Two-Family Brick Home with
For Sale
Contact for pricing
22-48 43rd Street, Astoria, NY 11105
Brick two-family home with finished basement, private backyard access from the first floor, and parking for two vehicles.
Property Size1,577 SF
Lot Size0.05 Acres
Price / SF$835.76
Days on Market91
Property Features for 22-48 43rd Street
General Information
Standard status
Active
Size
1,577 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Multifamily
Zoning
R5
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Year Renovated
2024
Buildings
1
Stories
2
Units
2
Construction
brick
Tenancy
Multi
Listing Agency:
Carmela Homes Corp.
Listed By:
Carmela Vlacich · License #NY 4OVL0647854
(718) 274-2400
Source:
Crexi
Added: Jun 15
Changed: Sep 11
Last Checked: Sep 12 at 5:51AM
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 Carmela Homes Corp.
Investment Insights
Based on property information with market context.
This brick two-family home offers flexible living and rental configuration. The first floor includes a kitchen, living room, two bedrooms, a full bathroom, and direct access to a private backyard, along with an additional small room that can serve as an office, reading nook, or sunroom. The second floor features a kitchen, living room, one bedroom, a full bathroom, and generous storage. A fully finished basement adds further usable space for a recreation room, home office, and/or additional storage.
The property is located in the Ditmars area of Astoria, just steps from Ditmars Boulevard’s cafés, restaurants, and markets. It is within walking distance to the N/W subway and Astoria Park.
Recent improvements include a new roof, windows, hot water heater, and radiators installed in 2024. Outdoors, the home has a large backyard, with room for parking two vehicles.
The property is located in the Ditmars area of Astoria, just steps from Ditmars Boulevard’s cafés, restaurants, and markets. It is within walking distance to the N/W subway and Astoria Park.
Recent improvements include a new roof, windows, hot water heater, and radiators installed in 2024. Outdoors, the home has a large backyard, with room for parking two vehicles.
Key Highlights
- Brick 2‑family home in the Ditmars area of Astoria (Lot size 20 x 100).
- 1st floor layout: kitchen, living room, 2 bedrooms, 1 full bath, plus access to a private backyard.
- 2nd floor apartment: kitchen, living room, 1 bedroom, 1 full bath, and generous storage space.
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
$38,549
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
2.92%
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%
$770,980
$771.0K
Cap Rate 7%
$550,700
$550.7K
Cap Rate 9%
$428,322
$428.3K
Market Conditions
NOI Build-Up for 1,577 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
$72.9K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$70.1K $44.44/SF
− OpEx
−$31.5K −$20.00/SF
NOI
$38.5K $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%
$770,980
Cap Rate 7%
$550,700
Cap Rate 9%
$428,322
Alternative Uses
Best Use
Apartment 5plus
$550.7K
$481.9K – $642.5K
NOI $38,549 @ 7.0% cap · market cap 2.92%
Second Best
Multifamily LT 5
$372.9K
$326.3K – $435.0K
NOI $26,102 @ 7.0% cap · market cap 1.98%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,381 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick two-family home with finished basement, private backyard access from the first floor, and parking for two vehicles.
Where is this duplex located?
The property is located at 22-48 43rd Street Astoria, NY.
What is the asking price?
The asking price for this property is $1,318,000.
What are key features of this property?
This property features: Brick 2‑family home in the Ditmars area of Astoria (Lot size 20 x 100).; 1st floor layout: kitchen, living room, 2 bedrooms, 1 full bath, plus access to a private backyard.; 2nd floor apartment: kitchen, living room, 1 bedroom, 1 full bath, and generous storage space.
