Detached Two-Family
For Sale
$1,150,000
Pending
1304 123rd Street, College Point, NY 11356
MULTI_FAMILY - College Point, NY
Property Size2,048 SF
Lot Size0.06 Acres
Days on Market170
Property Features for 1304 123rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 5, Basement, Bedroom 1, Bedroom 3
Parking features
On Street
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Full, Finished
Elementary school
Ps 129 Patricia Larkin
Middle school
Jhs 185 Edward Bleeker
High school
Flushing High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Pending
APN
03997-0027
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7734
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating)
Cooling system
Ductless, Electric
Water source
Public
Amenities
hardwood flooring
split-type air conditioning
natural gas heaters
hot water tanks
finished basement with separate entrance
leased solar panels
oversized front deck
large backyard
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood
Building materials
Frame, Vinyl Siding
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Lirong Shao · License #10401362375
(347) 379-3843
Added: Feb 24
Changed: Aug 3
Last Checked: Aug 13 at 7:06AM
MLS# 964611
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.
Detached two-family duplex with hardwood flooring, split-type air conditioning, and a mix of electric and natural gas heating. The home includes two natural gas heaters and two hot water tanks, plus a fully finished basement with a half bath and a separate entrance. Interior features include first-floor bedroom and full bath, along with an eat-in kitchen. A rear backyard and an oversized front deck add outdoor living space, and leased solar panels provide added energy efficiency.
Set on a 2,500 sq ft lot, the building is approximately 20x50 and totals about 2,048 sq ft of living space. Constructed in 1920 with frame construction and vinyl siding, the property has public water and public sewer service and on-street parking. It is located about a 10-minute drive to Flushing and roughly two blocks from the Q20, Q25, and Q26 bus lines, near College Point Blvd and multiple neighborhood retail and services.
Zoned R4A, this duplex offers two-family living in a detached configuration with an additional separate-entry option in the finished basement.
Set on a 2,500 sq ft lot, the building is approximately 20x50 and totals about 2,048 sq ft of living space. Constructed in 1920 with frame construction and vinyl siding, the property has public water and public sewer service and on-street parking. It is located about a 10-minute drive to Flushing and roughly two blocks from the Q20, Q25, and Q26 bus lines, near College Point Blvd and multiple neighborhood retail and services.
Zoned R4A, this duplex offers two-family living in a detached configuration with an additional separate-entry option in the finished basement.
Key Highlights
- Zoned R4A detached two‑family duplex on a 2,500 sq ft lot
- About 2,048 sq ft living space; building approx. 20x50
- Fully finished basement with half bath and separate entrance
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
$50,062
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
4.35%
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%
$1,001,240
$1.0M
Cap Rate 7%
$715,171
$715.2K
Cap Rate 9%
$556,244
$556.2K
Market Conditions
NOI Build-Up for 2,048 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
$94.6K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.0K $44.44/SF
− OpEx
−$41.0K −$20.00/SF
NOI
$50.1K $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%
$1,001,240
Cap Rate 7%
$715,171
Cap Rate 9%
$556,244
Alternative Uses
Best Use
Apartment 5plus
$715.2K
$625.8K – $834.4K
NOI $50,062 @ 7.0% cap · market cap 4.35%
Second Best
Multifamily LT 5
$484.3K
$423.7K – $565.0K
NOI $33,898 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,687 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
981
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex zoned R4A with leased solar panels, hardwood floors, split-type air conditioning, and a finished basement with a separate entrance.
Where is this duplex located?
The property is located at 1304 123rd Street College Point, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Zoned R4A detached two‑family duplex on a 2,500 sq ft lot; About 2,048 sq ft living space; building approx. 20x50; Fully finished basement with half bath and separate entrance
