Duplex with Finished
For Sale
$809,000
14645 182nd Street, Springfield Gardens, NY 11413
Legal two-family residence with separate kitchens, private outdoor space, and a finished lower level with its own entrance.
Property Size1,336 SF
Days on Market33
Property Features for 14645 182nd Street
General Information
Standard status
Active
Size
1,336 SF
Property subtype
Residential Income
Units
Unit Mix
2BR/1BA, 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,759
Amenities
private driveway
fenced backyard
porch
finished basement
separate entrance
solar panels
Building Details
Building Size
1,336 SF
Year Built
2005
Buildings
1
Stories
2
Units
2
Listing Agency:
LAFFEY REAL ESTATE
(718) 347-3202
Listed By:
Kay Mi Kyung M. Kwak SFR
(917) 673-8238
Source:
Mydreamhomerealty
Added: Aug 18
Changed: Sep 18
Last Checked: Sep 18 at 3:04PM
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
Investment Insights
Based on property information with market context.
This legal two-family residence was built in 2005 and includes two distinct living levels. The first floor has two bedrooms, two full bathrooms, a kitchen, and a living room with dining area. Upstairs, the second unit offers two bedrooms, one full bathroom, a kitchen, a living room with dining area, and a rear porch. A fully finished basement adds two rooms, a utility area, and a separate entrance. The property also includes a long private driveway and a fenced backyard.
Three electric meters and three gas meters serve the home, which also has leased solar panels. The property is near JFK Airport, major highways, ground transportation, shopping, restaurants, and School District #29. It is being offered as-is and was mostly updated approximately 15 years ago.
Three electric meters and three gas meters serve the home, which also has leased solar panels. The property is near JFK Airport, major highways, ground transportation, shopping, restaurants, and School District #29. It is being offered as-is and was mostly updated approximately 15 years ago.
Key Highlights
- Legal two‑family home built in 2005
- First‑floor unit includes 2 bedrooms and 2 full baths
- Second‑floor unit includes 2 bedrooms, 1 full bath, and a rear porch
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
$32,658
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
4.04%
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%
$653,160
$653.2K
Cap Rate 7%
$466,543
$466.5K
Cap Rate 9%
$362,867
$362.9K
Market Conditions
NOI Build-Up for 1,336 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
$61.7K $46.20/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$59.4K $44.44/SF
− OpEx
−$26.7K −$20.00/SF
NOI
$32.7K $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 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%
$653,160
Cap Rate 7%
$466,543
Cap Rate 9%
$362,867
Alternative Uses
Best Use
Apartment 5plus
$466.5K
$408.2K – $544.3K
NOI $32,658 @ 7.0% cap · market cap 4.04%
Second Best
Multifamily LT 5
$315.9K
$276.4K – $368.6K
NOI $22,113 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$984.9K
$861.8K – $1.15M
NOI $68,944 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,399
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family residence with separate kitchens, private outdoor space, and a finished lower level with its own entrance.
Where is this duplex located?
The property is located at 14645 182nd Street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $809,000.
What are key features of this property?
This property features: Legal two‑family home built in 2005; First‑floor unit includes 2 bedrooms and 2 full baths; Second‑floor unit includes 2 bedrooms, 1 full bath, and a rear porch
