Two-Unit Duplex with Finished
New
For Sale
$1,150,000
Pending
14426 229th Street, Springfield Gardens, NY 11413
Both residences offer three bedrooms, a full kitchen, a living room, and a separate dining area.
Property Size2,288 SF
Days on Market4
Property Features for 14426 229th Street
General Information
Standard status
Pending
Size
2,288 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,919
Amenities
finished basement
laundry room
Finished
2
No
Yes
6
First Floor Bedroom,Primary Bathroom
Other
Driveway, Garage
Brick/Mortar
2288
Building Details
Building Size
2,288 SF
Year Built
1960
Buildings
1
Stories
2
Listing Agency:
(516) 703-2918
Listed By:
John Taylor
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:23PM
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 John Taylor
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Investment Insights
Based on property information with market context.
Built in 1960, this 2,288-square-foot duplex has two matching residences. Each floor includes three bedrooms, one full bath, a kitchen, a living room, and a separate dining area. The finished basement adds a full bath and a dedicated laundry room. The property also has a driveway and garage.
Public transportation options include the Babylon, Long Beach, and Far Rockaway rail lines, along with the Q85, Q89, Q111, and Q77 bus lines.
Public transportation options include the Babylon, Long Beach, and Far Rockaway rail lines, along with the Q85, Q89, Q111, and Q77 bus lines.
Key Highlights
- Two residences, each with 3 bedrooms and 1 full bath
- 2,288 square feet; built in 1960
- Finished basement with a full bath and dedicated laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,929
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,118,580
$1.1M
Cap Rate 7%
$798,986
$799.0K
Cap Rate 9%
$621,433
$621.4K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$105.7K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$101.7K $44.44/SF
− OpEx
−$45.8K −$20.00/SF
NOI
$55.9K $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 Rate 5%
$1,118,580
Cap Rate 7%
$798,986
Cap Rate 9%
$621,433
Alternative Uses
Best Use
Apartment 5plus
$799.0K
$699.1K – $932.2K
NOI $55,929 @ 7.0% cap · market cap 4.86%
Second Best
Multifamily LT 5
$541.0K
$473.4K – $631.2K
NOI $37,870 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,072 @ 7.0% cap · market cap 10.27%
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
731
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, a full kitchen, a living room, and a separate dining area.
Where is this duplex located?
The property is located at 14426 229th Street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 full bath; 2,288 square feet; built in 1960; Finished basement with a full bath and dedicated laundry room
