AM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
This two-story duplex at 11612 148th Street comprises two residential units, with each floor offering three bedrooms and one full bathroom. A finished basement adds additional interior space, and the property is scheduled for delivery vacant. Built in 1920, the home provides a defined two-unit configuration for residential ownership or leasing purposes.
The property is situated in South Jamaica, with Jamaica Station approximately a 4-minute drive away for LIRR and AirTrain connections. JFK Airport is approximately 8 minutes away by car. The location, two-unit layout, and vacant delivery are central features of the offering.
The property is situated in South Jamaica, with Jamaica Station approximately a 4-minute drive away for LIRR and AirTrain connections. JFK Airport is approximately 8 minutes away by car. The location, two-unit layout, and vacant delivery are central features of the offering.
Key Highlights
- Two‑story duplex with two residential units
- Three bedrooms and one full bathroom on each floor
- Finished basement included
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
$34,540
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
4.38%
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%
$690,800
$690.8K
Cap Rate 7%
$493,429
$493.4K
Cap Rate 9%
$383,778
$383.8K
Market Conditions
NOI Build-Up for 1,413 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
$65.3K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$62.8K $44.44/SF
− OpEx
−$28.3K −$20.00/SF
NOI
$34.5K $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%
$690,800
Cap Rate 7%
$493,429
Cap Rate 9%
$383,778
Alternative Uses
Best Use
Apartment 5plus
$493.4K
$431.8K – $575.7K
NOI $34,540 @ 7.0% cap · market cap 4.38%
Second Best
Multifamily LT 5
$334.1K
$292.3K – $389.8K
NOI $23,387 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.04M
$911.5K – $1.22M
NOI $72,918 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 11436, NY
20,620
Population
6,617
Households
3.1
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
0.8 sq mi
ZIP Area
25,775
Density / Sq Mi
$86,104
Median Household Income
$42,386
Median Earnings
$2,079
Median Rent
$602,800
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 - Delivered vacant with matching bedroom layouts on each level and access to Jamaica Station and JFK Airport.
Where is this duplex located?
The property is located at 11612 148th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Two‑story duplex with two residential units; Three bedrooms and one full bathroom on each floor; Finished basement included
