Semi-Detached Brick Two-Family
For Sale
$1,280,000
Pending
12816 23RD Avenue, College Point, NY 11356
MULTI_FAMILY - College Point, NY
Property Size2,080 SF
Lot Size0.07 Acres
Days on Market117
Property Features for 12816 23RD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 4
Standard status
Pending
APN
04232-0037
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9811
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Amenities
A/C
private landscaped front yard
Building Details
Year built
1960
Number of units
2
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Meiying Lin · License #10401290222
(646) 708-2063
Added: Apr 14
Changed: Aug 4
Last Checked: Aug 8 at 11:06PM
MLS# 985228
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Semi-detached brick two-family house offered in move-in ready condition, featuring A/C and a private landscaped front yard. The home includes five bedrooms and three bathrooms, plus ample storage. Heating is natural gas, and cooling is electric.
The property sits on a 0.0682-acre lot with a huge driveway. Building size is 2,080 sqft (20X52), and the property was built in 1960. It is served by public water and public sewer, and the boiler and heater have been replaced, per the provided details.
Zoned R4-1, this is a two-family duplex option with straightforward utilities and a practical layout for day-to-day living. Proof of funds or a pre-approval letter is required.
The property sits on a 0.0682-acre lot with a huge driveway. Building size is 2,080 sqft (20X52), and the property was built in 1960. It is served by public water and public sewer, and the boiler and heater have been replaced, per the provided details.
Zoned R4-1, this is a two-family duplex option with straightforward utilities and a practical layout for day-to-day living. Proof of funds or a pre-approval letter is required.
Key Highlights
- R4‑1 zoned semi‑detached brick two‑family duplex with A/C
- Lot size: 0.0682 acres with a private landscaped front yard
- Building size: 2,080 sqft (20X52) built in 1960
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
$50,844
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
3.97%
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%
$1,016,880
$1.0M
Cap Rate 7%
$726,343
$726.3K
Cap Rate 9%
$564,933
$564.9K
Market Conditions
NOI Build-Up for 2,080 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
$96.1K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$92.4K $44.44/SF
− OpEx
−$41.6K −$20.00/SF
NOI
$50.8K $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%
$1,016,880
Cap Rate 7%
$726,343
Cap Rate 9%
$564,933
Alternative Uses
Best Use
Apartment 5plus
$726.3K
$635.6K – $847.4K
NOI $50,844 @ 7.0% cap · market cap 3.97%
Second Best
Multifamily LT 5
$491.8K
$430.3K – $573.8K
NOI $34,427 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,338 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R4-1 zoned semi-detached two-family brick duplex with A/C, public water and sewer, and private landscaped front yard.
Where is this duplex located?
The property is located at 12816 23RD Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: R4‑1 zoned semi‑detached brick two‑family duplex with A/C; Lot size: 0.0682 acres with a private landscaped front yard; Building size: 2,080 sqft (20X52) built in 1960
