New Bayside Two-Family
For Sale
$1,698,000
Pending
208-02 47th Ave, Queens, NY 11361
New construction two-family home in Bayside, ready for move-in.
Property Size2,700 SF
Lot Size0.06 Acres
Days on Market270
Property Features for 208-02 47th Ave
General Information
Standard status
Pending
Size
2,700 SF
Lot size
0.06 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,481
Building Details
Building Size
2,700 SF
Year Built
2025
Units
2
Listing Agency:
E Realty International Corp
(646) 508-9880
Listed By:
Xiao H. Chen · License #10401299357
(646) 508-9880
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 13
Last Checked: Aug 23 at 8:59AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This newly built two-family home, constructed in 2025, is located on a quiet, tree-lined street in Bayside. The property features 5 bedrooms and 5 bathrooms. The basement has a separate entrance and exit. The first floor includes 2 bedrooms, a living room, and 2 bathrooms. The second floor features 3 bedrooms, a living room, a kitchen, and 2 bathrooms. The home is equipped with two central air conditioning units. Parking includes one garage and four parking spaces. The property is located near supermarkets, banks, and train stations, making it suitable for both investment and self-use.
Key Highlights
- Brand new construction (2025) in Bayside.
- Two‑family home suitable for investment and self‑use.
- Boasting 5 bedrooms and 5 bathrooms.
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
$66,000
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
3.89%
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%
$1,320,000
$1.3M
Cap Rate 7%
$942,857
$942.9K
Cap Rate 9%
$733,333
$733.3K
Market Conditions
NOI Build-Up for 2,700 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
$124.7K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$120.0K $44.44/SF
− OpEx
−$54.0K −$20.00/SF
NOI
$66.0K $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%
$1,320,000
Cap Rate 7%
$942,857
Cap Rate 9%
$733,333
Alternative Uses
Best Use
Apartment 5plus
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 3.89%
Second Best
Multifamily LT 5
$638.4K
$558.6K – $744.8K
NOI $44,689 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,333 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
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 - New construction two-family home in Bayside, ready for move-in.
Where is this duplex located?
The property is located at 208-02 47th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: Brand new construction (2025) in Bayside.; Two‑family home suitable for investment and self‑use.; Boasting 5 bedrooms and 5 bathrooms.
