New-Build Duplex with Rooftop
New
For Sale
$1,890,000
18-34 120th Street, College Point, NY 11356
Residential Income, College Point, NY
Property Size3,813 SF
Lot Size0.08 Acres
Price / SF$495.67
Days on Market2
Property Features for 18-34 120th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 2, Laundry Room, Bedroom 3, Bathroom 4, Bathroom 5, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 6
Parking features
Driveway
Security features
Security System
Patio and Porch features
Patio
Interior features
Entrance Foyer, Master Downstairs
Fencing
Fenced
Subdivision
Flushing
View
City, Water
Standard status
Active
Size
3,813 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10957
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
private rooftop patio
private yard
in-unit laundry
summer kitchen
Building Details
Year built
2024
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat, Rubber
Architectural style
Other
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Eric W Li · License #10301218578
(917) 974-0992
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 8:06PM
MLS# 11941498
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.
Completed in 2024, this all-brick duplex contains two residences, each arranged with three bedrooms and two full bathrooms. The finished living area totals 2,563 square feet, with hardwood and tile flooring, natural-gas baseboard heat, and contemporary interior finishes. A full finished basement adds a bathroom, laundry area, summer kitchen, private side entrance, and access to the fenced backyard.
Outdoor features include a private rooftop patio with Manhattan skyline views, a rear patio, and a driveway. The property occupies a 3,500-square-foot lot in College Point and has public water service. The address is 18-34 120th Street, College Point, NY 11356.
Outdoor features include a private rooftop patio with Manhattan skyline views, a rear patio, and a driveway. The property occupies a 3,500-square-foot lot in College Point and has public water service. The address is 18-34 120th Street, College Point, NY 11356.
Key Highlights
- 2024 all‑brick duplex construction
- Two units with 3 bedrooms and 2 bathrooms each
- 2,563 SF of finished living area
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
$93,207
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
4.93%
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%
$1,864,140
$1.9M
Cap Rate 7%
$1,331,529
$1.3M
Cap Rate 9%
$1,035,633
$1.0M
Market Conditions
NOI Build-Up for 3,813 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
$176.2K $46.20/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$169.5K $44.44/SF
− OpEx
−$76.3K −$20.00/SF
NOI
$93.2K $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%
$1,864,140
Cap Rate 7%
$1,331,529
Cap Rate 9%
$1,035,633
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,207 @ 7.0% cap · market cap 4.93%
Second Best
Multifamily LT 5
$901.6K
$788.9K – $1.05M
NOI $63,111 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,769 @ 7.0% cap · market cap 10.41%
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
1,756
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - Two three-bedroom residences include a finished lower level, private yard, and separate rooftop outdoor space.
Where is this duplex located?
The property is located at 18-34 120th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 2024 all‑brick duplex construction; Two units with 3 bedrooms and 2 bathrooms each; 2,563 SF of finished living area
