Duplex Property with Finished
For Sale
$879,000
1537 Madison Street, Elmont, NY 11003
Residential, Duplex, Elmont, NY
Property Size1,270 SF
Lot Size0.10 Acres
Price / SF$692.13
Days on Market11
Property Features for 1537 Madison Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
Res. C
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Parking features
Garage - Detached
Interior features
A/C Unit, Dishwasher, Dryer, Laundry Area, Microwave, Pool, Refrigerator, Stove, Washer
Basement
Full, Finished
Standard status
Active
Size
1,270 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
11532
Amenities
front patio
deck
pool
laundry room
Building Details
Year built
1954
Flooring type
Hardwood
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Century 21 Homefront Realty
(718) 252-6060
Listed By:
Muhammad Noman
(718) 252-6060
Added: Aug 14
Changed: Aug 23
Last Checked: Aug 24 at 2:06AM
MLS# 503810
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 1954 wood-frame duplex property contains 1,270 square feet on a 0.1047-acre lot. The interior includes three bedrooms, three bathrooms, hardwood flooring, an eat-in kitchen, living and dining areas, and a finished basement with laundry, recreation, and bonus space. Appliances include a dishwasher, dryer, microwave, refrigerator, stove, and washer, with an A/C unit also included.
Exterior features include a front patio, rear deck, pool, private driveway, detached garage, and shingle roofing. The property is located at 1537 Madison Street in Elmont, near the Elmont Public Library, houses of worship, and shops, restaurants, and eateries along Hempstead Turnpike. Res. C zoning applies.
Exterior features include a front patio, rear deck, pool, private driveway, detached garage, and shingle roofing. The property is located at 1537 Madison Street in Elmont, near the Elmont Public Library, houses of worship, and shops, restaurants, and eateries along Hempstead Turnpike. Res. C zoning applies.
Key Highlights
- 1,270 SF wood‑frame duplex property built in 1954
- 0.1047‑acre lot with private driveway and detached garage
- Three bedrooms and three bathrooms
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
$31,044
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
3.53%
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%
$620,880
$620.9K
Cap Rate 7%
$443,486
$443.5K
Cap Rate 9%
$344,933
$344.9K
Market Conditions
NOI Build-Up for 1,270 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
$58.7K $46.20/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$56.4K $44.44/SF
− OpEx
−$25.4K −$20.00/SF
NOI
$31.0K $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%
$620,880
Cap Rate 7%
$443,486
Cap Rate 9%
$344,933
Alternative Uses
Best Use
Apartment 5plus
$443.5K
$388.1K – $517.4K
NOI $31,044 @ 7.0% cap · market cap 3.53%
Second Best
Multifamily LT 5
$300.3K
$262.8K – $350.4K
NOI $21,021 @ 7.0% cap · market cap 2.39%
Theoretical Best
Office A
$936.3K
$819.2K – $1.09M
NOI $65,538 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
Explore this area
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
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 - Wood-frame residential property with hardwood floors, a finished basement, private driveway, detached garage, deck, and pool.
Where is this duplex located?
The property is located at 1537 Madison Street Elmont, NY.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 1,270 SF wood‑frame duplex property built in 1954; 0.1047‑acre lot with private driveway and detached garage; Three bedrooms and three bathrooms
