All-Brick Two-Family
For Sale
$1,880,000
164-04 29th Avenue, Flushing, NY 11358
Residential Income, Flushing, NY
Property Size3,450 SF
Lot Size0.09 Acres
Price / SF$544.93
Days on Market48
Property Features for 164-04 29th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 6, Bathroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 3
Parking features
Driveway
Patio and Porch features
Patio
Interior features
Entrance Foyer
Subdivision
Flushing
Standard status
Active
Size
3,450 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
15826
Utilities
Heating system
Natural Gas, Steam
Amenities
coin-operated washer and dryer
Building Details
Year built
1970
Floors in Building
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
LANDMARK INTERNATIONAL REAL ESTATE GROUP LLC
(917) 530-5075
Listed By:
Lucy Lu
(718) 898-8300
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 5 at 2:06AM
MLS# 11894777
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 detached brick duplex contains two family residences across three stories, with 7 bedrooms and 4 full bathrooms within approximately 3,450 square feet. Interior features include hardwood flooring, an open kitchen, an entrance foyer, and separate living and dining areas. The property was built in 1970 and is equipped with natural-gas steam heat, a new hot water heater, and a coin-operated washer and dryer. A patio adds outdoor space.
The home is located at 164-04 29th Avenue in Flushing, Queens, near shopping, restaurants, schools, parks, public transportation, and major roadways. Its Flushing, NY 11358 location provides access to destinations throughout Queens and beyond.
The home is located at 164-04 29th Avenue in Flushing, Queens, near shopping, restaurants, schools, parks, public transportation, and major roadways. Its Flushing, NY 11358 location provides access to destinations throughout Queens and beyond.
Key Highlights
- Two‑family detached duplex with 7 bedrooms and 4 full bathrooms
- Approximately 3,450 square feet across a three‑story layout
- All‑brick construction; built in 1970
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
$84,333
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
4.49%
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%
$1,686,660
$1.7M
Cap Rate 7%
$1,204,757
$1.2M
Cap Rate 9%
$937,033
$937.0K
Market Conditions
NOI Build-Up for 3,450 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
$159.4K $46.20/SF
− Vacancy
−$6.1K −$1.76/SF
EGI
$153.3K $44.44/SF
− OpEx
−$69.0K −$20.00/SF
NOI
$84.3K $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%
$1,686,660
Cap Rate 7%
$1,204,757
Cap Rate 9%
$937,033
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.41M
NOI $84,333 @ 7.0% cap · market cap 4.49%
Second Best
Multifamily LT 5
$815.8K
$713.8K – $951.7K
NOI $57,103 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$2.54M
$2.23M – $2.97M
NOI $178,037 @ 7.0% cap · market cap 9.47%
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
1,802
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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 - Three-story layout includes hardwood floors, open kitchen, patio, and natural-gas steam heat.
Where is this duplex located?
The property is located at 164-04 29th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: Two‑family detached duplex with 7 bedrooms and 4 full bathrooms; Approximately 3,450 square feet across a three‑story layout; All‑brick construction; built in 1970
