Duplex with Finished
For Sale
$1,438,000
2535 Bayside Ln, Flushing, NY 11358
Two-family property with flexible living space, private outdoor area, and convenient bus access in Flushing.
Property Size1,760 SF
Price / SF$817.05
Days on Market41
Property Features for 2535 Bayside Ln
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
finished basement
side yard
Building Details
Year Built
1955
Listing Agency:
Chase Global Realty Corp
(917) 225-5503
Listed By:
Kayo Lee
Source:
Benny.agcorerealty
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 4:18PM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This duplex was built in 1955 and provides approximately 1,760 square feet of interior space across a five-bedroom, three-full-bathroom layout. A fully finished basement has its own entrance and includes an additional full bathroom, creating flexible separation within the property. A two-car garage and side yard add practical parking and outdoor space.
The property is in Flushing with access to the Q28, Q16, Q61, and Q76 bus lines. Shopping, dining, and everyday services are located nearby. The two-family configuration and finished lower level support both owner-occupant use and rental-oriented ownership, as identified in the property information.
The property is in Flushing with access to the Q28, Q16, Q61, and Q76 bus lines. Shopping, dining, and everyday services are located nearby. The two-family configuration and finished lower level support both owner-occupant use and rental-oriented ownership, as identified in the property information.
Key Highlights
- Five‑bedroom duplex with approximately 1,760 sq ft of interior space
- Fully finished basement with separate entrance and 1 full bathroom
- Built in 1955
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
$43,022
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
2.99%
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%
$860,440
$860.4K
Cap Rate 7%
$614,600
$614.6K
Cap Rate 9%
$478,022
$478.0K
Market Conditions
NOI Build-Up for 1,760 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
$81.3K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$78.2K $44.44/SF
− OpEx
−$35.2K −$20.00/SF
NOI
$43.0K $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%
$860,440
Cap Rate 7%
$614,600
Cap Rate 9%
$478,022
Alternative Uses
Best Use
Apartment 5plus
$614.6K
$537.8K – $717.0K
NOI $43,022 @ 7.0% cap · market cap 2.99%
Second Best
Multifamily LT 5
$416.2K
$364.1K – $485.5K
NOI $29,131 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,824 @ 7.0% cap · market cap 6.32%
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
1,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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 - Two-family property with flexible living space, private outdoor area, and convenient bus access in Flushing.
Where is this duplex located?
The property is located at 2535 Bayside Ln Flushing, NY.
What is the asking price?
The asking price for this property is $1,438,000.
What are key features of this property?
This property features: Five‑bedroom duplex with approximately 1,760 sq ft of interior space; Fully finished basement with separate entrance and 1 full bathroom; Built in 1955
