Two-Family Duplex with Finished
For Sale
$1,099,000
147-15 225th street, Springfield Gardens, NY 11413
MULTI_FAMILY - Other - Springfield Gardens, NY
Property Size2,580 SF
Lot Size0.08 Acres
Price / SF$425.97
Days on Market163
Property Features for 147-15 225th street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 2
Subdivision
Jamaica
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #29
Directions
USE GOOGLE MAPS
Standard status
Active
Size
2,580 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
7113
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1965
Floors in Building
2
Flooring type
Hardwood
Building materials
Brick, Aluminum
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Crystal Homes Realty LLC
(347) 744-1061
Listed By:
Basdeo Ramsaroop
(347) 744-1061
Added: Mar 11
Changed: Aug 5
Last Checked: Aug 20 at 2:06AM
MLS# 11671496
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.
Recently remodeled two-family duplex built in 1965. The home features hardwood floors throughout and stainless steel appliances with granite countertops. Interiors are set up with six bedrooms and three full bathrooms, including a fully finished basement.
Mechanically, the property includes separate boilers, hot water tanks, and meters, supporting independent operations for each unit. Exterior materials include brick and aluminum, with an asphalt roof and natural gas hot water and baseboard heat.
A 19-foot wide driveway provides space that can accommodate trucks, vans, and work vehicles. Public water service is available.
Mechanically, the property includes separate boilers, hot water tanks, and meters, supporting independent operations for each unit. Exterior materials include brick and aluminum, with an asphalt roof and natural gas hot water and baseboard heat.
A 19-foot wide driveway provides space that can accommodate trucks, vans, and work vehicles. Public water service is available.
Key Highlights
- Recently remodeled two‑family duplex with fully finished basement
- Six bedrooms and three full bathrooms
- Hardwood floors throughout with stainless steel appliances and granite countertops
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
$63,067
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
5.74%
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%
$1,261,340
$1.3M
Cap Rate 7%
$900,957
$901.0K
Cap Rate 9%
$700,744
$700.7K
Market Conditions
NOI Build-Up for 2,580 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
$119.2K $46.20/SF
− Vacancy
−$4.5K −$1.76/SF
EGI
$114.7K $44.44/SF
− OpEx
−$51.6K −$20.00/SF
NOI
$63.1K $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%
$1,261,340
Cap Rate 7%
$900,957
Cap Rate 9%
$700,744
Alternative Uses
Best Use
Apartment 5plus
$901.0K
$788.3K – $1.05M
NOI $63,067 @ 7.0% cap · market cap 5.74%
Second Best
Multifamily LT 5
$610.0K
$533.8K – $711.7K
NOI $42,703 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,140 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
792
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Recently remodeled two-family duplex with hardwood floors, six bedrooms, three full baths, and separate mechanical systems.
Where is this duplex located?
The property is located at 147-15 225th street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Recently remodeled two‑family duplex with fully finished basement; Six bedrooms and three full bathrooms; Hardwood floors throughout with stainless steel appliances and granite countertops
