Two-Family Duplex with Solar
For Sale
$1,299,000
1665 156th Street, Whitestone, NY 11357
Separate residences provide a three-bedroom upper home and an updated one-bedroom ground-floor apartment.
Property Size2,440 SF
Days on Market191
Property Features for 1665 156th Street
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,594
Amenities
solar panels
Building Details
Building Size
2,440 SF
Year Built
1960
Listing Agency:
Golden One Realty Group LLC
Listed By:
Alina Yukhtman · License #10301218803
(718) 229-2922
Source:
Barbieliteam
Added: Mar 6
Changed: Sep 12
Last Checked: Sep 13 at 10:47AM
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 Golden One Realty Group LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 1665 156th St includes a three-bedroom, two-bath upper residence and a separate one-bedroom apartment at ground level. The upper home features an open kitchen with island, formal dining area, a primary bedroom suite, extensive storage, and pull-down attic access. A garage entrance connects to the foyer, while a separate front entry serves the main residence.
The ground-floor apartment has an open kitchen with oak cabinets, porcelain backsplash, and stainless steel appliances, along with wood flooring, a new bathroom, substantial closet space, and a large living room. Solar panels are installed on the property. The home was built in 1960 and is located in Whitestone with access to major highways.
The ground-floor apartment has an open kitchen with oak cabinets, porcelain backsplash, and stainless steel appliances, along with wood flooring, a new bathroom, substantial closet space, and a large living room. Solar panels are installed on the property. The home was built in 1960 and is located in Whitestone with access to major highways.
Key Highlights
- Two‑family duplex with three‑bedroom upper residence and one‑bedroom ground‑floor apartment
- Upper unit includes 2 full bathrooms, primary bedroom suite, island kitchen, dining area, and attic storage
- Ground‑floor apartment features updated kitchen, stainless steel appliances, new bathroom, wood floors, and ample closets
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
$59,644
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
4.59%
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%
$1,192,880
$1.2M
Cap Rate 7%
$852,057
$852.1K
Cap Rate 9%
$662,711
$662.7K
Market Conditions
NOI Build-Up for 2,440 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
$112.7K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$108.4K $44.44/SF
− OpEx
−$48.8K −$20.00/SF
NOI
$59.6K $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%
$1,192,880
Cap Rate 7%
$852,057
Cap Rate 9%
$662,711
Alternative Uses
Best Use
Apartment 5plus
$852.1K
$745.6K – $994.1K
NOI $59,644 @ 7.0% cap · market cap 4.59%
Second Best
Multifamily LT 5
$576.9K
$504.8K – $673.1K
NOI $40,386 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,916 @ 7.0% cap · market cap 9.69%
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
1,492
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences provide a three-bedroom upper home and an updated one-bedroom ground-floor apartment.
Where is this duplex located?
The property is located at 1665 156th Street Whitestone, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑family duplex with three‑bedroom upper residence and one‑bedroom ground‑floor apartment; Upper unit includes 2 full bathrooms, primary bedroom suite, island kitchen, dining area, and attic storage; Ground‑floor apartment features updated kitchen, stainless steel appliances, new bathroom, wood floors, and ample closets
