Residential Income Property with
New
For Sale
$1,250,000
1851 Chowan Street, Elmont, NY 11003
A fenced property features a detached garage, driveway, and off-street parking.
Property Size2,744 SF
Days on Market5
Property Features for 1851 Chowan Street
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$18,489
Amenities
Wall/Window Unit(s)
Hot Water, Natural Gas
Walk-Out Access
Fenced, Vinyl
Detached, Driveway, Garage, Off Street
Building Details
Building Size
2,744 SF
Year Built
1985
Listing Agency:
NYC - Queens/Bayside
Listed By:
Durwin Fernandez · License #10401244764
(718) 755-3510
Source:
Evrealestate
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 3:51PM
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 NYC - Queens/Bayside
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Investment Insights
Based on property information with market context.
Built in 1985, this residential income property includes a detached garage, driveway, and off-street parking. The exterior is fenced with vinyl fencing.
Interior features include wall/window units, hot water, natural gas, and walk-out access.
Interior features include wall/window units, hot water, natural gas, and walk-out access.
Key Highlights
- Detached garage with driveway and off‑street parking
- Vinyl fencing
- Wall/window units; hot water and natural gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,946
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$978,920
$978.9K
Cap Rate 7%
$699,229
$699.2K
Cap Rate 9%
$543,844
$543.8K
Market Conditions
NOI Build-Up for 2,744 SF
Gross rent
$93.2K $33.96/SF
− Vacancy
−$4.2K −$1.53/SF
EGI
$89.0K $32.43/SF
− OpEx
−$40.0K −$14.59/SF
NOI
$48.9K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$978,920
Cap Rate 7%
$699,229
Cap Rate 9%
$543,844
Alternative Uses
Best Use
Apartment 5plus
$699.2K
$611.8K – $815.8K
NOI $48,946 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.81M
$1.59M – $2.12M
NOI $126,999 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
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Business Placement
Demographics for 11003, NY
43,979
Population
12,641
Households
3.5
Avg Household Size
40
Median Age
33%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
10,727
Density / Sq Mi
$123,000
Median Household Income
$53,302
Median Earnings
$2,315
Median Rent
$576,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A fenced property features a detached garage, driveway, and off-street parking.
Where is this residential income property located?
The property is located at 1851 Chowan Street Elmont, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Detached garage with driveway and off‑street parking; Vinyl fencing; Wall/window units; hot water and natural gas
