Two-Family
For Sale
$649,999
12222 Nellis Street, Springfield Gardens, NY 11413
The property is currently tenant-occupied and situated near retail, dining, schools, and public transportation.
Property Size1,440 SF
Price / SF$451.39
Days on Market239
Property Features for 12222 Nellis Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,693
Amenities
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
1,440 SF
Year Built
1930
Units
2
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Jonathan Ganthier
(347) 915-3350
Source:
Halknopfrealty
Added: Mar 1
Changed: Oct 25
Last Checked: Oct 26 at 4:03AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This two-family duplex contains 1,440 square feet and was built in 1930. The property is currently occupied by tenants; conveyance is subject to existing occupancy, if applicable.
Shopping, restaurants, schools, and public transportation are nearby.
Shopping, restaurants, schools, and public transportation are nearby.
Key Highlights
- Two‑family duplex with 1,440 square feet
- Built in 1930
- Currently tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,200
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,000
$704.0K
Cap Rate 7%
$502,857
$502.9K
Cap Rate 9%
$391,111
$391.1K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$66.5K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$64.0K $44.44/SF
− OpEx
−$28.8K −$20.00/SF
NOI
$35.2K $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%
$704,000
Cap Rate 7%
$502,857
Cap Rate 9%
$391,111
Alternative Uses
Best Use
Apartment 5plus
$502.9K
$440.0K – $586.7K
NOI $35,200 @ 7.0% cap · market cap 5.42%
Second Best
Multifamily LT 5
$340.5K
$297.9K – $397.2K
NOI $23,834 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.06M
$928.9K – $1.24M
NOI $74,311 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Explore this area
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 - The property is currently tenant-occupied and situated near retail, dining, schools, and public transportation.
Where is this duplex located?
The property is located at 12222 Nellis Street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two‑family duplex with 1,440 square feet; Built in 1930; Currently tenant‑occupied
