Two-Family Home with Finished
For Sale
$880,000
Pending
14538 Tuskegee Airmen Way, Queens, NY 11435
Legal two-family home with a finished attic and garage.
Property Size2,610 SF
Lot Size0.06 Acres
Days on Market279
Property Features for 14538 Tuskegee Airmen Way
General Information
Standard status
Pending
Size
2,610 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,963
Building Details
Building Size
2,610 SF
Year Built
1910
Units
2
Listed By:
Robert Bretscher
(718) 845-8877
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 31
Last Checked: Sep 1 at 9:45PM
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 Robert Bretscher
Investment Insights
Based on property information with market context.
This is a legal two-family property featuring a finished attic with two additional bedrooms. The property includes a detached one-car garage and will be delivered vacant.
Key Highlights
- Legal 2 family
- Finished attic with 2 additional bedrooms
- Delivered vacant
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
$63,800
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
7.25%
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%
$1,276,000
$1.3M
Cap Rate 7%
$911,429
$911.4K
Cap Rate 9%
$708,889
$708.9K
Market Conditions
NOI Build-Up for 2,610 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
$120.6K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$116.0K $44.44/SF
− OpEx
−$52.2K −$20.00/SF
NOI
$63.8K $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%
$1,276,000
Cap Rate 7%
$911,429
Cap Rate 9%
$708,889
Alternative Uses
Best Use
Apartment 5plus
$911.4K
$797.5K – $1.06M
NOI $63,800 @ 7.0% cap · market cap 7.25%
Second Best
Multifamily LT 5
$617.1K
$540.0K – $720.0K
NOI $43,200 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,689 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 11435, NY
58,980
Population
21,180
Households
2.8
Avg Household Size
38
Median Age
32%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
39,320
Density / Sq Mi
$79,430
Median Household Income
$43,354
Median Earnings
$1,820
Median Rent
$550,300
Median Home Value
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 - Legal two-family home with a finished attic and garage.
Where is this duplex located?
The property is located at 14538 Tuskegee Airmen Way Queens, NY.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Legal 2 family; Finished attic with **2 additional bedrooms**; Delivered vacant
