Duplex with Finished
New
For Sale
$1,399,000
146 Avenue And 229th St, Springfield Gardens, NY 11413
Residential Income, Springfield Gardens, NY
Property Size2,150 SF
Lot Size0.08 Acres
Price / SF$650.70
Days on Market3
Property Features for 146 Avenue And 229th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 1, Bathroom 5, Laundry Room, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 4
Standard status
Active
Size
2,150 SF
Lot size
0.08 Acres
Utilities
Heating system
Natural Gas
Amenities
A/C
washer and dryer
balcony
Building Details
Year built
2026
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Vinyl Siding, Brick
Listing Agency:
JNL REALTY PROPERTY INC
(718) 803-2953
Listed By:
Bertha Luzquinos
(646) 641-0703
Added: Sep 19
Last Checked: Sep 21 at 7:06PM
MLS# 11993329
Copyright © 2026 My State 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 duplex is under construction for completion in 2026 and provides 2,150 square feet across two residential levels. Each floor is arranged with a living and dining area, island kitchen, laundry appliances, full bathrooms, two bedrooms, and a primary bedroom with its own bath and closet. The finished basement has a separate entrance, while a driveway and second-floor balcony add practical exterior features.
The property occupies 0.0826 acres and combines vinyl siding with brick construction materials. Interior finishes include hardwood and tile flooring, with natural gas heating. The configuration offers two distinct residential layouts within one building, supported by a total of six bedrooms and five bathrooms listed for the property.
The property occupies 0.0826 acres and combines vinyl siding with brick construction materials. Interior finishes include hardwood and tile flooring, with natural gas heating. The configuration offers two distinct residential layouts within one building, supported by a total of six bedrooms and five bathrooms listed for the property.
Key Highlights
- Two‑family duplex configuration with two separate residential floor plans
- 2,150 square feet on a 0.0826‑acre lot
- Full finished basement with separate entrance
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
$52,556
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
3.76%
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%
$1,051,120
$1.1M
Cap Rate 7%
$750,800
$750.8K
Cap Rate 9%
$583,956
$584.0K
Market Conditions
NOI Build-Up for 2,150 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
$99.3K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$95.6K $44.44/SF
− OpEx
−$43.0K −$20.00/SF
NOI
$52.6K $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%
$1,051,120
Cap Rate 7%
$750,800
Cap Rate 9%
$583,956
Alternative Uses
Best Use
Apartment 5plus
$750.8K
$657.0K – $875.9K
NOI $52,556 @ 7.0% cap · market cap 3.76%
Second Best
Multifamily LT 5
$508.4K
$444.8K – $593.1K
NOI $35,586 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$1.58M
$1.39M – $1.85M
NOI $110,950 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
536
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
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-level duplex with separate living areas, private laundry, full basement, driveway, and balcony.
Where is this duplex located?
The property is located at 146 Avenue And 229th St Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two‑family duplex configuration with two separate residential floor plans; 2,150 square feet on a 0.0826‑acre lot; Full finished basement with separate entrance
