Remodeled Duplex with Finished
For Sale
Contact for pricing
147-15 225th street, Springfield Gardens, NY 11413
Two-family layout includes separate building systems, hardwood flooring, stainless steel appliances, and a finished basement.
Property Size3,600 SF
Price / SF$305.28
Days on Market175
Property Features for 147-15 225th street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Crystal Homes Realty LLC
(347) 744-1061
Listed By:
Basdeo Ramsaroop
Source:
Crexi
Added: Mar 12
Changed: Aug 31
Last Checked: Aug 30 at 5:21PM
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 Crystal Homes Realty LLC
Investment Insights
Based on property information with market context.
This remodeled duplex offers 3,600 square feet with six bedrooms and three full baths. Interior features include hardwood flooring, stainless steel appliances, and granite countertops. The property also has a finished basement and separate boilers, hot water tanks, and meters for the two-family configuration.
A 19-foot-wide driveway accommodates trucks, vans, and work vehicles. The property is near highways, shops, Green Acres Mall, schools, places of worship, and airports. Built in 1965, it is located in Springfield Gardens, NY 11413.
A 19-foot-wide driveway accommodates trucks, vans, and work vehicles. The property is near highways, shops, Green Acres Mall, schools, places of worship, and airports. Built in 1965, it is located in Springfield Gardens, NY 11413.
Key Highlights
- 3,600‑square‑foot duplex with six bedrooms and three full baths
- Finished basement adds usable interior space
- Separate boilers, hot water tanks, and meters
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
$88,000
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
8.01%
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%
$1,760,000
$1.8M
Cap Rate 7%
$1,257,143
$1.3M
Cap Rate 9%
$977,778
$977.8K
Market Conditions
NOI Build-Up for 3,600 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
$166.3K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$160.0K $44.44/SF
− OpEx
−$72.0K −$20.00/SF
NOI
$88.0K $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%
$1,760,000
Cap Rate 7%
$1,257,143
Cap Rate 9%
$977,778
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 8.01%
Second Best
Multifamily LT 5
$851.2K
$744.8K – $993.1K
NOI $59,586 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,791
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout includes separate building systems, hardwood flooring, stainless steel appliances, and a finished basement.
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: 3,600‑square‑foot duplex with six bedrooms and three full baths; Finished basement adds usable interior space; Separate boilers, hot water tanks, and meters
