Building Details

Building Size 2,600 SF

Year Built 1930

Units 2

Listing Agency: Empire Home Sales Inc t***@gmail.com Show Phone

Listed By: Tal Koralashvili Show Phone

Source: Cohenandcohenrealty

Added: Aug 6 Changed: Aug 20 Last Checked: Aug 20 at 6:46AM

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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 Empire Home Sales Inc

Investment Insights

Based on property information with market context.

This detached duplex, built in 1930, has been renovated into two residential units. Each apartment contains 3 bedrooms and 2 bathrooms, for a combined total of 6 bedrooms and 4 bathrooms. A finished basement with its own entrance expands the usable interior, while hardwood flooring and updated kitchens add practical character. Central air conditioning and heat serve the units, with a baseboard system also installed for additional heating flexibility.

The property occupies a 40x117 lot with a private driveway and yard area. Its setting is near schools, shopping, highways, and houses of worship, offering access to several everyday destinations. The address is 18406 144th Avenue, Addisleigh Park, NY 11413.

Key Highlights

• Two‑family detached residence with 2 units
• Each unit includes 3 beds and 2 baths; 6 beds and 4 baths total
• 40x117 lot with private driveway and yard space

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

$63,555

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

4.54%

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%

$1,271,100 $1.3M

Cap Rate 7%

$907,929 $907.9K

Cap Rate 9%

$706,167 $706.2K

Market Conditions

NOI Build-Up for 2,600 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

$120.1K $46.20/SF

− Vacancy

−$4.6K −$1.76/SF

EGI

$115.6K $44.44/SF

− OpEx

−$52.0K −$20.00/SF

NOI

$63.6K $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%

$1,271,100

Cap Rate 7%

$907,929

Cap Rate 9%

$706,167

Alternative Uses

Best Use

Apartment 5plus

$907.9K

$794.4K – $1.06M (±1% cap)

NOI $63,555 @ 7.0% cap · market cap 4.54%

Second Best

Multifamily LT 5

$614.8K

$537.9K – $717.2K (±1% cap)

NOI $43,034 @ 7.0% cap · market cap 3.07%

Theoretical Best

Office A

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,172 @ 7.0% cap · market cap 9.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,170

Businesses Nearby

Explore this area Business Placement

Demographics for 11413, NY

42,978

Population

14,485

Households

3

Avg Household Size

40

Median Age

29%

College-Educated

92%

High-School Grad

3.0 sq mi

ZIP Area

14,326

Density / Sq Mi

$114,766

Median Household Income

$50,525

Median Earnings

$2,038

Median Rent

$631,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Separate residences include finished basement access, dedicated parking, and outdoor space.

Where is this duplex located?

The property is located at 18406 144th Avenue Addisleigh Park, NY.

What is the asking price?

The asking price for this property is $1,399,999.

What are key features of this property?

This property features: Two‑family detached residence with 2 units; Each unit includes 3 beds and 2 baths; 6 beds and 4 baths total; 40x117 lot with private driveway and yard space