Brick Two-Family
New
For Sale
$998,000
147-48 24th Avenue, Whitestone, NY 11357
Semi-detached layout includes a finished lower level, private entry, backyard, and detached garage.
Property Size1,402 SF
Days on Market4
Property Features for 147-48 24th Avenue
General Information
Standard status
Active
Size
1,402 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,767
Building Details
Building Size
1,402 SF
Year Built
1940
Construction
brick
Listing Agency:
B Square Realty
Listed By:
Jun Qiu
(718) 886-6800
Source:
Barbieliteam
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 2:49PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This semi-detached brick duplex contains two residential floors, with each level providing a living room, kitchen, large bedroom, and full bathroom. The building measures 20*34, and each floor contains 680 Sqft. A finished basement adds usable space and has a separate entrance. The property also includes a backyard and a detached garage that accommodates 3-4 Cars. Built in 1940, the residence is occupied by tenants and combines a two-family configuration with established improvements.
The property is located at 147-48 24th Avenue in Whitestone, NY 11357. Supermarkets, banks, restaurants, and a park are nearby, with access for commuting to the city.
The property is located at 147-48 24th Avenue in Whitestone, NY 11357. Supermarkets, banks, restaurants, and a park are nearby, with access for commuting to the city.
Key Highlights
- Two‑family semi‑detached brick property at 147‑48 24th Avenue, Whitestone, NY 11357
- Building size: 20*34
- Each floor has 680 Sqft with a living room, kitchen, large bedroom, and full bath
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
$34,271
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
3.43%
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%
$685,420
$685.4K
Cap Rate 7%
$489,586
$489.6K
Cap Rate 9%
$380,789
$380.8K
Market Conditions
NOI Build-Up for 1,402 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
$64.8K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$62.3K $44.44/SF
− OpEx
−$28.0K −$20.00/SF
NOI
$34.3K $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%
$685,420
Cap Rate 7%
$489,586
Cap Rate 9%
$380,789
Alternative Uses
Best Use
Apartment 5plus
$489.6K
$428.4K – $571.2K
NOI $34,271 @ 7.0% cap · market cap 3.43%
Second Best
Multifamily LT 5
$331.5K
$290.1K – $386.8K
NOI $23,205 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.03M
$904.4K – $1.21M
NOI $72,350 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
Median Home Value
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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 - Semi-detached layout includes a finished lower level, private entry, backyard, and detached garage.
Where is this duplex located?
The property is located at 147-48 24th Avenue Whitestone, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Two‑family semi‑detached brick property at 147‑48 24th Avenue, Whitestone, NY 11357; Building size: 20*34; Each floor has 680 Sqft with a living room, kitchen, large bedroom, and full bath
