Spacious Two-Family
For Sale
$1,100,000
15539 115th Dr, Queens, NY 11434
Two-family house near schools, transportation, and JFK Airport.
Property Size2,000 SF
Lot Size0.07 Acres
Days on Market323
Property Features for 15539 115th Dr
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.07 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,196
Building Details
Building Size
2,000 SF
Year Built
1989
Units
2
Listing Agency:
Century 21 Professional Realty
Listed By:
Neal J. Khoorchand · License #10311207397
(718) 659-0202
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 2
Last Checked: Oct 14 at 11:13PM
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 Century 21 Professional Realty
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Investment Insights
Based on property information with market context.
This two-family house features a first floor with three bedrooms, a full bath, an eat-in kitchen, and a living room/dining room. The second floor includes two bedrooms, a full bath, a living room/dining room, and a kitchen. The property also has a full finished basement. It is conveniently located near schools, transportation, places of worship, and JFK International Airport, presenting an excellent investment opportunity.
Key Highlights
- Spacious 2‑family house: Ideal for multi‑generational living or rental income.
- Two separate units: 1st floor with 3 bedrooms, 2nd floor with 2 bedrooms.
- Full finished basement: Adds significant living or storage space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,889
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,780
$977.8K
Cap Rate 7%
$698,414
$698.4K
Cap Rate 9%
$543,211
$543.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$92.4K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.9K $44.44/SF
− OpEx
−$40.0K −$20.00/SF
NOI
$48.9K $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%
$977,780
Cap Rate 7%
$698,414
Cap Rate 9%
$543,211
Alternative Uses
Best Use
Apartment 5plus
$698.4K
$611.1K – $814.8K
NOI $48,889 @ 7.0% cap · market cap 4.44%
Second Best
Multifamily LT 5
$472.9K
$413.8K – $551.7K
NOI $33,103 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 11434, NY
66,964
Population
23,787
Households
2.8
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
3.2 sq mi
ZIP Area
20,926
Density / Sq Mi
$76,668
Median Household Income
$46,742
Median Earnings
$1,409
Median Rent
$585,600
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-family house near schools, transportation, and JFK Airport.
Where is this duplex located?
The property is located at 15539 115th Dr Queens, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Spacious 2‑family house: Ideal for multi‑generational living or rental income.; Two separate units: 1st floor with 3 bedrooms, 2nd floor with 2 bedrooms.; Full finished basement: Adds significant living or storage space.
