Building Details

Year Built 1962

Listing Agency: Prime Realty

Listed By: Shirley Y. Chen Show Phone

Source: Wesellhomes

Added: Sep 11 Changed: Oct 25 Last Checked: Oct 7 at 3:57PM

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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 / Yr

$53,058

Cap Rate

4.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,061,160 $1.1M

Cap Rate 7%

$757,971 $758.0K

Cap Rate 9%

$589,533 $589.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,785 SF

Gross rent

$80.2K $28.80/SF

− Vacancy

−$4.4K −$1.58/SF

EGI

$75.8K $27.22/SF

− OpEx

−$22.7K −$8.16/SF

NOI

$53.1K $19.05/SF

Area

Nassau County, NY

Vacancy

5.50%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,061,160

Cap Rate 7%

$757,971

Cap Rate 9%

$589,533

Alternative Uses

Best Use

Multifamily LT 5

$758.0K

$663.2K – $884.3K (±1% cap)

NOI $53,058 @ 7.0% cap · market cap 4.11%

Second Best

Apartment 5plus

$709.7K

$621.0K – $828.0K (±1% cap)

NOI $49,677 @ 7.0% cap · market cap 3.85%

Theoretical Best

Specialty Retail

$1.84M

$1.61M – $2.15M (±1% cap)

NOI $128,897 @ 7.0% cap · market cap 9.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

901

Businesses Nearby

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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

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