Large Two-Family
For Sale
$899,000
Pending
155-54 115th Dr, Queens, NY 11434
Spacious 2-family house with finished basement and separate entrance.
Property Size2,430 SF
Lot Size0.09 Acres
Days on Market309
Property Features for 155-54 115th Dr
General Information
Standard status
Pending
Size
2,430 SF
Lot size
0.09 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,356
Building Details
Building Size
2,430 SF
Year Built
1960
Units
2
Listed By:
Sudeep J. Modi · License #40MO102487
(646) 732-0513
Source:
Elliman
Added: Dec 3, 2025
Changed: Sep 26
Last Checked: Oct 7 at 12:58PM
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 Sudeep J. Modi
Investment Insights
Based on property information with market context.
This is a large two-family house with a total area of 2,430 square feet. It features a desirable layout, including a three-bedroom apartment with access to a two-level basement, and a one-bedroom apartment. The basement is finished and includes a full bath and a separate entrance. The property is located on a quiet street.
Key Highlights
- Large 2‑family home (2,430 sq ft) offering potential rental income or multi‑generational living.
- Three‑bedroom apartment with access to a finished two‑level basement.
- Finished basement includes a full bath and separate entrance, adding versatility and potential value.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,400
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 2,430 SF
Gross rent
$112.3K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$108.0K $44.44/SF
− OpEx
−$48.6K −$20.00/SF
NOI
$59.4K $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 Rate 5%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Apartment 5plus
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 6.61%
Second Best
Multifamily LT 5
$574.6K
$502.8K – $670.3K
NOI $40,220 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,400 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 11434, NY
66,964
Population
23,787
Households
2.8
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
3.2 sq mi
ZIP Area
20,926
Density / Sq Mi
$76,668
Median Household Income
$46,742
Median Earnings
$1,409
Median Rent
$585,600
Median Home Value
Check the figures for this property
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 - Spacious 2-family house with finished basement and separate entrance.
Where is this duplex located?
The property is located at 155-54 115th Dr Queens, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Large 2‑family home (2,430 sq ft) offering potential rental income or multi‑generational living.; Three‑bedroom apartment with access to a finished two‑level basement.; Finished basement includes a full bath and separate entrance, adding versatility and potential value.
