Detached Two-Family
For Sale
$949,990
147-23 225th Street, Springfield Gardens, NY 11413
Separate upper- and lower-level apartments offer a two-bedroom and three-bedroom layout in a detached residential property.
Property Size2,112 SF
Days on Market18
Property Features for 147-23 225th Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,592
Building Details
Building Size
2,112 SF
Year Built
1965
Units
2
Listing Agency:
RE/MAX Southshore Realty
(718) 276-4848
Listed By:
Kenny Kamil Sattaur
(718) 276-4848
Source:
Cohenandcohenrealty
Added: Jul 19
Changed: Aug 5
Last Checked: Aug 5 at 7:45AM
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 RE/MAX Southshore Realty
Investment Insights
Based on property information with market context.
This detached duplex contains two separate apartments arranged over the first and second floors. The first-floor residence has three bedrooms, while the second-floor apartment provides two bedrooms. A fully finished basement adds usable interior space and includes two independent exterior entrances.
Building systems include two boilers and gas heat. Constructed in 1965, the property is currently tenant occupied, and showing appointments require 48 hours’ notice. The property is located at 147-23 225th Street in Springfield Gardens, NY 11413.
Building systems include two boilers and gas heat. Constructed in 1965, the property is currently tenant occupied, and showing appointments require 48 hours’ notice. The property is located at 147-23 225th Street in Springfield Gardens, NY 11413.
Key Highlights
- Detached two‑family property with separate first- and second‑floor apartments
- 3‑bedroom apartment on the 1st Floor
- 2‑bedroom apartment on the 2nd Floor
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.6k | $46.20 |
| − Vacancy | −$3.7k | −$1.76 |
| EGI | $93.9k | $44.44 |
| − OpEx | −$42.2k | −$20.00 |
| NOI | $51.6k | $24.44 |
2,112 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$737.5K
$645.3K – $860.5K
NOI $51,627 @ 7.0% cap · market cap 5.43%
Second Best
Multifamily LT 5
$499.4K
$437.0K – $582.6K
NOI $34,957 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,989 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,358
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 - Separate upper- and lower-level apartments offer a two-bedroom and three-bedroom layout in a detached residential property.
Where is this duplex located?
The property is located at 147-23 225th Street Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $949,990.
What are key features of this property?
This property features: Detached two‑family property with separate first- and second‑floor apartments; 3‑bedroom apartment on the 1st Floor; 2‑bedroom apartment on the 2nd Floor
