Legal Two-Family
For Sale
$850,000
Pending
280 Van Cott Avenue, Farmingdale, NY 11735
Legal two-family duplex with two two-bedroom apartments, a full basement, and a private backyard.
Property Size1,629 SF
Days on Market74
Property Features for 280 Van Cott Avenue
General Information
Standard status
Pending
Size
1,629 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,607
Building Details
Building Size
1,629 SF
Year Built
1958
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Catherine Youn · License #10301215406
(516) 320-3345
Source:
Cottiemaxwellrealestate
Added: Jul 15
Changed: Sep 20
Last Checked: Sep 24 at 6:05PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This legal two-family duplex offers two spacious two-bedroom apartments, supported by a full basement for additional storage and utility space. The property also includes a large, private backyard, providing outdoor space for tenants.
Located at 280 Van Cott Avenue in Farmingdale, NY, the home is just minutes from the Village’s downtown as well as the LIRR, shopping, dining, and major transportation.
Built in 1958, this configuration supports both tenant occupancy and rental income through two separate apartments within the same building.
Located at 280 Van Cott Avenue in Farmingdale, NY, the home is just minutes from the Village’s downtown as well as the LIRR, shopping, dining, and major transportation.
Built in 1958, this configuration supports both tenant occupancy and rental income through two separate apartments within the same building.
Key Highlights
- Legal two‑family duplex with two separate two‑bedroom apartments
- Full basement provides additional storage and utility space
- Large, private backyard
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
$31,034
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
3.65%
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%
$620,680
$620.7K
Cap Rate 7%
$443,343
$443.3K
Cap Rate 9%
$344,822
$344.8K
Market Conditions
NOI Build-Up for 1,629 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
$46.9K $28.80/SF
− Vacancy
−$2.6K −$1.58/SF
EGI
$44.3K $27.22/SF
− OpEx
−$13.3K −$8.16/SF
NOI
$31.0K $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%
$620,680
Cap Rate 7%
$443,343
Cap Rate 9%
$344,822
Alternative Uses
Best Use
Multifamily LT 5
$443.3K
$387.9K – $517.2K
NOI $31,034 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$415.1K
$363.2K – $484.3K
NOI $29,057 @ 7.0% cap · market cap 3.42%
Theoretical Best
Specialty Retail
$1.08M
$942.4K – $1.26M
NOI $75,394 @ 7.0% cap · market cap 8.87%
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
1,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 11735, NY
32,989
Population
11,435
Households
2.9
Avg Household Size
42
Median Age
45%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
3,083
Density / Sq Mi
$146,190
Median Household Income
$64,273
Median Earnings
$2,285
Median Rent
$572,000
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 - Legal two-family duplex with two two-bedroom apartments, a full basement, and a private backyard.
Where is this duplex located?
The property is located at 280 Van Cott Avenue Farmingdale, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Legal two‑family duplex with two separate two‑bedroom apartments; Full basement provides additional storage and utility space; Large, private backyard
