Renovated Two-Family
For Sale
$1,069,000
12217 Lucas St, Springfield Gardens, NY 11413
Two separate residences offer a three-bedroom apartment and an upper-level home arranged across two floors.
Property Size2,615 SF
Price / SF$408.80
Days on Market16
Property Features for 12217 Lucas St
General Information
Standard status
Active
Size
2,615 SF
Property subtype
Residential Income
Units
Unit Mix
3BR/1BA first-floor apartment, 3BR/2BA upper-level duplex
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,115
Amenities
fully finished basement
walk-in closet
private driveway
garage
Listing Agency:
Keystone Realty USA Corp
(631) 261-2800
Listed By:
Eric Rashtian
(917) 727-0527
Source:
Exprealty
Added: Oct 20
Changed: Nov 3
Last Checked: Nov 3 at 2:50PM
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 Keystone Realty USA Corp
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Investment Insights
Based on property information with market context.
Renovated two-family residence with 2,615 square feet. The first-floor apartment has three bedrooms and one bathroom; the upper residence is a duplex with three bedrooms and two full bathrooms across two levels. A finished basement includes another full bathroom. The primary bedroom has a walk-in closet, and the property also includes a private driveway and garage.
Key Highlights
- Renovated legal two‑family residence
- 2,615 square feet
- First‑floor apartment with 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,922
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,278,440
$1.3M
Cap Rate 7%
$913,171
$913.2K
Cap Rate 9%
$710,244
$710.2K
Market Conditions
NOI Build-Up for 2,615 SF
Gross rent
$120.8K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$116.2K $44.44/SF
− OpEx
−$52.3K −$20.00/SF
NOI
$63.9K $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 Rate 5%
$1,278,440
Cap Rate 7%
$913,171
Cap Rate 9%
$710,244
Alternative Uses
Best Use
Apartment 5plus
$913.2K
$799.0K – $1.07M
NOI $63,922 @ 7.0% cap · market cap 5.98%
Second Best
Multifamily LT 5
$618.3K
$541.0K – $721.4K
NOI $43,282 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $134,947 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
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Business Placement
Demographics for 11413, NY
42,978
Population
14,485
Households
3
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
3.0 sq mi
ZIP Area
14,326
Density / Sq Mi
$114,766
Median Household Income
$50,525
Median Earnings
$2,038
Median Rent
$631,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a three-bedroom apartment and an upper-level home arranged across two floors.
Where is this duplex located?
The property is located at 12217 Lucas St Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $1,069,000.
What are key features of this property?
This property features: Renovated legal two‑family residence; 2,615 square feet; First‑floor apartment with 3 bedrooms and 1 bathroom
