Brick Two-Family
For Sale
$1,295,000
Pending
16-18 149th St, Whitestone, NY 11357
Residential Income, Whitestone, NY
Property Size1,890 SF
Lot Size0.06 Acres
Days on Market119
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
Laundry Room, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Parking features
Driveway
Fencing
Fenced
Subdivision
Flushing
Standard status
Pending
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:
Jae In Hahn
(917) 974-0992
Added: May 23
Changed: Sep 17
Last Checked: Sep 18 at 5:06AM
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.
This 1,890-square-foot duplex is a two-family brick residence built in 1920. The property includes hardwood flooring, steam heating, public water service, a fenced lot, and a private driveway leading to a detached garage. An eastern exposure provides morning light, while the two-family layout supports separate household living or residential income use.
The property is located at 16-18 149th St in Whitestone, Queens County, with access to the Whitestone Shopping Center and College Point Shopping Center. Major highways are nearby, and local and express bus service provide additional transportation options. The parcel measures 0.0597 acres and includes a landscaped front yard with a brick-lined garden bed.
The property is located at 16-18 149th St in Whitestone, Queens County, with access to the Whitestone Shopping Center and College Point Shopping Center. Major highways are nearby, and local and express bus service provide additional transportation options. The parcel measures 0.0597 acres and includes a landscaped front yard with a brick-lined garden bed.
Key Highlights
- 1,890‑square‑foot two‑family brick residence
- Built in 1920
- 0.0597‑acre fenced parcel
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-family brick residence with private driveway, detached garage, fenced grounds, and access to nearby shopping and transportation.
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: 1,890‑square‑foot two‑family brick residence; Built in 1920; 0.0597‑acre fenced parcel
