Renovated Two-Bedroom Apartment in
For Sale
$279,000
Pending
224-17 Manor Rd #1, Queens, NY 11427
Recently renovated 2-bedroom apartment near shops, transportation, and schools.
Property Size700 SF
Days on Market315
Property Features for 224-17 Manor Rd #1
General Information
Standard status
Pending
Size
700 SF
Property subtype
Residential
Building Details
Building Size
700 SF
Year Built
1950
Listed By:
Anne Akde-Donohue
(347) 564-4223
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 8
Last Checked: Oct 7 at 2:21PM
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 Anne Akde-Donohue
Investment Insights
Based on property information with market context.
This is a 5-room, 2-bedroom unit that has recently undergone renovations. The kitchen features stainless steel appliances. The unit has been freshly painted and includes an updated bathroom with a new vanity and sink. The property is situated in a treelined courtyard and is located close to shops, transportation options, and schools.
Key Highlights
- Brand new renovations throughout the unit
- This two‑bedroom unit features a brand new kitchen with stainless steel appliances
- Updated bathroom with new vanity and sink
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,111
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,220
$342.2K
Cap Rate 7%
$244,443
$244.4K
Cap Rate 9%
$190,122
$190.1K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$32.3K $46.20/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$31.1K $44.44/SF
− OpEx
−$14.0K −$20.00/SF
NOI
$17.1K $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%
$342,220
Cap Rate 7%
$244,443
Cap Rate 9%
$190,122
Alternative Uses
Best Use
Apartment 5plus
$244.4K
$213.9K – $285.2K
NOI $17,111 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$516.0K
$451.5K – $602.1K
NOI $36,123 @ 7.0% cap · market cap 12.95%
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
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 11427, NY
24,555
Population
8,435
Households
2.9
Avg Household Size
44
Median Age
36%
College-Educated
84%
High-School Grad
1.6 sq mi
ZIP Area
15,347
Density / Sq Mi
$92,129
Median Household Income
$48,439
Median Earnings
$1,697
Median Rent
$690,200
Median Home Value
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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?
Apartment building - Recently renovated 2-bedroom apartment near shops, transportation, and schools.
Where is this apartment building located?
The property is located at 224-17 Manor Rd #1 Queens, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Brand new renovations throughout the unit; This two‑bedroom unit features a brand new kitchen with stainless steel appliances; Updated bathroom with new vanity and sink
