Two-Family Home with Finished
For Sale
$849,000
24011 144th Avenue, Rosedale, NY 11422
Income-producing duplex with a finished basement and one vacant unit available for occupancy or leasing.
Property Size1,724 SF
Days on Market20
Property Features for 24011 144th Avenue
General Information
Standard status
Active
Size
1,724 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Cap Rate
3%
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,353
Building Details
Building Size
1,724 SF
Year Built
1925
Buildings
1
Units
2
Listing Agency:
Global Xchange Realty, LLC
(917) 412-0047
Listed By:
Nicholas R. Charles
(917) 412-0047
Source:
Cohenandcohenrealty
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 20 at 5:12AM
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 Global Xchange Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1925, this duplex includes two three-bedroom units along with a finished basement. The first-floor unit and basement are occupied on a month-to-month basis without leases. The second-floor residence is vacant and includes three bedrooms, one full bathroom, and a finished attic, providing flexibility for an owner-occupant or an additional rental unit.
The property is located at 24011 144th Avenue in Rosedale, Queens, near shopping, schools, parks, public transportation, and major highways. Current operations reflect an approximately 3% cap rate, while leasing the vacant unit at market value is described as supporting a potential increase to nearly 6%.
The property is located at 24011 144th Avenue in Rosedale, Queens, near shopping, schools, parks, public transportation, and major highways. Current operations reflect an approximately 3% cap rate, while leasing the vacant unit at market value is described as supporting a potential increase to nearly 6%.
Key Highlights
- Duplex with two three‑bedroom units and a finished basement
- Second‑floor unit is vacant and includes 3 bedrooms, 1 full bathroom, and a finished attic
- First‑floor unit and finished basement are tenant‑occupied month‑to‑month with no lease
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
$42,142
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
4.96%
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%
$842,840
$842.8K
Cap Rate 7%
$602,029
$602.0K
Cap Rate 9%
$468,244
$468.2K
Market Conditions
NOI Build-Up for 1,724 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
$79.6K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$76.6K $44.44/SF
− OpEx
−$34.5K −$20.00/SF
NOI
$42.1K $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 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%
$842,840
Cap Rate 7%
$602,029
Cap Rate 9%
$468,244
Alternative Uses
Best Use
Apartment 5plus
$602.0K
$526.8K – $702.4K
NOI $42,142 @ 7.0% cap · market cap 4.96%
Second Best
Multifamily LT 5
$407.6K
$356.7K – $475.6K
NOI $28,535 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,967 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Explore this area
Business Placement
Demographics for 11422, NY
32,839
Population
10,694
Households
3.1
Avg Household Size
41
Median Age
33%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
15,638
Density / Sq Mi
$108,519
Median Household Income
$51,788
Median Earnings
$2,327
Median Rent
$629,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with a finished basement and one vacant unit available for occupancy or leasing.
Where is this duplex located?
The property is located at 24011 144th Avenue Rosedale, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Duplex with two three‑bedroom units and a finished basement; Second‑floor unit is vacant and includes 3 bedrooms, 1 full bathroom, and a finished attic; First‑floor unit and finished basement are tenant‑occupied month‑to‑month with no lease
