Two-Home Duplex
For Sale
$899,000
1841 124th Street, College Point, NY 11356
Two detached residences share one lot, with separate gas and electric meters and distinct heating systems.
Property Size2,100 SF
Days on Market44
Property Features for 1841 124th Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,636
Building Details
Building Size
2,100 SF
Year Built
1920
Units
2
Listing Agency:
Century Homes Realty Group LLC
(917) 968-7122
Listed By:
Wayne R. Rose GRI CBR MRP E-PRO PS
(917) 968-7122
Source:
Alexandermadisonhomes
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 31 at 5:12PM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This duplex property consists of two detached homes on a single lot, built in 1920. The front residence contains 3 bedrooms, 1 full bath, a living room, and an eat-in kitchen. The rear residence provides 4 bedrooms, 1 full bath, a living room, and an eat-in kitchen. Separate gas and electric meters serve the homes, while heating is provided by oil in the front house and gas in the rear house. Both residences require renovation, offering a property configuration suitable for buyers planning restoration or customized living arrangements.
The property is located at 1841 124th Street in College Point, NY 11356, near neighborhood shops, restaurants, parks, and public transportation. Q25 and Q65 bus service provides connections to surrounding areas.
The property is located at 1841 124th Street in College Point, NY 11356, near neighborhood shops, restaurants, parks, and public transportation. Q25 and Q65 bus service provides connections to surrounding areas.
Key Highlights
- Two detached homes situated on one lot
- Front home includes 3 bedrooms, 1 full bath, living room, and eat‑in kitchen
- Rear home includes 4 bedrooms, 1 full bath, living room, and eat‑in kitchen
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
$51,333
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
5.71%
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%
$1,026,660
$1.0M
Cap Rate 7%
$733,329
$733.3K
Cap Rate 9%
$570,367
$570.4K
Market Conditions
NOI Build-Up for 2,100 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
$97.0K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$93.3K $44.44/SF
− OpEx
−$42.0K −$20.00/SF
NOI
$51.3K $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%
$1,026,660
Cap Rate 7%
$733,329
Cap Rate 9%
$570,367
Alternative Uses
Best Use
Apartment 5plus
$733.3K
$641.7K – $855.6K
NOI $51,333 @ 7.0% cap · market cap 5.71%
Second Best
Multifamily LT 5
$496.5K
$434.5K – $579.3K
NOI $34,758 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,370 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,773
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two detached residences share one lot, with separate gas and electric meters and distinct heating systems.
Where is this duplex located?
The property is located at 1841 124th Street College Point, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two detached homes situated on one lot; Front home includes 3 bedrooms, 1 full bath, living room, and eat‑in kitchen; Rear home includes 4 bedrooms, 1 full bath, living room, and eat‑in kitchen
