2-Unit Duplex with Full
For Sale
$799,999
145-59 222nd Street, Springfield Gardens, NY 11413
Each residence has a living room and kitchen, while a shared driveway provides parking access.
Property Size1,535 SF
Price / SF$521.17
Days on Market33
Property Features for 145-59 222nd Street
General Information
Standard status
Active
Size
1,535 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
needs work
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,971
Amenities
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
1,535 SF
Year Built
1935
Buildings
1
Units
2
Listing Agency:
LAFFEY REAL ESTATE
(516) 333-0025
Listed By:
Dean C. Robb Jr
(516) 402-9075
Source:
Halknopfrealty
Added: Sep 25
Changed: Oct 26
Last Checked: Oct 26 at 4:01AM
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 LAFFEY REAL ESTATE
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Investment Insights
Based on property information with market context.
This 1,535-square-foot duplex, built in 1935, contains two residences, each with two bedrooms, one bathroom, a living room, and a kitchen. Hardwood flooring is present in the primary living areas. A full basement remains unfinished and has its own entrance, along with existing plumbing and electrical connections. The property is being sold as-is and requires work.
Located at 145-59 222nd Street in Springfield Gardens, the property has a shared driveway. Public transportation, JFK Airport, and major highways are identified as nearby transportation connections.
Located at 145-59 222nd Street in Springfield Gardens, the property has a shared driveway. Public transportation, JFK Airport, and major highways are identified as nearby transportation connections.
Key Highlights
- Two residences, each configured with 2 bedrooms and 1 bathroom
- Full unfinished basement with separate entrance and existing plumbing and electrical connections
- 1,535 square feet; built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,522
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$750,440
$750.4K
Cap Rate 7%
$536,029
$536.0K
Cap Rate 9%
$416,911
$416.9K
Market Conditions
NOI Build-Up for 1,535 SF
Gross rent
$70.9K $46.20/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$68.2K $44.44/SF
− OpEx
−$30.7K −$20.00/SF
NOI
$37.5K $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%
$750,440
Cap Rate 7%
$536,029
Cap Rate 9%
$416,911
Alternative Uses
Best Use
Apartment 5plus
$536.0K
$469.0K – $625.4K
NOI $37,522 @ 7.0% cap · market cap 4.69%
Second Best
Multifamily LT 5
$363.0K
$317.6K – $423.5K
NOI $25,407 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,213 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
892
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a living room and kitchen, while a shared driveway provides parking access.
Where is this duplex located?
The property is located at 145-59 222nd Street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Two residences, each configured with 2 bedrooms and 1 bathroom; Full unfinished basement with separate entrance and existing plumbing and electrical connections; 1,535 square feet; built in 1935
