Brick Duplex with Vacant
New
For Sale
$1,390,000
33-28 14th Street, Astoria, NY 11106
Residential, Duplex, Astoria, NY
Property Size2,262 SF
Lot Size0.03 Acres
Price / SF$614.50
Days on Market3
Property Features for 33-28 14th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R6
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
Carport
Interior features
Refrigerator, Stove
Subdivision
Long Island City
Standard status
Active
Size
2,262 SF
Lot size
0.03 Acres
Building Details
Year built
1996
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# 504107
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 2,262-square-foot legal two-family residence includes a five-bedroom layout across three levels. The main unit occupies the first and second floors, with a living room, half bathroom, open kitchen and dining area below, plus three bedrooms and a full bathroom upstairs. The second unit fills the third floor and provides two bedrooms, a full bathroom, living room, dining area, and kitchen. The property will be delivered vacant.
Built in 1996, the residence has brick construction, hardwood and tile flooring, a flat roof, refrigerator and stove, and a carport. It sits on a 0.0288-acre lot and is zoned R6. The Astoria property is near the Astoria and Long Island City communities, with access to transportation, shopping, dining, parks, and neighborhood amenities.
Built in 1996, the residence has brick construction, hardwood and tile flooring, a flat roof, refrigerator and stove, and a carport. It sits on a 0.0288-acre lot and is zoned R6. The Astoria property is near the Astoria and Long Island City communities, with access to transportation, shopping, dining, parks, and neighborhood amenities.
Key Highlights
- Legal two‑family residence with five bedrooms and three bathrooms
- Main unit spans the first and second floors; second unit occupies the third floor
- 2,262 square feet on a 0.0288‑acre lot
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
$55,293
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
3.98%
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%
$1,105,860
$1.1M
Cap Rate 7%
$789,900
$789.9K
Cap Rate 9%
$614,367
$614.4K
Market Conditions
NOI Build-Up for 2,262 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
$104.5K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$100.5K $44.44/SF
− OpEx
−$45.2K −$20.00/SF
NOI
$55.3K $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%
$1,105,860
Cap Rate 7%
$789,900
Cap Rate 9%
$614,367
Alternative Uses
Best Use
Apartment 5plus
$789.9K
$691.2K – $921.6K
NOI $55,293 @ 7.0% cap · market cap 3.98%
Second Best
Multifamily LT 5
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,730 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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 - Delivered vacant with five bedrooms arranged across two residential units.
Where is this duplex located?
The property is located at 33-28 14th Street Astoria, NY.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Legal two‑family residence with five bedrooms and three bathrooms; Main unit spans the first and second floors; second unit occupies the third floor; 2,262 square feet on a 0.0288‑acre lot
