Brick Two-Family
New
For Sale
$749,999
151 Beach 27th Street, Far Rockaway, NY 11691
Residential, Far Rockaway, NY
Property Size2,700 SF
Lot Size0.05 Acres
Price / SF$277.78
Days on Market2
Property Features for 151 Beach 27th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Subdivision
Far Rockaway
Standard status
Active
Size
2,700 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4403
Building Details
Year built
2006
Floors in Building
3
Number of units
1
Flooring type
Laminate
Building materials
Brick, Wood Frame
Roof type
Asphalt
Listing Agency:
Best Realty Professionals
Listed By:
Katia Belony
(718) 484-3745
Added: Sep 10
Last Checked: Sep 11 at 12:06AM
MLS# 504455
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 contains approximately 2,700 square feet, with a three-bedroom unit positioned above a two-bedroom unit. The 2006 property features brick and wood-frame construction, laminate flooring, an asphalt roof, and a finished basement that adds usable interior space. A private driveway provides on-site parking, while front, rear, and side yard areas extend the property’s outdoor space.
Located at 151 Beach 27th Street in Far Rockaway, Queens, the property is designated R4-1. Its two-unit layout offers separate residential spaces within a single building, with the larger unit configured with three bedrooms and the lower unit with two bedrooms.
Located at 151 Beach 27th Street in Far Rockaway, Queens, the property is designated R4-1. Its two-unit layout offers separate residential spaces within a single building, with the larger unit configured with three bedrooms and the lower unit with two bedrooms.
Key Highlights
- Two‑family duplex with a 3‑bedroom unit over a 2‑bedroom unit
- Approximately 2,700 square feet of building area
- 0.0468‑acre lot with front, rear, and side yard areas
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
$66,000
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
8.80%
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%
$1,320,000
$1.3M
Cap Rate 7%
$942,857
$942.9K
Cap Rate 9%
$733,333
$733.3K
Market Conditions
NOI Build-Up for 2,700 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
$124.7K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$120.0K $44.44/SF
− OpEx
−$54.0K −$20.00/SF
NOI
$66.0K $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%
$1,320,000
Cap Rate 7%
$942,857
Cap Rate 9%
$733,333
Alternative Uses
Best Use
Apartment 5plus
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 8.80%
Second Best
Multifamily LT 5
$638.4K
$558.6K – $744.8K
NOI $44,689 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,333 @ 7.0% cap · market cap 18.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
Median Home Value
Check the figures for this property
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 - Two-unit residential property with private parking, multiple yard areas, and a finished basement.
Where is this duplex located?
The property is located at 151 Beach 27th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Two‑family duplex with a 3‑bedroom unit over a 2‑bedroom unit; Approximately 2,700 square feet of building area; 0.0468‑acre lot with front, rear, and side yard areas
