Two-Family Duplex With Vacant
For Sale
$1,390,000
3328 14th Street, Astoria, NY 11106
Legal two-family property with separate living areas and flexible occupancy options.
Property Size2,262 SF
Days on Market17
Property Features for 3328 14th Street
General Information
Standard status
Active
Size
2,262 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,837
Building Details
Building Size
2,262 SF
Year Built
1996
Listing Agency:
Momentum Real Estate, LLC
Listed By:
Thomas Leong
(718) 382-0001
Source:
Serhant
Added: Aug 28
Changed: Sep 12
Last Checked: Sep 12 at 7:21AM
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 Momentum Real Estate, LLC
Investment Insights
Based on property information with market context.
This legal two-family duplex was built in 1996 and will be delivered vacant. The main residence spans the first and second floors, with a living room, half bathroom, open kitchen and dining area on the first level, followed by three bedrooms and a full bathroom upstairs. A second residence occupies the entire third floor and includes two bedrooms, a full bathroom, living room, dining area, and kitchen.
Located on 14th Street in Astoria, the property is near the Astoria and Long Island City communities. The surrounding area offers access to transportation, shopping, dining, parks, and neighborhood amenities. The two-unit configuration supports owner occupancy, extended-family use, or separate rental arrangements.
Located on 14th Street in Astoria, the property is near the Astoria and Long Island City communities. The surrounding area offers access to transportation, shopping, dining, parks, and neighborhood amenities. The two-unit configuration supports owner occupancy, extended-family use, or separate rental arrangements.
Key Highlights
- Legal two‑family duplex built in 1996
- Main residence spans the first and second floors
- Main unit includes 3 bedrooms and 1 full bathroom
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
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Open Analytics
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
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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 property with separate living areas and flexible occupancy options.
Where is this duplex located?
The property is located at 3328 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 duplex built in 1996; Main residence spans the first and second floors; Main unit includes 3 bedrooms and 1 full bathroom
