Two-Unit Detached
New
For Sale
$1,280,000
14734 224th Street, Jamaica, NY 11413
The detached two-family property includes two residential units and is scheduled for vacant delivery.
Property Size2,130 SF
Price / SF$600.94
Days on Market3
Property Features for 14734 224th Street
General Information
Standard status
Active
Size
2,130 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,241
Amenities
First Floor Bedroom
High Ceilings
Open Kitchen
Building Details
Building Size
2,130 SF
Year Built
2019
Buildings
1
Units
2
Listing Agency:
Prospes Real Estate Corp
Listed By:
Huanyan Li · License #10401267841
(718) 321-2800
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 3:04PM
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 Prospes Real Estate Corp
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Investment Insights
Based on property information with market context.
This detached duplex contains 2,130 square feet and was built in 2019. Its two residential units each have three bedrooms and two full bathrooms. A finished basement adds another full bathroom; separate-entry potential is noted for this lower-level space. The property will be delivered vacant.
The home is at 14734 224th Street in Jamaica. Laurelton LIRR Station is nearby, with Q111, Q114, and Q85 bus service also accessible. The Belt Parkway and JFK Airport are in the surrounding area.
The home is at 14734 224th Street in Jamaica. Laurelton LIRR Station is nearby, with Q111, Q114, and Q85 bus service also accessible. The Belt Parkway and JFK Airport are in the surrounding area.
Key Highlights
- Two residential units, each with 3 bedrooms and 2 full bathrooms
- 2,130 square feet; built in 2019
- Finished basement with a full bathroom and potential for a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,067
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,041,340
$1.0M
Cap Rate 7%
$743,814
$743.8K
Cap Rate 9%
$578,522
$578.5K
Market Conditions
NOI Build-Up for 2,130 SF
Gross rent
$98.4K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$94.7K $44.44/SF
− OpEx
−$42.6K −$20.00/SF
NOI
$52.1K $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 Rate 5%
$1,041,340
Cap Rate 7%
$743,814
Cap Rate 9%
$578,522
Alternative Uses
Best Use
Apartment 5plus
$743.8K
$650.8K – $867.8K
NOI $52,067 @ 7.0% cap · market cap 4.07%
Second Best
Multifamily LT 5
$503.6K
$440.7K – $587.6K
NOI $35,255 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,918 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,066
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The detached two-family property includes two residential units and is scheduled for vacant delivery.
Where is this duplex located?
The property is located at 14734 224th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 2 full bathrooms; 2,130 square feet; built in 2019; Finished basement with a full bathroom and potential for a separate entrance
