Two-Family Duplex
New
For Sale
$995,000
2681 Sheldon Place, Oceanside, NY 11572
Residential Income, Oceanside, NY
Property Size2,492 SF
Lot Size0.19 Acres
Price / SF$399.28
Days on Market5
Property Features for 2681 Sheldon Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Basement, Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 3
Parking features
Driveway
Interior features
First Floor Bedroom, Eat-in Kitchen
Basement
Unfinished, Walk-Out Access
Elementary school
School 5
Middle school
School 9M-Oceanside Middle School
High school
School 7-Oceanside Senior Hs
Elementary school district
Oceanside
Middle school district
Oceanside
High school district
Oceanside
Standard status
Active
APN
2089-38-533-00-0032-0
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16281
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
landscaped rear yard
Building Details
Year built
1981
Number of units
2
Flooring type
Hardwood
Building materials
Cedar
Listing Agency:
VYLLA Home
(888) 575-2773
Listed By:
Annette Attanasio
(888) 236-6319
Added: Sep 12
Changed: Sep 15
Last Checked: Sep 16 at 11:06PM
MLS# 1047598
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.
This two-unit residential property in Oceanside, NY, was built in 1981 and provides approximately 2,492 square feet of living space. Each apartment is configured with three bedrooms and two full bathrooms, including a primary bedroom with its own bath. Hardwood flooring, central air conditioning, cedar construction, eat-in kitchens, and first-floor bedrooms are among the existing features. The property is offered in its present condition.
The approximately 8,265-square-foot lot includes a private driveway, landscaped rear yard, and additional outdoor space. A full unfinished basement with approximately 8-foot ceilings and a full attic provide supplemental storage and utility areas. Public water and public sewer serve the property, with natural gas heating. The address is 2681 Sheldon Place, Oceanside, NY 11572.
The approximately 8,265-square-foot lot includes a private driveway, landscaped rear yard, and additional outdoor space. A full unfinished basement with approximately 8-foot ceilings and a full attic provide supplemental storage and utility areas. Public water and public sewer serve the property, with natural gas heating. The address is 2681 Sheldon Place, Oceanside, NY 11572.
Key Highlights
- Two 3‑bedroom, 2‑bath residential units with 6 bedrooms and 4 full bathrooms
- Approximately 2,492 square feet of living space on an approximately 8,265 square foot lot
- Built in 1981 with cedar construction and hardwood flooring
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
$47,476
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
4.77%
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%
$949,520
$949.5K
Cap Rate 7%
$678,229
$678.2K
Cap Rate 9%
$527,511
$527.5K
Market Conditions
NOI Build-Up for 2,492 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
$71.8K $28.80/SF
− Vacancy
−$3.9K −$1.58/SF
EGI
$67.8K $27.22/SF
− OpEx
−$20.3K −$8.16/SF
NOI
$47.5K $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%
$949,520
Cap Rate 7%
$678,229
Cap Rate 9%
$527,511
Alternative Uses
Best Use
Multifamily LT 5
$678.2K
$593.5K – $791.3K
NOI $47,476 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$635.0K
$555.6K – $740.9K
NOI $44,451 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$1.65M
$1.44M – $1.92M
NOI $115,336 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 11572, NY
31,157
Population
10,811
Households
2.9
Avg Household Size
44
Median Age
48%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
6,491
Density / Sq Mi
$144,419
Median Household Income
$61,627
Median Earnings
$2,118
Median Rent
$627,300
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 residential units with private driveway, central air conditioning, hardwood floors, basement storage, and a landscaped rear yard.
Where is this duplex located?
The property is located at 2681 Sheldon Place Oceanside, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath residential units with 6 bedrooms and 4 full bathrooms; Approximately 2,492 square feet of living space on an approximately 8,265 square foot lot; Built in 1981 with cedar construction and hardwood flooring
