Two-Family
New
For Sale
$825,000
228-50 Mentone Avenue, Springfield Gardens, NY 11413
A compact residential income property in the Laurelton section of Queens.
Property Size1,340 SF
Price / SF$615.67
Days on Market2
Property Features for 228-50 Mentone Avenue
General Information
Standard status
Active
Size
1,340 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,983
Amenities
First Floor Full Bath
Building Details
Building Size
1,340 SF
Year Built
1920
Units
2
Listing Agency:
Classic Service Realty Inc
Listed By:
Jean F. Gaston
(516) 568-2331
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 23 at 5:50PM
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 Classic Service Realty Inc
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Investment Insights
Based on property information with market context.
This two-family residential property contains 1,340 square feet and was built in 1920. It is located in Laurelton, Queens, New York.
Key Highlights
- Two‑family property in Laurelton, Queens
- 1,340 square feet
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,756
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,120
$655.1K
Cap Rate 7%
$467,943
$467.9K
Cap Rate 9%
$363,956
$364.0K
Market Conditions
NOI Build-Up for 1,340 SF
Gross rent
$61.9K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$59.6K $44.44/SF
− OpEx
−$26.8K −$20.00/SF
NOI
$32.8K $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%
$655,120
Cap Rate 7%
$467,943
Cap Rate 9%
$363,956
Alternative Uses
Best Use
Apartment 5plus
$467.9K
$409.5K – $545.9K
NOI $32,756 @ 7.0% cap · market cap 3.97%
Second Best
Multifamily LT 5
$316.8K
$277.2K – $369.7K
NOI $22,179 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$987.9K
$864.4K – $1.15M
NOI $69,150 @ 7.0% cap · market cap 8.38%
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
900
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 - A compact residential income property in the Laurelton section of Queens.
Where is this duplex located?
The property is located at 228-50 Mentone Avenue Springfield Gardens, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two‑family property in Laurelton, Queens; 1,340 square feet; Built in 1920
