Two-Unit Duplex with Detached
For Sale
$1,200,000
19804 Hillside Avenue, Hollis, NY 11423
Legal two-family property with a three-bedroom lower unit, one-bedroom upper unit, and detached garage/workshop.
Property Size1,536 SF
Lot Size0.13 Acres
Days on Market81
Property Features for 19804 Hillside Avenue
General Information
Standard status
Active
Size
1,536 SF
Lot size
0.13 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,295
Amenities
detached garage/workshop
Building Details
Building Size
1,536 SF
Year Built
1919
Stories
2
Units
2
Listing Agency:
Douglas Elliman Real Estate
(718) 631-8900
Listed By:
John A. Balis · License #30BA0694441
Source:
Alexandermadisonhomes
Added: Jun 11
Changed: Aug 29
Last Checked: Aug 29 at 3:23PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This legal two-family residence provides a three-bedroom first-floor apartment and a one-bedroom unit above. The lower apartment includes an updated kitchen and bathroom, while the upper unit has a private deck facing the rear yard. The property also includes two full bathrooms, an unfinished basement, and a detached garage/workshop.
Set on a 37.42' x 151' lot, the property offers substantial outdoor space along with ample parking. Built in 1919 and offered in as-is condition, it is located at 19804 Hillside Avenue in Hollis, NY 11423.
Set on a 37.42' x 151' lot, the property offers substantial outdoor space along with ample parking. Built in 1919 and offered in as-is condition, it is located at 19804 Hillside Avenue in Hollis, NY 11423.
Key Highlights
- Legal two‑family property with a 3‑bedroom first‑floor apartment and 1‑bedroom second‑floor apartment
- 37.42' x 151' lot
- First‑floor unit includes a renovated kitchen and bathroom
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
$37,547
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
3.13%
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%
$750,940
$750.9K
Cap Rate 7%
$536,386
$536.4K
Cap Rate 9%
$417,189
$417.2K
Market Conditions
NOI Build-Up for 1,536 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
$71.0K $46.20/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$68.3K $44.44/SF
− OpEx
−$30.7K −$20.00/SF
NOI
$37.5K $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%
$750,940
Cap Rate 7%
$536,386
Cap Rate 9%
$417,189
Alternative Uses
Best Use
Apartment 5plus
$536.4K
$469.3K – $625.8K
NOI $37,547 @ 7.0% cap · market cap 3.13%
Second Best
Multifamily LT 5
$363.2K
$317.8K – $423.7K
NOI $25,423 @ 7.0% cap · market cap 2.12%
Theoretical Best
Office A
$1.13M
$990.8K – $1.32M
NOI $79,265 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,609
Businesses Nearby
Explore this area
Business Placement
Demographics for 11423, NY
31,985
Population
10,307
Households
3.1
Avg Household Size
41
Median Age
34%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
22,846
Density / Sq Mi
$80,870
Median Household Income
$44,639
Median Earnings
$1,706
Median Rent
$717,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property with a three-bedroom lower unit, one-bedroom upper unit, and detached garage/workshop.
Where is this duplex located?
The property is located at 19804 Hillside Avenue Hollis, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Legal two‑family property with a 3‑bedroom first‑floor apartment and 1‑bedroom second‑floor apartment; 37.42' x 151' lot; First‑floor unit includes a renovated kitchen and bathroom
