Six-Bedroom Duplex
For Sale
$1,099,000
147-15 225th street, Springfield Gardens, NY 11413
Residential Income, Springfield Gardens, NY
Property Size2,580 SF
Lot Size0.08 Acres
Price / SF$425.97
Days on Market209
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 4, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, 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
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Amenities
hardwood floors
stainless steel appliances
granite counter tops
finished basement
driveway
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
Listed By:
Basdeo Ramsaroop
(347) 744-1061
Added: Mar 11
Changed: Sep 17
Last Checked: Oct 5 at 8:06AM
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.
This two-family duplex offers 6 bedrooms and 3 full baths within 2580 square feet. The interior includes hardwood flooring, stainless steel appliances, granite countertops, and a fully finished basement. Separate boilers, hot water tanks, and meters serve the property. Built in 1965, the home has brick and aluminum construction, asphalt roofing, natural gas heat, and public water.
A 19 feet wide driveway provides room for trucks, vans, and work vehicles. The property is near highways, shops, Green Acres Mall, schools, places of worship, and airports. Its 0.0826-acre lot is located in Springfield Gardens, NY 11413.
A 19 feet wide driveway provides room for trucks, vans, and work vehicles. The property is near highways, shops, Green Acres Mall, schools, places of worship, and airports. Its 0.0826-acre lot is located in Springfield Gardens, NY 11413.
Key Highlights
- 6 bedrooms and 3 full baths
- 2580 square feet on a 0.0826‑acre lot
- Fully finished basement
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
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Current Use
Lease Details
2
Residential units
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
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-family residence with finished basement, separate mechanical systems, and a driveway suited to work vehicles.
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: 6 bedrooms and 3 full baths; 2580 square feet on a 0.0826‑acre lot; Fully finished basement
