Legal Two-Family Home with
For Sale
$899,888
Pending
2 Birch Road, Malverne, NY 11565
Residential Income, Malverne, NY
Property Size1,796 SF
Lot Size0.15 Acres
Days on Market93
Property Features for 2 Birch Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Parking
8
Parking features
Driveway
Window features
ENERGY STAR Qualified WIndows
Patio and Porch features
Porch, Patio, Deck
Interior features
Washer/Dryer Hookup
Fencing
Fenced
Fireplace
1
Basement
Walk-Out Access, Full
Elementary school
Maurice W Downing Primary School
Middle school
Howard T Herber Middle School
High school
Malverne Senior High School
Elementary school district
Malverne
Middle school district
Malverne
High school district
Malverne
Standard status
Pending
APN
2027-37-E-00-0101-0
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8038
Utilities
Sewer type
Public Sewer
Heating system
Energy Star Qualified Equipment (Heating)
Cooling system
ENERGY STAR Qualified Equipment
Water source
Public
Amenities
fireplace
Building Details
Year built
1932
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Stucco
Listing Agency:
Lombardo Homes & Estates
(516) 200-6448
Listed By:
Joseph V. Lombardo CBR · License #10311204851
(516) 200-6448
Added: May 22
Changed: Aug 20
Last Checked: Aug 22 at 6:06AM
MLS# 1003654
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 legal two-family home in Malverne offers a total of 1,796 sq. ft. and features three bedrooms and two full baths across both units. The property includes a full, unfinished basement for storage and a 1.5-car garage, with additional convenience from a washer/dryer hookup. Inside, enjoy a mix of hardwood and tile-ceramic flooring, along with an included fireplace and painted interiors. Construction is stucco, with Energy Star qualified equipment for both heating and cooling.
Outside, the home presents a private backyard with fencing and a driveway for parking, plus outdoor spaces including a patio, deck, and porch. It’s described as a quiet mid-block location on a tree-lined street, with easy access to the LIRR, shops, restaurants, and parks.
The upstairs unit is currently rented, and the second unit can be delivered vacant at closing. The home also notes recently painted exterior and refreshed kitchen updates in both units.
Outside, the home presents a private backyard with fencing and a driveway for parking, plus outdoor spaces including a patio, deck, and porch. It’s described as a quiet mid-block location on a tree-lined street, with easy access to the LIRR, shops, restaurants, and parks.
The upstairs unit is currently rented, and the second unit can be delivered vacant at closing. The home also notes recently painted exterior and refreshed kitchen updates in both units.
Key Highlights
- 1,796 sq. ft. legal two‑family home with three bedrooms and two full baths
- Full, unfinished basement provides storage space
- Year built 1932 with stucco exterior
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
$34,216
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
3.80%
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%
$684,320
$684.3K
Cap Rate 7%
$488,800
$488.8K
Cap Rate 9%
$380,178
$380.2K
Market Conditions
NOI Build-Up for 1,796 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
$51.7K $28.80/SF
− Vacancy
−$2.8K −$1.58/SF
EGI
$48.9K $27.22/SF
− OpEx
−$14.7K −$8.16/SF
NOI
$34.2K $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 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%
$684,320
Cap Rate 7%
$488,800
Cap Rate 9%
$380,178
Alternative Uses
Best Use
Multifamily LT 5
$488.8K
$427.7K – $570.3K
NOI $34,216 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$457.7K
$400.5K – $533.9K
NOI $32,036 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,123 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Explore this area
Business Placement
Demographics for 11565, NY
8,845
Population
3,466
Households
2.6
Avg Household Size
47
Median Age
56%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
8,041
Density / Sq Mi
$145,290
Median Household Income
$72,548
Median Earnings
$1,861
Median Rent
$628,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home with patio, three bedrooms, and two full baths, plus unfinished basement and private backyard.
Where is this duplex located?
The property is located at 2 Birch Road Malverne, NY.
What is the asking price?
The asking price for this property is $899,888.
What are key features of this property?
This property features: 1,796 sq. ft. legal two‑family home with three bedrooms and two full baths; Full, unfinished basement provides storage space; Year built 1932 with stucco exterior
