Renovated Two-Family
For Sale
$1,349,900
2039 150th Street, Whitestone, NY 11357
MULTI_FAMILY - Whitestone, NY
Property Size1,970 SF
Lot Size0.06 Acres
Price / SF$685.23
Days on Market47
Property Features for 2039 150th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 5, Bedroom 1, Bathroom 5, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 4
Interior features
Refrigerator, Stove
Subdivision
Flushing
Standard status
Active
Size
1,970 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8596
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Added: Jul 6
Changed: Aug 16
Last Checked: Aug 21 at 9:06AM
MLS# 502824
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
Renovated, fully detached two-family duplex with brick construction and a flat roof. Built in 1960, the home features two spacious apartments and was renovated approximately 3–4 years ago. The first-floor unit offers three bedrooms and 2.5 baths, and the second-floor unit offers three bedrooms and two full baths. Each apartment includes a bright living room, formal dining area, modern kitchen, and updated bathrooms.
The property is delivered vacant and move-in ready. There are separate heating and hot water systems for each unit. Parking is available via a private driveway with parking for 2+ cars.
Set on an approximately 0.0567-acre lot, the property is 1,970 square feet. It is located in Whitestone near schools, parks, shopping, restaurants, and public transportation.
The property is delivered vacant and move-in ready. There are separate heating and hot water systems for each unit. Parking is available via a private driveway with parking for 2+ cars.
Set on an approximately 0.0567-acre lot, the property is 1,970 square feet. It is located in Whitestone near schools, parks, shopping, restaurants, and public transportation.
Key Highlights
- Renovated approximately 3–4 years ago, delivered vacant and move‑in ready
- Two 3‑bedroom apartments with updated bathrooms (3 beds/2.5 baths and 3 beds/2 full baths)
- Separate heating and hot water systems for each unit
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
$48,156
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
3.57%
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%
$963,120
$963.1K
Cap Rate 7%
$687,943
$687.9K
Cap Rate 9%
$535,067
$535.1K
Market Conditions
NOI Build-Up for 1,970 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
$91.0K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$87.6K $44.44/SF
− OpEx
−$39.4K −$20.00/SF
NOI
$48.2K $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%
$963,120
Cap Rate 7%
$687,943
Cap Rate 9%
$535,067
Alternative Uses
Best Use
Apartment 5plus
$687.9K
$602.0K – $802.6K
NOI $48,156 @ 7.0% cap · market cap 3.57%
Second Best
Multifamily LT 5
$465.8K
$407.6K – $543.5K
NOI $32,607 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,661 @ 7.0% cap · market cap 7.53%
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
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
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 - Renovated, fully detached two-family duplex zoned R3-1 with separate heating and hot-water systems for each unit.
Where is this duplex located?
The property is located at 2039 150th Street Whitestone, NY.
What is the asking price?
The asking price for this property is $1,349,900.
What are key features of this property?
This property features: Renovated approximately 3–4 years ago, delivered vacant and move‑in ready; Two 3‑bedroom apartments with updated bathrooms (3 beds/2.5 baths and 3 beds/2 full baths); Separate heating and hot water systems for each unit
