Renovated Two-Family
New
For Sale
$1,175,000
14014 Charles Lane, Springfield Gardens, NY 11413
Residential, Springfield Gardens, NY
Property Size4,000 SF
Lot Size0.09 Acres
Price / SF$293.75
Days on Market4
Property Features for 14014 Charles Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 2, Bathroom 5, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 7
Basement
Finished, Full
Subdivision
Springfield Gardens
Standard status
Active
Size
4,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
9029
Amenities
private driveway
oversized backyard
lower level with full bathroom and separate outside entrance
Building Details
Year built
2005
Floors in Building
2
Number of units
1
Listing Agency:
Fave Manhattan
(646) 642-4340
Listed By:
Rahreese Kenchen · License #RMR005476
(516) 519-8049
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 3:06AM
MLS# 505023
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 renovated two-family property contains two residences, each with 3 bedrooms and 2 full bathrooms. Both units have open living and dining areas, updated kitchens with quartz countertops and stainless steel appliances, and renovated bathrooms. The finished lower level includes a full bathroom and a separate exterior entrance. The property was built in 2005 and has 4,000 square feet of building area on a 0.086-acre lot.
Outdoor features include an oversized backyard and a private driveway with parking for multiple vehicles. The property is near shopping, dining, schools, parks, public transportation, JFK Airport, the Belt Parkway, and the Cross Island Parkway. Zoning is R3-1.
Outdoor features include an oversized backyard and a private driveway with parking for multiple vehicles. The property is near shopping, dining, schools, parks, public transportation, JFK Airport, the Belt Parkway, and the Cross Island Parkway. Zoning is R3-1.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full bathrooms
- 4,000 square feet of building area on a 0.086‑acre lot
- Renovated kitchens feature quartz countertops and stainless steel appliances
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
$97,778
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
8.32%
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%
$1,955,560
$2.0M
Cap Rate 7%
$1,396,829
$1.4M
Cap Rate 9%
$1,086,422
$1.1M
Market Conditions
NOI Build-Up for 4,000 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
$184.8K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$177.8K $44.44/SF
− OpEx
−$80.0K −$20.00/SF
NOI
$97.8K $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%
$1,955,560
Cap Rate 7%
$1,396,829
Cap Rate 9%
$1,086,422
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,778 @ 7.0% cap · market cap 8.32%
Second Best
Multifamily LT 5
$945.8K
$827.6K – $1.10M
NOI $66,206 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 17.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 11413, NY
42,978
Population
14,485
Households
3
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
3.0 sq mi
ZIP Area
14,326
Density / Sq Mi
$114,766
Median Household Income
$50,525
Median Earnings
$2,038
Median Rent
$631,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, two full bathrooms, and open living and dining areas.
Where is this duplex located?
The property is located at 14014 Charles Lane Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full bathrooms; 4,000 square feet of building area on a 0.086‑acre lot; Renovated kitchens feature quartz countertops and stainless steel appliances
