Two-Family Duplex with Finished
New
For Sale
$1,489,000
21908 138th Road, Laurelton, NY 11413
Two residences offer separate four-bedroom and three-bedroom layouts, with a finished basement adding flexible interior space.
Property Size3,246 SF
Lot Size0.22 Acres
Price / SF$458.72
Days on Market4
Property Features for 21908 138th Road
General Information
Standard status
Active
Size
3,246 SF
Lot size
0.22 Acres
Property subtype
Residential Income
Units
Unit Mix
4 bedroom 2 bath upper unit, 3 bedroom 2 bath first floor
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,983
Amenities
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
3,246 SF
Year Built
1940
Buildings
1
Units
2
Listing Agency:
Keystone Realty USA Corp
Listed By:
Gabriel Kashi
(347) 419-5268
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 4:01AM
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 Keystone Realty USA Corp
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Investment Insights
Based on property information with market context.
This two-family duplex contains a four-bedroom, two-bath upper residence and a three-bedroom, two-bath first-floor residence. Both include large living and dining areas, granite kitchens with stainless steel appliances, and bedrooms with closet storage. The primary suite has a private en-suite bath. A finished basement with high ceilings provides additional space and is described as adaptable for a connection with the first-floor residence.
The home sits on a 95-by-102-foot lot, with a 3,246-square-foot building dating to 1940. Located at 219-08 138th Road in Laurelton, the property is a short distance from Springfield Boulevard, Merrick Boulevard, and the Belt Parkway. Shopping, restaurants, schools, and parks are also among the nearby neighborhood amenities.
The home sits on a 95-by-102-foot lot, with a 3,246-square-foot building dating to 1940. Located at 219-08 138th Road in Laurelton, the property is a short distance from Springfield Boulevard, Merrick Boulevard, and the Belt Parkway. Shopping, restaurants, schools, and parks are also among the nearby neighborhood amenities.
Key Highlights
- Two‑family layout: upper unit has 4 bedrooms and 2 baths; first‑floor unit has 3 bedrooms and 2 baths
- 3,246 square feet on a 95 x 102 lot
- Finished, high‑ceiling basement offers potential to connect with the first‑floor residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,347
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,586,940
$1.6M
Cap Rate 7%
$1,133,529
$1.1M
Cap Rate 9%
$881,633
$881.6K
Market Conditions
NOI Build-Up for 3,246 SF
Gross rent
$150.0K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$144.3K $44.44/SF
− OpEx
−$64.9K −$20.00/SF
NOI
$79.3K $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 Rate 5%
$1,586,940
Cap Rate 7%
$1,133,529
Cap Rate 9%
$881,633
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$991.8K – $1.32M
NOI $79,347 @ 7.0% cap · market cap 5.33%
Second Best
Multifamily LT 5
$767.5K
$671.6K – $895.5K
NOI $53,727 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,509 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
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Business Placement
Demographics for 11413, NY
42,978
Population
14,485
Households
3
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
3.0 sq mi
ZIP Area
14,326
Density / Sq Mi
$114,766
Median Household Income
$50,525
Median Earnings
$2,038
Median Rent
$631,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate four-bedroom and three-bedroom layouts, with a finished basement adding flexible interior space.
Where is this duplex located?
The property is located at 21908 138th Road Laurelton, NY.
What is the asking price?
The asking price for this property is $1,489,000.
What are key features of this property?
This property features: Two‑family layout: upper unit has 4 bedrooms and 2 baths; first‑floor unit has 3 bedrooms and 2 baths; 3,246 square feet on a 95 x 102 lot; Finished, high‑ceiling basement offers potential to connect with the first‑floor residence
