Brick Duplex with Detached
New
For Sale
$1,249,000
133-32 115th Street, South Ozone Park, NY 11420
Residential, South Ozone Park, NY
Property Size1,850 SF
Lot Size0.07 Acres
Price / SF$675.14
Days on Market3
Property Features for 133-32 115th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3A
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 2
Parking features
Garage - Detached
Interior features
Central Air, Dishwasher, Dryer, Microwave, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
South Ozone Park
Standard status
Active
Size
1,850 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6281
Building Details
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Jia Huang · License #10401354676
(347) 401-8224
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 7 at 6:06PM
MLS# 504298
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
This fully detached brick duplex was rebuilt in 2011 and offers 1,850 square feet of above-ground living space plus a finished basement. Each level includes two bedrooms, while the property provides four bathrooms, hardwood flooring, and dual-zone central heating and cooling. The kitchen areas include a stove, refrigerator, dishwasher, microwave, washer, and dryer.
Outdoor improvements include a private driveway accommodating up to four vehicles, a detached garage, and paved front and rear yards. The property is located at 133-32 115th Street in South Ozone Park, Queens, with R3A zoning. Asphalt roofing and updated electrical wiring and plumbing further define the improvements.
Outdoor improvements include a private driveway accommodating up to four vehicles, a detached garage, and paved front and rear yards. The property is located at 133-32 115th Street in South Ozone Park, Queens, with R3A zoning. Asphalt roofing and updated electrical wiring and plumbing further define the improvements.
Key Highlights
- Fully detached, full‑brick duplex rebuilt in 2011
- 1,850 square feet of above‑ground living space plus finished basement
- Two bedrooms on each floor and four bathrooms
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
$45,222
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
3.62%
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%
$904,440
$904.4K
Cap Rate 7%
$646,029
$646.0K
Cap Rate 9%
$502,467
$502.5K
Market Conditions
NOI Build-Up for 1,850 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
$85.5K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$82.2K $44.44/SF
− OpEx
−$37.0K −$20.00/SF
NOI
$45.2K $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 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%
$904,440
Cap Rate 7%
$646,029
Cap Rate 9%
$502,467
Alternative Uses
Best Use
Apartment 5plus
$646.0K
$565.3K – $753.7K
NOI $45,222 @ 7.0% cap · market cap 3.62%
Second Best
Multifamily LT 5
$437.4K
$382.8K – $510.3K
NOI $30,620 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,469 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 11420, NY
47,383
Population
14,835
Households
3.2
Avg Household Size
40
Median Age
22%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
22,563
Density / Sq Mi
$98,584
Median Household Income
$45,571
Median Earnings
$2,032
Median Rent
$673,700
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?
Duplex - Two-family layout with a finished basement, central air, and private outdoor areas.
Where is this duplex located?
The property is located at 133-32 115th Street South Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Fully detached, full‑brick duplex rebuilt in 2011; 1,850 square feet of above‑ground living space plus finished basement; Two bedrooms on each floor and four bathrooms
