Two-Family Duplex with
For Sale
$1,450,000
15424 12th Road, Whitestone, NY 11357
Legal two-unit residence with flexible living arrangements, shared driveway access, and a private backyard.
Property Size2,180 SF
Days on Market8
Property Features for 15424 12th Road
General Information
Standard status
Active
Size
2,180 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,159
Amenities
shared driveway
private backyard
full basement
washer and dryer
Building Details
Building Size
2,180 SF
Year Built
1930
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
(917) 913-7012
Listed By:
Nikolaos Katehis · License #10401373252
Source:
Barbieliteam
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 30 at 9:43PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this legal duplex contains two residential units, each arranged with three bedrooms, a living room, dining room, and one full bathroom. The property also includes a full basement with a washer and dryer, creating additional utility and storage space.
A shared driveway serves the home, while the private backyard provides outdoor space. The property is near local shops, restaurants, and parks in Whitestone. It is currently owner-occupied and will be delivered vacant.
A shared driveway serves the home, while the private backyard provides outdoor space. The property is near local shops, restaurants, and parks in Whitestone. It is currently owner-occupied and will be delivered vacant.
Key Highlights
- Two residential units, each with 3 bedrooms, a living room, dining room, and 1 full bathroom
- Full basement equipped with a washer and dryer
- Private backyard and shared driveway
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
$53,289
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
3.68%
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%
$1,065,780
$1.1M
Cap Rate 7%
$761,271
$761.3K
Cap Rate 9%
$592,100
$592.1K
Market Conditions
NOI Build-Up for 2,180 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
$100.7K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$96.9K $44.44/SF
− OpEx
−$43.6K −$20.00/SF
NOI
$53.3K $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%
$1,065,780
Cap Rate 7%
$761,271
Cap Rate 9%
$592,100
Alternative Uses
Best Use
Apartment 5plus
$761.3K
$666.1K – $888.2K
NOI $53,289 @ 7.0% cap · market cap 3.68%
Second Best
Multifamily LT 5
$515.5K
$451.0K – $601.4K
NOI $36,083 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$1.61M
$1.41M – $1.87M
NOI $112,498 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,266
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
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 - Legal two-unit residence with flexible living arrangements, shared driveway access, and a private backyard.
Where is this duplex located?
The property is located at 15424 12th Road Whitestone, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms, a living room, dining room, and 1 full bathroom; Full basement equipped with a washer and dryer; Private backyard and shared driveway
