Duplex with Private
145-67 224th Street, Springfield Gardens, NY 11413
For Sale
$1,295,000
Separate kitchens and living areas on both floors provide a flexible residential layout.
Property Size2,812 SF
Lot Size0.09 Acres
Price / SF$460.53
Days on Market54
Property Features for 145-67 224th Street
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
First Floor Bedroom
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Keller Williams Realty Liberty
(718) 848-4700
Listed By:
Tashan Narine
(929) 888-1800
Source:
Clairedleone
Added: Sep 16
Changed: Nov 7
Last Checked: Nov 7 at 4:16PM
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 Keller Williams Realty Liberty
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Investment Insights
Based on property information with market context.
This 2,812-square-foot duplex sits on a 4,000-square-foot lot and was built in 1960. The first floor has three bedrooms, a full bath, a half bath, a kitchen, dining area, and living room. Upstairs are two bedrooms, a full bath, a kitchen, and a living area. Unfinished space at ground level may offer additional use, subject to applicable approvals. A private driveway and backyard are also part of the property.
The property is in Springfield Gardens, Queens, about 2.4 miles from Green Acres Mall. Public transportation options include the Laurelton LIRR station and Q85 and Q89 bus service; major roadways are also nearby.
The property is in Springfield Gardens, Queens, about 2.4 miles from Green Acres Mall. Public transportation options include the Laurelton LIRR station and Q85 and Q89 bus service; major roadways are also nearby.
Key Highlights
- 2,812 square feet of living space on a 4,000‑square‑foot lot
- First floor includes 3 bedrooms, 1 full bath, 1 half bath, kitchen, dining area, and living room
- Second floor has 2 bedrooms, a kitchen, living area, and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,738
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,374,760
$1.4M
Cap Rate 7%
$981,971
$982.0K
Cap Rate 9%
$763,756
$763.8K
Market Conditions
NOI Build-Up for 2,812 SF
Gross rent
$129.9K $46.20/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$125.0K $44.44/SF
− OpEx
−$56.2K −$20.00/SF
NOI
$68.7K $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%
$1,374,760
Cap Rate 7%
$981,971
Cap Rate 9%
$763,756
Alternative Uses
Best Use
Apartment 5plus
$982.0K
$859.2K – $1.15M
NOI $68,738 @ 7.0% cap · market cap 5.31%
Second Best
Multifamily LT 5
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,113 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,276
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
Properties on Market for Duplexes in Springfield Gardens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate kitchens and living areas on both floors provide a flexible residential layout.
Where is this duplex located?
The property is located at 145-67 224th Street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 2,812 square feet of living space on a 4,000‑square‑foot lot; First floor includes 3 bedrooms, 1 full bath, 1 half bath, kitchen, dining area, and living room; Second floor has 2 bedrooms, a kitchen, living area, and full bathroom
