Brick Two-Family with Finished
28 Baldwin Street Farmingdale, NY 11735
28 Baldwin Street, Farmingdale, NY, 11735
$999,990
For Sale
$999,990
Legal 2-family home with a finished basement, multiple bedrooms, and three full baths, plus separate electric metering.
Property Size2,048 SF
Price / SF$488.28
Days on Market40
Property Features for 28 Baldwin Street
General Information
- Standard status
- Active
- Size
- 2,048 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1962
Listing agency
Coldwell Banker American Homes
(516) 293-2323
Listed by
Lawrence J. Theodore
(516) 293-2323
Source
Compass
Added: Jun 13 Updated: Jul 21 at 6:39AM Checked: Jul 21 at 6:39AM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
This legal two-family residence is configured as a 6-over-6 with a full finished basement and three full bathrooms total. Each level includes a living room and dining room with hardwood floors, along with an eat-in kitchen and additional bedrooms with hardwood flooring. The first floor features a ceramic tile full bath, while the second floor includes a remodeled layout with an updated ceramic tile full bath and a new eat-in kitchen with upgraded stainless steel appliances.
The exterior includes brick and vinyl siding, vinyl soffits, and gutters and leaders, with a double cement driveway, cement walkway, cement stoop and steps, and wrought iron railings. The property is heated by oil with three-zone heat and includes separate hot water heaters, an above-ground 275-gallon oil tank, and three electric meters supported by two electric panels rated at 100 amps each.
Additional features include a cement patio, two sheds, and separate utility setups intended to serve the two units. The first floor tenant has been in place for over 20 years, with a lease expiring 1/31/28 and a scheduled rent increase on 1/31/27 per the lease agreement. The second floor unit rents through 4/30/27, with rent plus electric.
The exterior includes brick and vinyl siding, vinyl soffits, and gutters and leaders, with a double cement driveway, cement walkway, cement stoop and steps, and wrought iron railings. The property is heated by oil with three-zone heat and includes separate hot water heaters, an above-ground 275-gallon oil tank, and three electric meters supported by two electric panels rated at 100 amps each.
Additional features include a cement patio, two sheds, and separate utility setups intended to serve the two units. The first floor tenant has been in place for over 20 years, with a lease expiring 1/31/28 and a scheduled rent increase on 1/31/27 per the lease agreement. The second floor unit rents through 4/30/27, with rent plus electric.
Key Highlights
- Legal 2‑family home with 6 over 6 layout, offering 6 bedrooms and 3 full baths
- Finished full walk‑out basement with full bath (Bilco door(s) and walk‑out access)
- South‑facing brick and vinyl siding exterior with double cement driveway, cement walkway, and cement stoop with wrought‑iron railings
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.0k | $28.80 |
| − Vacancy | −$3.2k | −$1.58 |
| EGI | $55.7k | $27.22 |
| − OpEx | −$16.7k | −$8.16 |
| NOI | $39.0k | $19.05 |
2,048 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$557.4K
$487.7K – $650.3K
NOI $39,017 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$521.9K
$456.6K – $608.9K
NOI $36,531 @ 7.0% cap · market cap 3.65%
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,787 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Legal 2-family home with a finished basement, multiple bedrooms, and three full baths, plus separate electric metering.
Where is this duplex located?
The property is located at 28 Baldwin Street Farmingdale, NY.
What is the asking price?
The asking price for this property is $999,990.
What are key features of this property?
This property features: Legal 2‑family home with 6 over 6 layout, offering 6 bedrooms and 3 full baths; Finished full walk‑out basement with full bath (Bilco door(s) and walk‑out access); South‑facing brick and vinyl siding exterior with double cement driveway, cement walkway, and cement stoop with wrought‑iron railings
