Two-Unit Home with Detached
For Sale
$979,000
2477 Margaret Street, Bellmore, NY 11710
Legal duplex with separate living arrangements, storage, fenced grounds, and substantial off-street parking.
Property Size2,339 SF
Lot Size0.14 Acres
Price / SF$418.55
Days on Market77
Property Features for 2477 Margaret Street
General Information
Standard status
Active
Size
2,339 SF
Total Parking Spaces
4
Lot size
0.14 Acres
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
could benefit from some updating
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,062
Amenities
fireplace
attic storage
solar panels
Building Details
Building Size
2,339 SF
Year Built
1951
Buildings
1
Stories
2
Units
2
Listing Agency:
EXP Realty
(516) 640-7905
Listed By:
Maria Carrasquillo CBR
(516) 640-7905
Source:
Callexitfirst
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 29 at 9:03PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This legal two-family residence at 2477 Margaret Street in Bellmore, NY, contains approximately 2,339 square feet of living space across two distinct units. The first-floor residence includes two bedrooms, 1.5 baths, an open living and kitchen area, and a fireplace. The upper unit provides three bedrooms and one full bath. A full attic adds storage, while the detached two-car garage and extended driveway provide additional utility.
The home occupies a .14-acre fenced property and was built in 1951. Solar panels are leased and remain part of the property’s energy setup. The configuration offers separate household spaces within a single residential income property, with existing features that include a range of bedroom and bath layouts.
The home occupies a .14-acre fenced property and was built in 1951. Solar panels are leased and remain part of the property’s energy setup. The configuration offers separate household spaces within a single residential income property, with existing features that include a range of bedroom and bath layouts.
Key Highlights
- Legal two‑family property with 2 separate residential units
- Approximately 2,339 square feet of living space
- Unit mix includes 2 bedrooms and 1.5 baths downstairs; 3 bedrooms and 1 full bath upstairs
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
$44,561
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
4.55%
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%
$891,220
$891.2K
Cap Rate 7%
$636,586
$636.6K
Cap Rate 9%
$495,122
$495.1K
Market Conditions
NOI Build-Up for 2,339 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
$67.4K $28.80/SF
− Vacancy
−$3.7K −$1.58/SF
EGI
$63.7K $27.22/SF
− OpEx
−$19.1K −$8.16/SF
NOI
$44.6K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$891,220
Cap Rate 7%
$636,586
Cap Rate 9%
$495,122
Alternative Uses
Best Use
Multifamily LT 5
$636.6K
$557.0K – $742.7K
NOI $44,561 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$596.0K
$521.5K – $695.4K
NOI $41,722 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,255 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,357
Businesses Nearby
Explore this area
Business Placement
Demographics for 11710, NY
35,155
Population
11,717
Households
3
Avg Household Size
43
Median Age
54%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
7,174
Density / Sq Mi
$173,136
Median Household Income
$76,812
Median Earnings
$2,495
Median Rent
$647,000
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 duplex with separate living arrangements, storage, fenced grounds, and substantial off-street parking.
Where is this duplex located?
The property is located at 2477 Margaret Street Bellmore, NY.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Legal two‑family property with 2 separate residential units; Approximately 2,339 square feet of living space; Unit mix includes 2 bedrooms and 1.5 baths downstairs; 3 bedrooms and 1 full bath upstairs
