Two-Unit Duplex with Detached
For Sale
$699,990
141 Elmwood Street, Valley Stream, NY 11581
Residential Income, Valley Stream, NY
Property Size1,519 SF
Lot Size0.12 Acres
Price / SF$460.82
Days on Market26
Property Features for 141 Elmwood Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 2, Bedroom 1, Dining Room, Bedroom 3, Bathroom 2
Parking
2
Parking features
Off Street, Garage, Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Formal Dining
Basement
Partially Finished, Partial, Storage Space
Lot features
Sprinklers In Front
Elementary school
William L Buck School
Middle school
Valley Stream South High School
High school
Valley Stream South High School
Elementary school district
Valley Stream - 24
Middle school district
Valley Stream Central
High school district
Valley Stream Central
Standard status
Active
APN
2035-39-397-00-0016-0
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12733
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
full partially finished basement
yard sprinkler system
Building Details
Year built
1923
Number of units
2
Building materials
Frame
Listing Agency:
RE/MAX Southshore Realty · RE/MAX International
(718) 276-4848
Listed By:
Kenny Kamil Sattaur
(516) 987-1234
Added: Aug 21
Changed: Sep 15
Last Checked: Sep 15 at 3:06PM
MLS# 1041571
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 frame duplex in Valley Stream includes a two-bedroom apartment above a one-bedroom apartment, with three bedrooms and two full bathrooms overall. Interior features include a first-floor bedroom, first-floor full bath, formal dining room, and a partially finished basement. The property also includes a detached two-car garage, driveway, off-street parking, and a yard sprinkler system.
Set on a 0.1217-acre lot at 141 Elmwood Street, the home is within the Valley Stream 24 School District and the Incorporated Village of Valley Stream. Public water and public sewer serve the property, with natural gas available for heating and window or wall/window cooling units. Built in 1923, the residence offers a defined two-unit arrangement with additional space for residential use.
Set on a 0.1217-acre lot at 141 Elmwood Street, the home is within the Valley Stream 24 School District and the Incorporated Village of Valley Stream. Public water and public sewer serve the property, with natural gas available for heating and window or wall/window cooling units. Built in 1923, the residence offers a defined two-unit arrangement with additional space for residential use.
Key Highlights
- Two‑bedroom apartment over a one‑bedroom apartment
- Three bedrooms and 2 full bathrooms
- Detached 2‑car garage with driveway and off‑street parking
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
$28,939
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
4.13%
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%
$578,780
$578.8K
Cap Rate 7%
$413,414
$413.4K
Cap Rate 9%
$321,544
$321.5K
Market Conditions
NOI Build-Up for 1,519 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
$43.7K $28.80/SF
− Vacancy
−$2.4K −$1.58/SF
EGI
$41.3K $27.22/SF
− OpEx
−$12.4K −$8.16/SF
NOI
$28.9K $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 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%
$578,780
Cap Rate 7%
$413,414
Cap Rate 9%
$321,544
Alternative Uses
Best Use
Multifamily LT 5
$413.4K
$361.7K – $482.3K
NOI $28,939 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.6K
NOI $27,095 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$1.00M
$878.8K – $1.17M
NOI $70,303 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 11581, NY
23,183
Population
7,423
Households
3.1
Avg Household Size
39
Median Age
48%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
8,586
Density / Sq Mi
$138,821
Median Household Income
$61,079
Median Earnings
$2,198
Median Rent
$652,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 apartments, a finished basement, and flexible residential configuration create a practical multifamily layout.
Where is this duplex located?
The property is located at 141 Elmwood Street Valley Stream, NY.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: Two‑bedroom apartment over a one‑bedroom apartment; Three bedrooms and 2 full bathrooms; Detached 2‑car garage with driveway and off‑street parking
