Two-Family Duplex with Finished
For Sale
$1,298,000
13-05 128th Street, College Point, NY 11356
Separate entrances, smart-home upgrades, and a finished lower level add functional flexibility.
Property Size2,473 SF
Lot Size0.04 Acres
Days on Market124
Property Features for 13-05 128th Street
General Information
Standard status
Active
Size
2,473 SF
Total Parking Spaces
1
Lot size
0.04 Acres
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,025
Amenities
app-controlled blinds and lighting
large backyard
Building Details
Building Size
2,473 SF
Year Built
2003
Buildings
1
Tenancy
Multi
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Dan Dan Tian
(347) 925-7201
Source:
Barbieliteam
Added: May 19
Changed: Sep 14
Last Checked: Sep 18 at 12:44PM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 2003, this attached two-family duplex occupies an 18x100 lot with an 18x63 building footprint. Each unit includes a living and dining area, kitchen with high-end appliances, three bedrooms, and two full bathrooms. Both units have separate private entrances, supporting distinct household layouts within the property.
The fully finished basement has separate entrances and an additional full bathroom, with space described for recreation, a home office, or guest use. Smart-home features include app-controlled blinds and lighting. The property also offers a large backyard and a 1-car garage. Located at 13-05 128th Street in College Point, the property is near shops, restaurants, parks, schools, and public transportation, including the Q25 bus.
The fully finished basement has separate entrances and an additional full bathroom, with space described for recreation, a home office, or guest use. Smart-home features include app-controlled blinds and lighting. The property also offers a large backyard and a 1-car garage. Located at 13-05 128th Street in College Point, the property is near shops, restaurants, parks, schools, and public transportation, including the Q25 bus.
Key Highlights
- Two‑family duplex built in 2003
- Each unit offers 3 bedrooms and 2 full bathrooms
- 18x100 lot with an 18x63 building footprint
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
$60,451
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
4.66%
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%
$1,209,020
$1.2M
Cap Rate 7%
$863,586
$863.6K
Cap Rate 9%
$671,678
$671.7K
Market Conditions
NOI Build-Up for 2,473 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
$114.3K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$109.9K $44.44/SF
− OpEx
−$49.5K −$20.00/SF
NOI
$60.5K $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%
$1,209,020
Cap Rate 7%
$863,586
Cap Rate 9%
$671,678
Alternative Uses
Best Use
Apartment 5plus
$863.6K
$755.6K – $1.01M
NOI $60,451 @ 7.0% cap · market cap 4.66%
Second Best
Multifamily LT 5
$584.7K
$511.7K – $682.2K
NOI $40,932 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$1.82M
$1.60M – $2.13M
NOI $127,619 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
944
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
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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 - Separate entrances, smart-home upgrades, and a finished lower level add functional flexibility.
Where is this duplex located?
The property is located at 13-05 128th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Two‑family duplex built in 2003; Each unit offers 3 bedrooms and 2 full bathrooms; 18x100 lot with an 18x63 building footprint
