Legal Two-Family Duplex with Detached
For Sale
$979,000
2477 Margaret Street, Bellmore, NY 11710
MULTI_FAMILY - Other - Bellmore, NY
Property Size2,339 SF
Lot Size0.14 Acres
Price / SF$418.55
Days on Market60
Property Features for 2477 Margaret Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Rooms
Basement, Bedroom 3, Bedroom 2, Bedroom 1
Parking
4
Parking features
Driveway
Window features
Blinds
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Kitchen Island, Open Floorplan, Open Kitchen, Washer/Dryer Hookup
Fireplace
1
Basement
Crawl Space
Elementary school
Shore Road School
Middle school
Grand Avenue Middle School
High school
John F Kennedy High School
Elementary school district
Bellmore
Middle school district
Bellmore-Merrick
High school district
Bellmore-Merrick
Directions
Merrick Ave to Margaret St
Standard status
Active
APN
2089-63-212-00-0120-0
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
15062
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
fireplace
full attic for storage
solar panels
Building Details
Year built
1951
Number of units
2
Flooring type
Combination
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Maria Carrasquillo CBR
(516) 640-7905
Added: Jun 14
Changed: Aug 3
Last Checked: Aug 12 at 11:06AM
MLS# 1013325
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.
Legal two-family duplex on a fenced 0.1423-acre property with approximately 2,339 square feet of living space. Built in 1951 with vinyl siding, the home is well maintained and designed for flexible use as an investment property or an owner-occupied home with additional income.
The first-floor unit includes two bedrooms and 1.5 baths, an open-concept living room and kitchen, and a fireplace. The second unit features three bedrooms and one full bath with a functional layout and natural light. A full attic provides additional storage, and the property also offers a detached two-car garage plus a long driveway with parking for 4+ cars.
Utilities include public water and public sewer. Heating is oil-based, and cooling is provided by window/wall units. Solar panels are leased, and washer/dryer hookups are available.
The first-floor unit includes two bedrooms and 1.5 baths, an open-concept living room and kitchen, and a fireplace. The second unit features three bedrooms and one full bath with a functional layout and natural light. A full attic provides additional storage, and the property also offers a detached two-car garage plus a long driveway with parking for 4+ cars.
Utilities include public water and public sewer. Heating is oil-based, and cooling is provided by window/wall units. Solar panels are leased, and washer/dryer hookups are available.
Key Highlights
- 0.1423‑acre fenced property with legal two‑family duplex layout
- Approximately 2,339 SF of living space
- First‑floor: 2 bedrooms, 1.5 baths, open‑concept living/kitchen, fireplace
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
Multi-tenant
Tenancy
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 two-family duplex with leased solar, oil heating, and a detached two-car garage on a fenced lot.
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: 0.1423‑acre fenced property with legal two‑family duplex layout; Approximately 2,339 SF of living space; First‑floor: 2 bedrooms, 1.5 baths, open‑concept living/kitchen, fireplace
