Renovated Two-Family
For Sale
$1,349,000
Pending
24149 148th Drive, Rosedale, NY 11422
Residential Income, Rosedale, NY
Property Size3,000 SF
Lot Size0.09 Acres
Days on Market192
Property Features for 24149 148th Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 5, Basement
Parking features
Driveway
Interior features
First Floor Bedroom, First Floor Full Bath
Basement
Finished, Full
Standard status
Pending
APN
13748-0046
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7740
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
garage
yard
central HVAC
finished basement
Building Details
Year built
1950
Number of units
2
Building materials
Brick, Frame
Listing Agency:
Keystone Realty USA Corp
(631) 261-2800
Listed By:
Gabriel Kashi
(347) 419-5268
Added: Mar 5
Changed: Sep 12
Last Checked: Sep 13 at 9:06AM
MLS# 967756
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 24149 148th Drive in Rosedale, this renovated two-family duplex offers two three-bedroom, two-bathroom residences along with a finished basement. The 25x41 building sits on a 40x100 lot with a private driveway, garage, and yard area. One residence occupies the first floor, while the second-floor layout provides a separate living arrangement.
Interior improvements include wide oak flooring, recessed lighting, updated electrical and plumbing systems, heating upgrades, and central HVAC. Both residences feature open living and dining areas, modern kitchens with granite counters, custom cabinetry, stainless steel appliances, and islands with bar seating. Bedrooms include closet space, and the primary suite has a private en suite bathroom.
The full-height basement has interior and exterior entrances and includes additional finished space. The property is near Brookville Boulevard, Edgewood Street, 149th Avenue, schools, shopping, restaurants, parks, JFK Airport, airport hotels, and the JFK Cargo Section.
Interior improvements include wide oak flooring, recessed lighting, updated electrical and plumbing systems, heating upgrades, and central HVAC. Both residences feature open living and dining areas, modern kitchens with granite counters, custom cabinetry, stainless steel appliances, and islands with bar seating. Bedrooms include closet space, and the primary suite has a private en suite bathroom.
The full-height basement has interior and exterior entrances and includes additional finished space. The property is near Brookville Boulevard, Edgewood Street, 149th Avenue, schools, shopping, restaurants, parks, JFK Airport, airport hotels, and the JFK Cargo Section.
Key Highlights
- Two‑family duplex with two 3‑bedroom, 2‑bathroom residences
- 0.0918‑acre lot measuring 40x100
- 25x41 building with a private driveway, garage, and yard
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
$73,333
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
5.44%
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%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 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
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 5.44%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
489
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Updated residential income property with separate living areas, private parking, outdoor space, and a finished basement.
Where is this duplex located?
The property is located at 24149 148th Drive Rosedale, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Two‑family duplex with two 3‑bedroom, 2‑bathroom residences; 0.0918‑acre lot measuring 40x100; 25x41 building with a private driveway, garage, and yard
