Brick Two-Family
For Sale
$1,295,000
16-18 149th St, Whitestone, NY 11357
MULTI_FAMILY - Whitestone, NY
Property Size1,890 SF
Lot Size0.06 Acres
Price / SF$685.19
Days on Market96
Property Features for 16-18 149th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Laundry Room, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4
Parking features
Driveway
Fencing
Fenced
Subdivision
Flushing
Standard status
Active
Size
1,890 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9114
Utilities
Heating system
Steam
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Neona Yeon Lee
(917) 974-0992
Added: May 23
Changed: Aug 12
Last Checked: Aug 26 at 7:06AM
MLS# 11781194
Copyright © 2026 My State MLS. 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.
Brick two-family duplex built in 1920 featuring construction of brick exterior and hardwood flooring. The home is heated with steam and served by public water. A long private driveway provides off-street parking for multiple vehicles and leads to a detached garage at the rear. The property is fenced.
Set in Whitestone, the home is positioned for convenient access to neighborhood shopping, including the Whitestone Shopping Center and the College Point Shopping Center. Commuters can reach major highways with local and express bus options nearby for trips to Manhattan or Long Island.
With a straightforward two-family layout and multiple bedrooms and bathrooms, the property is designed for either an owner-occupant two-family setup or a rental-focused plan.
Set in Whitestone, the home is positioned for convenient access to neighborhood shopping, including the Whitestone Shopping Center and the College Point Shopping Center. Commuters can reach major highways with local and express bus options nearby for trips to Manhattan or Long Island.
With a straightforward two-family layout and multiple bedrooms and bathrooms, the property is designed for either an owner-occupant two-family setup or a rental-focused plan.
Key Highlights
- Brick exterior duplex built in 1920
- Steam heating and hardwood flooring
- Long private driveway with parking for multiple vehicles
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
$46,200
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
3.57%
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%
$924,000
$924.0K
Cap Rate 7%
$660,000
$660.0K
Cap Rate 9%
$513,333
$513.3K
Market Conditions
NOI Build-Up for 1,890 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
$87.3K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$84.0K $44.44/SF
− OpEx
−$37.8K −$20.00/SF
NOI
$46.2K $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%
$924,000
Cap Rate 7%
$660,000
Cap Rate 9%
$513,333
Alternative Uses
Best Use
Apartment 5plus
$660.0K
$577.5K – $770.0K
NOI $46,200 @ 7.0% cap · market cap 3.57%
Second Best
Multifamily LT 5
$446.9K
$391.0K – $521.4K
NOI $31,283 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,533 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,575
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 - Brick two-family duplex built in 1920 with steam heat, hardwood floors, and a long private driveway for parking.
Where is this duplex located?
The property is located at 16-18 149th St Whitestone, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Brick exterior duplex built in 1920; Steam heating and hardwood flooring; Long private driveway with parking for multiple vehicles
