Renovated Two-Family
New
For Sale
$1,349,000
140-24 Quince Avenue, Flushing, NY 11355
Residential Income, Flushing, NY
Property Size1,764 SF
Lot Size0.06 Acres
Price / SF$764.74
Days on Market7
Property Features for 140-24 Quince Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Basement, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 4
Basement
Finished, Full
Elementary school
Ps 24 Andrew Jackson
Middle school
Is 237
High school
East-West School Of International Studies
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Active
APN
05230-0007
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8955
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
2
Building materials
Frame
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Yue Qi
(929) 888-0202
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 19 at 3:06AM
MLS# 1050693
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.
This detached duplex was substantially renovated inside and out earlier this year. The approximately 1,764-square-foot residence contains two separate living levels, with four bedrooms and two full bathrooms on the first floor and three bedrooms with two full bathrooms upstairs. A finished, high-ceiling basement has exterior access from the side and rear, while the full-height attic is reached by a permanent interior staircase. Both areas provide additional usable space beyond the primary floors.
The property occupies an approximately 25.42 x 100 lot and includes a finished storage structure in the backyard. Newly poured concrete covers the front area and side walkway. Public water and sewer serve the property, which uses natural-gas heating and wall/window cooling units. Supermarkets, schools, parks, and public transportation are nearby; Q17 and Q25 bus stops are within a short walk, and Queens College is approximately five minutes away by car.
The property occupies an approximately 25.42 x 100 lot and includes a finished storage structure in the backyard. Newly poured concrete covers the front area and side walkway. Public water and sewer serve the property, which uses natural-gas heating and wall/window cooling units. Supermarkets, schools, parks, and public transportation are nearby; Q17 and Q25 bus stops are within a short walk, and Queens College is approximately five minutes away by car.
Key Highlights
- Two‑family duplex with 7 bedrooms and 4 full bathrooms
- Approximately 1,764 square feet on a 0.0584‑acre lot
- Extensive interior and exterior renovations completed earlier this year
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
Check the figures for this property
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 - Detached duplex with finished lower-level and attic areas, backyard storage, and access to public transportation.
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 a 0.0584‑acre lot; Extensive interior and exterior renovations completed earlier this year
