Two-Unit
For Sale
$800,000
1485 Surprise Street, Elmont, NY 11003
The property contains two residential units on a single tax parcel.
Property Size1,444 SF
Price / SF$554.02
Days on Market12
Property Features for 1485 Surprise Street
General Information
Standard status
Active
Size
1,444 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,807
Building Details
Building Size
1,444 SF
Year Built
1936
Units
2
Listing Agency:
Coldwell Banker American Homes
(631) 673-6800
Listed By:
Vincent J. Sparacello
(516) 351-5162
Source:
Croninreale
Added: Oct 13
Changed: Oct 23
Last Checked: Oct 23 at 5:43PM
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 Coldwell Banker American Homes
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Investment Insights
Based on property information with market context.
This duplex offers two residential units on one tax parcel, with 1,444 square feet of property area. Built in 1936, the property is located at 1485 Surprise Street in Elmont, New York 11003.
Key Highlights
- Two residential units on one tax parcel
- 1,444 square feet of property area
- Built in 1936
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,510
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,200
$550.2K
Cap Rate 7%
$393,000
$393.0K
Cap Rate 9%
$305,667
$305.7K
Market Conditions
NOI Build-Up for 1,444 SF
Gross rent
$41.6K $28.80/SF
− Vacancy
−$2.3K −$1.58/SF
EGI
$39.3K $27.22/SF
− OpEx
−$11.8K −$8.16/SF
NOI
$27.5K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,200
Cap Rate 7%
$393,000
Cap Rate 9%
$305,667
Alternative Uses
Best Use
Multifamily LT 5
$393.0K
$343.9K – $458.5K
NOI $27,510 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$368.0K
$322.0K – $429.3K
NOI $25,757 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$954.7K
$835.4K – $1.11M
NOI $66,832 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
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Business Placement
Demographics for 11003, NY
43,979
Population
12,641
Households
3.5
Avg Household Size
40
Median Age
33%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
10,727
Density / Sq Mi
$123,000
Median Household Income
$53,302
Median Earnings
$2,315
Median Rent
$576,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The property contains two residential units on a single tax parcel.
Where is this duplex located?
The property is located at 1485 Surprise Street Elmont, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two residential units on one tax parcel; 1,444 square feet of property area; Built in 1936
