Colonial Duplex Backing to
For Sale
$999,999
30 Norfolk Drive E, Elmont, NY 11003
MULTI_FAMILY - Colonial - Elmont, NY
Property Size1,950 SF
Lot Size0.19 Acres
Price / SF$512.82
Days on Market157
Property Features for 30 Norfolk Drive E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 2, Bedroom 3, Bedroom 5
Parking features
Garage, Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Built-in Features, Chefs Kitchen, Eat-in Kitchen, Granite Counters, Open Floorplan, Open Kitchen
Basement
Finished, Walk-Out Access
Elementary school
Dutch Broadway School
Middle school
Floral Park Memorial High School
High school
Valley Stream Central High School
Elementary school district
Elmont
Middle school district
Floral Park-Bellerose
High school district
Valley Stream Central
Standard status
Active
APN
2089-37-525-00-0172-0
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12715
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1943
Number of units
2
Building materials
Aluminum Siding
Architectural style
Colonial
Listing Agency:
Compass Greater NY LLC
(516) 517-4751
Listed By:
Ricardo Manier CBR
(917) 742-2050
Added: Mar 10
Changed: Aug 4
Last Checked: Aug 13 at 7:06AM
MLS# 979457
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.
Welcome to 30 Norfolk Drive E, a renovated legal two-family Colonial home in Elmont. The property offers approximately 1,950 square feet with five bedrooms and three full bathrooms, plus an interior with first-floor bedroom and first-floor full bath. An open floorplan and open kitchen with granite counters, along with built-in features and eat-in kitchen elements, support flexible living arrangements.
The home includes a full finished basement, adding additional usable space. Outside, it sits on a 5,700 square foot lot that backs directly to a park, providing a private, green view setting.
Constructed in 1943 with aluminum siding, the residence is heated with baseboard and cooled with window or wall/window unit(s). Parking is available via a garage and driveway, with public water and public sewer, and cable available.
The home includes a full finished basement, adding additional usable space. Outside, it sits on a 5,700 square foot lot that backs directly to a park, providing a private, green view setting.
Constructed in 1943 with aluminum siding, the residence is heated with baseboard and cooled with window or wall/window unit(s). Parking is available via a garage and driveway, with public water and public sewer, and cable available.
Key Highlights
- Renovated legal two‑family Colonial home in Elmont
- Approximately 1,950 square feet with five bedrooms and three full bathrooms
- Full finished basement with flexible layout
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
$47,667
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%
$953,340
$953.3K
Cap Rate 7%
$680,957
$681.0K
Cap Rate 9%
$529,633
$529.6K
Market Conditions
NOI Build-Up for 1,950 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
$90.1K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$86.7K $44.44/SF
− OpEx
−$39.0K −$20.00/SF
NOI
$47.7K $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%
$953,340
Cap Rate 7%
$680,957
Cap Rate 9%
$529,633
Alternative Uses
Best Use
Apartment 5plus
$681.0K
$595.8K – $794.5K
NOI $47,667 @ 7.0% cap · market cap 4.77%
Second Best
Multifamily LT 5
$461.1K
$403.5K – $537.9K
NOI $32,276 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,629 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 11003, NY
43,979
Population
12,641
Households
3.5
Avg Household Size
40
Median Age
33%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
10,727
Density / Sq Mi
$123,000
Median Household Income
$53,302
Median Earnings
$2,315
Median Rent
$576,500
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 - Renovated legal two-family home with a finished basement and flexible layout, backing directly to a park in Elmont.
Where is this duplex located?
The property is located at 30 Norfolk Drive E Elmont, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Renovated legal two‑family Colonial home in Elmont; Approximately 1,950 square feet with five bedrooms and three full bathrooms; Full finished basement with flexible layout
