Renovated Two-Family Property with
For Sale
$1,695,000
25-69 46th Street, Queens, NY 11103
Two updated residences offer private parking, solar panels, and separate heating and cooling systems.
Property Size2,772 SF
Lot Size0.05 Acres
Price / SF$611.47
Days on Market422
Property Features for 25-69 46th Street
General Information
Standard status
Active
Size
2,772 SF
Lot size
0.05 Acres
Property subtype
Triplex
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR duplex, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,784
Amenities
private parking
split heating & cooling systems
stainless steel appliances
in-unit washer and dryer
solar panels
Building Details
Building Size
2,772 SF
Year Built
1935
Year Renovated
2024
Buildings
1
Listing Agency:
Compass
Listed By:
John Constantinides
(917) 903-1606
Source:
Howardhannanyc
Added: Jul 29, 2025
Changed: Sep 23
Last Checked: Sep 22 at 5:59PM
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 Compass
Investment Insights
Based on property information with market context.
This two-family property contains 2,772 square feet on a 20' x 100' lot with a 20' x 48' building footprint. The first-floor residence is a one-bedroom duplex with a finished basement, wet bar, and electric fireplace. The second-floor apartment has two bedrooms. Both homes include stainless steel appliances, in-unit laundry, split heating and cooling, and independent gas-powered boilers for heat and hot water, with electric hot water heaters serving as backup systems.
Originally built in 1935, the property was comprehensively renovated in 2024. Improvements include new plumbing, electrical systems, windows, roofing, boilers, and solar panels. Private parking is also included. The home is located near the 46th Street station, served by the M and R subway lines, with access toward Manhattan.
Originally built in 1935, the property was comprehensively renovated in 2024. Improvements include new plumbing, electrical systems, windows, roofing, boilers, and solar panels. Private parking is also included. The home is located near the 46th Street station, served by the M and R subway lines, with access toward Manhattan.
Key Highlights
- 2,772‑square‑foot two‑family property
- 20' x 100' lot with a 20' x 48' building footprint
- Comprehensively renovated in 2024
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
$67,760
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
4.00%
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%
$1,355,200
$1.4M
Cap Rate 7%
$968,000
$968.0K
Cap Rate 9%
$752,889
$752.9K
Market Conditions
NOI Build-Up for 2,772 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
$128.1K $46.20/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$123.2K $44.44/SF
− OpEx
−$55.4K −$20.00/SF
NOI
$67.8K $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%
$1,355,200
Cap Rate 7%
$968,000
Cap Rate 9%
$752,889
Alternative Uses
Best Use
Apartment 5plus
$968.0K
$847.0K – $1.13M
NOI $67,760 @ 7.0% cap · market cap 4.00%
Second Best
Multifamily LT 5
$655.4K
$573.5K – $764.7K
NOI $45,881 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $143,049 @ 7.0% cap · market cap 8.44%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
Explore this area
Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer private parking, solar panels, and separate heating and cooling systems.
Where is this duplex located?
The property is located at 25-69 46th Street Queens, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 2,772‑square‑foot two‑family property; 20' x 100' lot with a 20' x 48' building footprint; Comprehensively renovated in 2024
