Two-Unit Duplex with
For Sale
$1,199,000
14 Chestnut Street, Lynbrook, NY 11563
Separate bedroom layouts are complemented by finished basement space, a dedicated office, and off-street parking.
Property Size2,536 SF
Price / SF$472.79
Days on Market50
Property Features for 14 Chestnut Street
General Information
Standard status
Active
Size
2,536 SF
Total Parking Spaces
7
Property subtype
Residential Income
Units
Unit Mix
2BR/1.5BA, 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,647
Amenities
Eat-in Kitchen
Building Details
Building Size
2,536 SF
Year Built
1913
Buildings
1
Units
2
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: Sep 6
Changed: Oct 23
Last Checked: Oct 23 at 8:56AM
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 Gail Leone
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Investment Insights
Based on property information with market context.
This legal two-family home in Lynbrook contains two separate residences. The first-floor unit has 2 bedrooms, 1.5 bathrooms, a dining area, and an eat-in kitchen. The second offers 3 bedrooms, 1.5 bathrooms, an eat-in kitchen, formal dining room, and partial attic storage. A full finished basement has an outside entrance, dedicated office, and an additional full bathroom. Gas heat serves the property, which was built in 1913.
The exterior includes a 2-car garage and driveway parking for up to 7 cars total. The property is within the Malverne Union Free School District and is zoned for Davison Avenue Intermediate, Howard T. Herber Middle, and Malverne High School.
The exterior includes a 2-car garage and driveway parking for up to 7 cars total. The property is within the Malverne Union Free School District and is zoned for Davison Avenue Intermediate, Howard T. Herber Middle, and Malverne High School.
Key Highlights
- Legal two‑family home with 2‑bedroom and 3‑bedroom units
- First‑floor unit includes 1.5 bathrooms, dining area, and eat‑in kitchen
- Second unit has 1.5 bathrooms, formal dining room, eat‑in kitchen, and partial attic storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,314
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,280
$966.3K
Cap Rate 7%
$690,200
$690.2K
Cap Rate 9%
$536,822
$536.8K
Market Conditions
NOI Build-Up for 2,536 SF
Gross rent
$73.0K $28.80/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$69.0K $27.22/SF
− OpEx
−$20.7K −$8.16/SF
NOI
$48.3K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,280
Cap Rate 7%
$690,200
Cap Rate 9%
$536,822
Alternative Uses
Best Use
Multifamily LT 5
$690.2K
$603.9K – $805.2K
NOI $48,314 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$646.2K
$565.5K – $753.9K
NOI $45,236 @ 7.0% cap · market cap 3.77%
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,372 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,657
Businesses Nearby
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Business Placement
Demographics for 11563, NY
23,349
Population
8,088
Households
2.9
Avg Household Size
43
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
10,152
Density / Sq Mi
$138,006
Median Household Income
$65,565
Median Earnings
$2,173
Median Rent
$595,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate bedroom layouts are complemented by finished basement space, a dedicated office, and off-street parking.
Where is this duplex located?
The property is located at 14 Chestnut Street Lynbrook, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Legal two‑family home with 2‑bedroom and 3‑bedroom units; First‑floor unit includes 1.5 bathrooms, dining area, and eat‑in kitchen; Second unit has 1.5 bathrooms, formal dining room, eat‑in kitchen, and partial attic storage
