Three-Story Duplex
New
For Sale
$1,568,000
343 Soundview Lane, College Point, NY 11356
Legal two-family residence with private outdoor space, attached parking, and separate living areas across multiple levels.
Property Size3,036 SF
Days on Market5
Property Features for 343 Soundview Lane
General Information
Standard status
Active
Size
3,036 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,695
Amenities
in-unit washer & dryer
private balcony
backyard access
Building Details
Building Size
3,036 SF
Year Built
2009
Stories
3
Listing Agency:
E Realty International Corp
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Serhant
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 20 at 10:05AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This legal two-family residence was built in 2009 and is arranged across three floors. The first-floor unit includes one bedroom, one full bath, a living room, dining area, in-unit washer and dryer, and direct access to the backyard. It also has an attached garage and one additional parking space in front.
The upper residence includes three bedrooms and two full baths on the second floor, with a living room, kitchen, private balcony, and washer and dryer. The third floor adds three bedrooms and one full bath. The property is in College Point, near shopping, restaurants, schools, parks, and public transportation.
The upper residence includes three bedrooms and two full baths on the second floor, with a living room, kitchen, private balcony, and washer and dryer. The third floor adds three bedrooms and one full bath. The property is in College Point, near shopping, restaurants, schools, parks, and public transportation.
Key Highlights
- Legal 2‑family home built in 2009
- First‑floor unit with 1 bedroom and 1 full bath
- Upper residence includes 3 bedrooms and 2 full baths
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
$74,213
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
4.73%
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%
$1,484,260
$1.5M
Cap Rate 7%
$1,060,186
$1.1M
Cap Rate 9%
$824,589
$824.6K
Market Conditions
NOI Build-Up for 3,036 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
$140.3K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$134.9K $44.44/SF
− OpEx
−$60.7K −$20.00/SF
NOI
$74.2K $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%
$1,484,260
Cap Rate 7%
$1,060,186
Cap Rate 9%
$824,589
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$927.7K – $1.24M
NOI $74,213 @ 7.0% cap · market cap 4.73%
Second Best
Multifamily LT 5
$717.9K
$628.1K – $837.5K
NOI $50,251 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,672 @ 7.0% cap · market cap 9.99%
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
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 residence with private outdoor space, attached parking, and separate living areas across multiple levels.
Where is this duplex located?
The property is located at 343 Soundview Lane College Point, NY.
What is the asking price?
The asking price for this property is $1,568,000.
What are key features of this property?
This property features: Legal 2‑family home built in 2009; First‑floor unit with 1 bedroom and 1 full bath; Upper residence includes 3 bedrooms and 2 full baths
