Duplex with Finished
For Sale
$1,049,999
1986 Oakwood Avenue, Merrick, NY 11566
Residential Income, Merrick, NY
Property Size2,276 SF
Lot Size0.15 Acres
Price / SF$461.34
Days on Market8
Property Features for 1986 Oakwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bedroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3
Parking features
Driveway, Off Street
Interior features
First Floor Bedroom, First Floor Full Bath
Basement
Finished, Full, Walk-Out Access
Elementary school
Chatterton School
Middle school
Merrick Avenue Middle School
High school
Sanford H Calhoun High School
Elementary school district
Merrick
Middle school district
Merrick
High school district
Bellmore-Merrick
Standard status
Active
APN
2089-55-128-00-0334-0
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
23961
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Private
Amenities
finished basement
Building Details
Year built
1983
Number of units
2
Building materials
Frame
Listing Agency:
Keller Williams Realty Elite
(516) 795-6900
Listed By:
Stephen Zappalla
(516) 319-4820
Added: Oct 8
Changed: Oct 12
Last Checked: Oct 15 at 6:06AM
MLS# 1060673
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1983 duplex contains 2,276 square feet of living area, excluding the basement, with two apartments, each arranged with three bedrooms and one bathroom. The first-floor unit has been renovated in recent years. A finished basement has its own exterior entrance. The property also includes a detached two-car garage and additional off-street parking.
Building systems include natural gas, separate gas heating for the first and second floors, and electric heat in the basement. Three electric meters, two gas meters, and one water meter serve the property. Windows were replaced in 2019, and the two hot water heaters are approximately five years and one year old. The home is legally recognized as a two-family property and is occupied by tenants.
The parcel measures 0.1506 acres in Merrick. The LIRR station and Merrick Avenue corridor are within walking distance, with schools, dining, shopping, and major parkways also noted nearby.
Building systems include natural gas, separate gas heating for the first and second floors, and electric heat in the basement. Three electric meters, two gas meters, and one water meter serve the property. Windows were replaced in 2019, and the two hot water heaters are approximately five years and one year old. The home is legally recognized as a two-family property and is occupied by tenants.
The parcel measures 0.1506 acres in Merrick. The LIRR station and Merrick Avenue corridor are within walking distance, with schools, dining, shopping, and major parkways also noted nearby.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 bathroom
- 2,276 square feet of living area, excluding the basement
- Finished basement with a separate outside entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,361
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$867,220
$867.2K
Cap Rate 7%
$619,443
$619.4K
Cap Rate 9%
$481,789
$481.8K
Market Conditions
NOI Build-Up for 2,276 SF
Gross rent
$65.5K $28.80/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$61.9K $27.22/SF
− OpEx
−$18.6K −$8.16/SF
NOI
$43.4K $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%
$867,220
Cap Rate 7%
$619,443
Cap Rate 9%
$481,789
Alternative Uses
Best Use
Multifamily LT 5
$619.4K
$542.0K – $722.7K
NOI $43,361 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$580.0K
$507.5K – $676.6K
NOI $40,598 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$1.50M
$1.32M – $1.76M
NOI $105,339 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,259
Businesses Nearby
Explore this area
Business Placement
Demographics for 11566, NY
35,147
Population
11,723
Households
3
Avg Household Size
43
Median Age
58%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
6,509
Density / Sq Mi
$169,868
Median Household Income
$79,500
Median Earnings
$2,803
Median Rent
$679,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate gas heating systems and a detached garage support the property's two-unit configuration.
Where is this duplex located?
The property is located at 1986 Oakwood Avenue Merrick, NY.
What is the asking price?
The asking price for this property is $1,049,999.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 bathroom; 2,276 square feet of living area, excluding the basement; Finished basement with a separate outside entrance
