Renovated Detached
For Sale
$1,199,990
253-02 Memphis Avenue, Rosedale, NY 11422
Two separate living levels offer functional layouts with hardwood flooring and one-and-a-half bathrooms per unit.
Property Size2,066 SF
Days on Market13
Property Features for 253-02 Memphis Avenue
General Information
Standard status
Active
Size
2,066 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,543
Building Details
Building Size
2,066 SF
Year Built
1940
Buildings
1
Units
2
Construction
Hi-Ranch
Listing Agency:
RE/MAX Southshore Realty
(718) 276-4848
Listed By:
Kenny Kamil Sattaur
(718) 276-4848
Source:
Cohenandcohenrealty
Added: Aug 4
Changed: Aug 12
Last Checked: Aug 15 at 12:55PM
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 RE/MAX Southshore Realty
Investment Insights
Based on property information with market context.
Located at 253-02 Memphis Avenue in Rosedale, this detached duplex was built in 1940 and recently renovated. Each residence provides three bedrooms and one-and-a-half bathrooms, creating matching layouts across the two primary living levels. Hardwood flooring runs throughout the home, while modern updates complement the existing character of the property.
The full finished basement adds usable interior space and includes its own exterior entrance. A detached two-car driveway provides off-street parking. Solar panels are installed at the property, and the purchaser will assume the current solar panel lease. The property is identified as a duplex and is situated in Rosedale, NY 11422.
The full finished basement adds usable interior space and includes its own exterior entrance. A detached two-car driveway provides off-street parking. Solar panels are installed at the property, and the purchaser will assume the current solar panel lease. The property is identified as a duplex and is situated in Rosedale, NY 11422.
Key Highlights
- Detached duplex with 3 bedrooms and 1.5 bathrooms on each floor
- Recently renovated with modern finishes and hardwood floors throughout
- Full finished basement with separate outside entrance
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
$50,502
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
4.21%
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%
$1,010,040
$1.0M
Cap Rate 7%
$721,457
$721.5K
Cap Rate 9%
$561,133
$561.1K
Market Conditions
NOI Build-Up for 2,066 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
$95.4K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.8K $44.44/SF
− OpEx
−$41.3K −$20.00/SF
NOI
$50.5K $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%
$1,010,040
Cap Rate 7%
$721,457
Cap Rate 9%
$561,133
Alternative Uses
Best Use
Apartment 5plus
$721.5K
$631.3K – $841.7K
NOI $50,502 @ 7.0% cap · market cap 4.21%
Second Best
Multifamily LT 5
$488.5K
$427.5K – $569.9K
NOI $34,196 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,616 @ 7.0% cap · market cap 8.88%
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
965
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living levels offer functional layouts with hardwood flooring and one-and-a-half bathrooms per unit.
Where is this duplex located?
The property is located at 253-02 Memphis Avenue Rosedale, NY.
What is the asking price?
The asking price for this property is $1,199,990.
What are key features of this property?
This property features: Detached duplex with 3 bedrooms and 1.5 bathrooms on each floor; Recently renovated with modern finishes and hardwood floors throughout; Full finished basement with separate outside entrance
