Duplex with Detached
New
For Sale
$1,699,000
32-07 148th Street, Flushing, NY 11354
Two apartments sit above a walk-out basement, with a private backyard and on-site garage.
Property Size2,206 SF
Lot Size0.13 Acres
Days on Market3
Property Features for 32-07 148th Street
General Information
Standard status
Active
Size
2,206 SF
Lot size
0.13 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,797
Amenities
fireplace
private backyard
washer/dryer
Building Details
Building Size
2,206 SF
Year Built
1940
Listing Agency:
EXP Realty
Listed By:
Xingye Fu
(516) 336-9417
Source:
Barbieliteam
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:20AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
Built in 1940, this duplex has a 3-bedroom, 1-bathroom lower apartment and a 2-bedroom, 2-bathroom upper apartment. The walk-out basement has separate exterior entrances, and the full attic offers approximately 9-foot ceiling clearance. Interior features include hardwood floors and a fireplace. A private backyard, detached two-car garage, driveway, and two sets of washers and dryers complete the property. The lot measures 5,781 sq. ft.
Murray Hill LIRR Station is within walking distance. Downtown Flushing offers shopping, dining, and transportation access.
Murray Hill LIRR Station is within walking distance. Downtown Flushing offers shopping, dining, and transportation access.
Key Highlights
- Two apartments: 3 bedrooms and 1 bathroom downstairs; 2 bedrooms and 2 bathrooms upstairs
- 5,781 sq. ft. lot
- Walk‑out basement with separate exterior entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,924
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,078,480
$1.1M
Cap Rate 7%
$770,343
$770.3K
Cap Rate 9%
$599,156
$599.2K
Market Conditions
NOI Build-Up for 2,206 SF
Gross rent
$101.9K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$98.0K $44.44/SF
− OpEx
−$44.1K −$20.00/SF
NOI
$53.9K $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 Rate 5%
$1,078,480
Cap Rate 7%
$770,343
Cap Rate 9%
$599,156
Alternative Uses
Best Use
Apartment 5plus
$770.3K
$674.1K – $898.7K
NOI $53,924 @ 7.0% cap · market cap 3.17%
Second Best
Multifamily LT 5
$521.6K
$456.4K – $608.6K
NOI $36,513 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,840 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
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Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments sit above a walk-out basement, with a private backyard and on-site garage.
Where is this duplex located?
The property is located at 32-07 148th Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Two apartments: 3 bedrooms and 1 bathroom downstairs; 2 bedrooms and 2 bathrooms upstairs; 5,781 sq. ft. lot; Walk‑out basement with separate exterior entrances
