Renovated Seven-Bedroom
New
For Sale
$1,349,000
140-24 Quince Avenue, Flushing, NY 11355
Two-family layout with finished lower-level, attic, and backyard storage areas offers flexible residential space.
Property Size1,764 SF
Lot Size0.06 Acres
Price / SF$764.74
Days on Market6
Property Features for 140-24 Quince Avenue
General Information
Standard status
Active
Size
1,764 SF
Lot size
0.06 Acres
Property subtype
Duplex
Units
Unit Mix
4BR/2BA, 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,955
Building Details
Building Size
1,764 SF
Year Built
1930
Buildings
1
Listing Agency:
E Realty International Corp
Listed By:
Yue Qi
(718) 886-8110
Source:
Barbieliteam
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 18 at 1:22PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This detached duplex in Flushing contains approximately 1,764 square feet on an approximately 25.42 x 100 lot. The first floor has four bedrooms and two full bathrooms, while the second floor includes three bedrooms and two full bathrooms. Interior and exterior renovations were completed earlier this year.
Additional space includes a finished, high-ceiling basement with exterior access from the side and rear, plus a full-height attic reached by a permanent interior staircase. The property also features a finished backyard storage structure and newly poured concrete at the front and along the side walkway. Supermarkets, schools, parks, and public transportation are nearby, with Q17 and Q25 bus stops within a short walk and Queens College approximately five minutes away by car. Built in 1930.
Additional space includes a finished, high-ceiling basement with exterior access from the side and rear, plus a full-height attic reached by a permanent interior staircase. The property also features a finished backyard storage structure and newly poured concrete at the front and along the side walkway. Supermarkets, schools, parks, and public transportation are nearby, with Q17 and Q25 bus stops within a short walk and Queens College approximately five minutes away by car. Built in 1930.
Key Highlights
- Two‑family duplex with 7 bedrooms and 4 full bathrooms
- Approximately 1,764 square feet on an approximately 25.42 x 100 lot
- Finished high‑ceiling basement with side and rear exterior access
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
$43,120
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
3.20%
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%
$862,400
$862.4K
Cap Rate 7%
$616,000
$616.0K
Cap Rate 9%
$479,111
$479.1K
Market Conditions
NOI Build-Up for 1,764 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
$81.5K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$78.4K $44.44/SF
− OpEx
−$35.3K −$20.00/SF
NOI
$43.1K $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%
$862,400
Cap Rate 7%
$616,000
Cap Rate 9%
$479,111
Alternative Uses
Best Use
Apartment 5plus
$616.0K
$539.0K – $718.7K
NOI $43,120 @ 7.0% cap · market cap 3.20%
Second Best
Multifamily LT 5
$417.1K
$365.0K – $486.6K
NOI $29,197 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,031 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
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 - Two-family layout with finished lower-level, attic, and backyard storage areas offers flexible residential space.
Where is this duplex located?
The property is located at 140-24 Quince Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Two‑family duplex with 7 bedrooms and 4 full bathrooms; Approximately 1,764 square feet on an approximately 25.42 x 100 lot; Finished high‑ceiling basement with side and rear exterior access
