Tudor Residential Income
For Sale
$1,388,000
Pending
21-29 146th Street, Whitestone, NY 11357
The detached residence includes a garage, fenced backyard, and finished walk-out access.
Property Size1,880 SF
Days on Market33
Property Features for 21-29 146th Street
General Information
Standard status
Pending
Size
1,880 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,210
Amenities
Ductless
Natural Gas
Finished, Walk-Out Access
Beamed Ceilings, Crown Molding, Natural Woodwork, Master Downstairs
Living Room
Fenced, Back Yard
Detached, Garage
Tudor
Building Details
Building Size
1,880 SF
Year Built
1940
Listing Agency:
Remax 1st Choice
Listed By:
Po Wei Tair · License #7.51E+13
(917) 406-6026
Source:
Evrealestate
Added: Aug 23
Changed: Sep 24
Last Checked: Sep 24 at 2:20PM
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 Remax 1st Choice
Investment Insights
Based on property information with market context.
Located at 21-29 146th Street in Whitestone, Queens, this Tudor-style residential income property was built in 1940. The detached residence includes a garage and fenced backyard, with finished walk-out access. Interior features include ductless systems, natural gas, beamed ceilings, crown molding, and natural woodwork. A living room and a primary bedroom on the main level are also noted.
Key Highlights
- Built in 1940
- Detached Tudor residence with a garage
- Finished walk‑out access
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
$45,956
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
3.31%
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%
$919,120
$919.1K
Cap Rate 7%
$656,514
$656.5K
Cap Rate 9%
$510,622
$510.6K
Market Conditions
NOI Build-Up for 1,880 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
$86.9K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$83.6K $44.44/SF
− OpEx
−$37.6K −$20.00/SF
NOI
$46.0K $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%
$919,120
Cap Rate 7%
$656,514
Cap Rate 9%
$510,622
Alternative Uses
Best Use
Apartment 5plus
$656.5K
$574.5K – $765.9K
NOI $45,956 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,017 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,396
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The detached residence includes a garage, fenced backyard, and finished walk-out access.
Where is this residential income property located?
The property is located at 21-29 146th Street Whitestone, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Built in 1940; Detached Tudor residence with a garage; Finished walk‑out access
