Two-Family Home with
New
For Sale
$1,225,000
Pending
229-24 Edgewood Avenue, Laurelton, NY 11413
Two three-bedroom units are complemented by a finished basement with a separate entrance and a private driveway.
Property Size2,188 SF
Days on Market4
Property Features for 229-24 Edgewood Avenue
General Information
Standard status
Pending
Size
2,188 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,574
Amenities
private balconies
fenced backyard
finished basement with recreation rooms
Finished,Full,See Remarks
3
Yes
6
Kitchen Island,Open Kitchen
Finished, Full, See Remarks
Public
5
No
Driveway, Garage
2188
Building Details
Building Size
2,188 SF
Year Built
1945
Buildings
1
Listing Agency:
(516) 703-2918
Listed By:
Barbara Murray
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:49PM
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 Barbara Murray
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Investment Insights
Based on property information with market context.
This detached legal two-family home, built in 1945, contains two three-bedroom, one-bathroom residences. Each unit has a living room, formal dining area, and eat-in kitchen with stainless steel appliances. A finished basement provides recreation rooms, a full bathroom, and a separate entrance. The property also includes two private balconies, a fenced backyard, a private driveway, and a four-car garage. Exterior updates include stucco finishes and a redesigned entrance.
The property is offered vacant and is located near shops, schools, and public transportation.
The property is offered vacant and is located near shops, schools, and public transportation.
Key Highlights
- Detached legal two‑family property with two three‑bedroom units
- Each residence includes one full bathroom, a living room, formal dining area, and eat‑in kitchen
- Finished basement with recreation rooms, a full bathroom, and a separate private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,484
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,069,680
$1.1M
Cap Rate 7%
$764,057
$764.1K
Cap Rate 9%
$594,267
$594.3K
Market Conditions
NOI Build-Up for 2,188 SF
Gross rent
$101.1K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$97.2K $44.44/SF
− OpEx
−$43.8K −$20.00/SF
NOI
$53.5K $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 Rate 5%
$1,069,680
Cap Rate 7%
$764,057
Cap Rate 9%
$594,267
Alternative Uses
Best Use
Apartment 5plus
$764.1K
$668.6K – $891.4K
NOI $53,484 @ 7.0% cap · market cap 4.37%
Second Best
Multifamily LT 5
$517.4K
$452.7K – $603.6K
NOI $36,215 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,911 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
762
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 three-bedroom units are complemented by a finished basement with a separate entrance and a private driveway.
Where is this duplex located?
The property is located at 229-24 Edgewood Avenue Laurelton, NY.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Detached legal two‑family property with two three‑bedroom units; Each residence includes one full bathroom, a living room, formal dining area, and eat‑in kitchen; Finished basement with recreation rooms, a full bathroom, and a separate private entrance
