Two-Family Duplex with Finished
For Sale
$1,149,999
242-19 83rd Avenue, Bellerose, NY 11426
Legal two-family duplex with separate gas boilers, finished basement with outside entrance, and a detached one-car garage.
Property Size1,920 SF
Price / SF$598.96
Days on Market86
Property Features for 242-19 83rd Avenue
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
1
Property subtype
Duplex
Amenities
fully finished basement with an outside entrance
fenced-in yard
Building Details
Building Size
1,920 SF
Year Built
1950
Buildings
2
Tenancy
Multi
Listing Agency:
Ciampa Realty Group LLC
(516) 551-4010
Listed By:
Mario J. Ciampa · License #49CI1169157
Source:
Cottiemaxwellrealestate
Added: May 14
Changed: Jul 31
Last Checked: Aug 7 at 2:00AM
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 Ciampa Realty Group LLC
Investment Insights
Based on property information with market context.
Legal two-family duplex offering two bedrooms over two bedrooms, with a finished basement that includes an outside entrance. The home is equipped with two separate gas boilers, supporting independent heating for the residence.
Set on a corner lot with south exposure, the interior receives abundant natural light. Outside, there is a detached one-car garage and a fenced-in yard, providing both parking/storage and outdoor space for everyday use.
Built in 1950, the property is positioned near transportation, shopping, schools, and houses of worship, offering convenient access to daily needs.
Set on a corner lot with south exposure, the interior receives abundant natural light. Outside, there is a detached one-car garage and a fenced-in yard, providing both parking/storage and outdoor space for everyday use.
Built in 1950, the property is positioned near transportation, shopping, schools, and houses of worship, offering convenient access to daily needs.
Key Highlights
- Legal two‑family layout with two bedrooms over two bedrooms
- Two separate gas boilers for heating
- 1,920 interior SF including fully finished basement
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
$46,933
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
4.08%
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%
$938,660
$938.7K
Cap Rate 7%
$670,471
$670.5K
Cap Rate 9%
$521,478
$521.5K
Market Conditions
NOI Build-Up for 1,920 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
$88.7K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$85.3K $44.44/SF
− OpEx
−$38.4K −$20.00/SF
NOI
$46.9K $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%
$938,660
Cap Rate 7%
$670,471
Cap Rate 9%
$521,478
Alternative Uses
Best Use
Apartment 5plus
$670.5K
$586.7K – $782.2K
NOI $46,933 @ 7.0% cap · market cap 4.08%
Second Best
Multifamily LT 5
$454.0K
$397.2K – $529.7K
NOI $31,779 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,081 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 11426, NY
19,343
Population
6,813
Households
2.8
Avg Household Size
43
Median Age
44%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
13,816
Density / Sq Mi
$107,591
Median Household Income
$57,622
Median Earnings
$2,158
Median Rent
$676,100
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 - Legal two-family duplex with separate gas boilers, finished basement with outside entrance, and a detached one-car garage.
Where is this duplex located?
The property is located at 242-19 83rd Avenue Bellerose, NY.
What is the asking price?
The asking price for this property is $1,149,999.
What are key features of this property?
This property features: Legal two‑family layout with two bedrooms over two bedrooms; Two separate gas boilers for heating; 1,920 interior SF including fully finished basement
