Sunnyside Gardens Brick
For Sale
$1,499,000
Pending
39-47 43rd St, Queens, NY 11104
Charming 5-bedroom townhouse in historic Sunnyside Gardens neighborhood.
Property Size1,400 SF
Lot Size0.06 Acres
Days on Market137
Property Features for 39-47 43rd St
General Information
Standard status
Pending
Size
1,400 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,554
Building Details
Building Size
1,400 SF
Year Built
1930
Listing Agency:
Nest Seekers LLC
(914) 282-8898
Listed By:
Bianca Dalessio · License #40PA1043104
(914) 282-8898
Source:
Elliman
Added: Apr 11
Changed: Aug 17
Last Checked: Aug 25 at 10:44AM
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 Nest Seekers LLC
Investment Insights
Based on property information with market context.
Located in the Historic Sunnyside Gardens neighborhood, this three-level brick townhouse features 5 bedrooms and 3 bathrooms. Situated on a 25' x 95' lot along Madison Court, the property offers greenery and connectivity. Configured as a three-level residence with a 25' x 28' building footprint, this property offers multiple possibilities. It can be used as a first-floor/basement owner’s duplex with a rental income-producing unit on the second floor, or converted into a single-family home spanning all three levels. The first-floor residence includes a foyer, formal living room with bay window, dining room, kitchen, full bathroom, and two bedrooms. The dining room opens to a paved patio and private courtyard. The second-floor residence includes a vestibule, formal living room, eat-in kitchen, full bathroom, and two bedrooms. The kitchen leads to a private terrace overlooking Madison Court. This level also provides access to a third-floor attic with high ceilings, currently used for storage with potential for additional uses. The property features a slate roof. The high-ceiling, walk-in basement is configured as a recreation space, complete with a bathroom, bedroom area, laundry, storage, and utility rooms. The basement has its own private rear entrance and connects to the home’s courtyard. Sunnyside Gardens is known for its streets, pre-war charm, and small-town feel. Residents have access to Manhattan via the 7 train, Q32/Q60 Buses, local cafes, restaurants, and small businesses, Sunnyside Gardens Park, and a year-round green farmers market. The bike score is 80, the walk score is 97, and the transit score is 99. Annual Taxes are $8,067.
Key Highlights
- Prime location in the highly desirable, historic Sunnyside Gardens neighborhood.
- Versatile three‑level layout provides options for owner's duplex with rental income or conversion to a single‑family home.
- Enjoy private outdoor spaces including a courtyard, patio, and terrace.
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
$115,861
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
7.73%
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%
$2,317,220
$2.3M
Cap Rate 7%
$1,655,157
$1.7M
Cap Rate 9%
$1,287,344
$1.3M
Market Conditions
NOI Build-Up for 7,000 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
$176.4K $25.20/SF
− Vacancy
−$10.9K −$1.55/SF
EGI
$165.5K $23.65/SF
− OpEx
−$49.7K −$7.09/SF
NOI
$115.9K $16.55/SF
Area
Queens County, NY
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,317,220
Cap Rate 7%
$1,655,157
Cap Rate 9%
$1,287,344
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.14M – $2.85M
NOI $171,111 @ 7.0% cap · market cap 11.42%
Second Best
Multifamily LT 5
$1.66M
$1.45M – $1.93M
NOI $115,861 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$5.16M
$4.52M – $6.02M
NOI $361,234 @ 7.0% cap · market cap 24.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 11104, NY
27,407
Population
13,224
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
68,518
Density / Sq Mi
$84,716
Median Household Income
$60,346
Median Earnings
$1,924
Median Rent
$665,700
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?
Triplex - Charming 5-bedroom townhouse in historic Sunnyside Gardens neighborhood.
Where is this triplex located?
The property is located at 39-47 43rd St Queens, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Prime location in the highly desirable, historic Sunnyside Gardens neighborhood.; Versatile three‑level layout provides options for owner's duplex with rental income or conversion to a single‑family home.; Enjoy private outdoor spaces including a courtyard, patio, and terrace.
