Building Details

Year Built 1962

Listing Agency: Prime Realty

Listed By: Shirley Y. Chen Show Phone

Source: Wesellhomes

Added: Sep 11 Last Checked: Sep 11 at 2:10PM

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Investment Insights

Based on property information with market context.

This legal duplex at 193 Frederick Ave is arranged as two residential units, with 7 bedrooms and 4 full bathrooms across approximately 2,785 sq. ft. of interior space. The first floor contains 3 bedrooms and 2 full bathrooms, while the second floor provides 4 bedrooms and 2 full bathrooms. Renovations include new kitchens with large center islands, new appliances, refreshed bathrooms, and new flooring. The property was built in 1962 and includes an in-ground swimming pool and 2-car garage on an approximately 7,308 sq. ft. lot.

The home is in South Floral Park and falls within Elmont UFSD #16. Shopping, transportation, schools, and major roadways are located nearby.

Key Highlights

• Legal two‑family duplex with 7 bedrooms and 4 full bathrooms
• Approximately 2,785 sq. ft. of interior living space
• First floor offers 3 bedrooms and 2 full bathrooms; second floor has 4 bedrooms and 2 full bathrooms

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

$68,078

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

5.28%

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%

$1,361,560 $1.4M

Cap Rate 7%

$972,543 $972.5K

Cap Rate 9%

$756,422 $756.4K

Market Conditions

NOI Build-Up for 2,785 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

$128.7K $46.20/SF

− Vacancy

−$4.9K −$1.76/SF

EGI

$123.8K $44.44/SF

− OpEx

−$55.7K −$20.00/SF

NOI

$68.1K $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%

$1,361,560

Cap Rate 7%

$972,543

Cap Rate 9%

$756,422

Alternative Uses

Best Use

Apartment 5plus

$972.5K

$851.0K – $1.13M (±1% cap)

NOI $68,078 @ 7.0% cap · market cap 5.28%

Second Best

Multifamily LT 5

$658.5K

$576.2K – $768.3K (±1% cap)

NOI $46,096 @ 7.0% cap · market cap 3.57%

Theoretical Best

Office A

$2.05M

$1.80M – $2.40M (±1% cap)

NOI $143,719 @ 7.0% cap · market cap 11.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Dental Office Skin Care Clinic Acupuncture

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

901

Businesses Nearby

Explore this area Business Placement

Demographics for 11001, NY

27,662

Population

8,923

Households

3.1

Avg Household Size

43

Median Age

53%

College-Educated

91%

High-School Grad

2.2 sq mi

ZIP Area

12,574

Density / Sq Mi

$144,755

Median Household Income

$66,053

Median Earnings

$2,196

Median Rent

$714,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Legal two-family duplex with updated interiors, separate floor layouts, an in-ground pool, and a two-car garage.

Where is this duplex located?

The property is located at 193 Frederick Ave South Floral Park, NY.

What is the asking price?

The asking price for this property is $1,290,000.

What are key features of this property?

This property features: Legal two‑family duplex with 7 bedrooms and 4 full bathrooms; Approximately 2,785 sq. ft. of interior living space; First floor offers 3 bedrooms and 2 full bathrooms; second floor has 4 bedrooms and 2 full bathrooms