Duplex with Finished
For Sale
$1,249,000
38-26 55th Street, Woodside, NY 11377
Four-bedroom two-family property with updated appliances on both floors and additional finished basement space.
Property Size1,436 SF
Days on Market12
Property Features for 38-26 55th Street
General Information
Standard status
Active
Size
1,436 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,988
Building Details
Building Size
1,436 SF
Year Built
1925
Buildings
1
Listing Agency:
City Homes Realty Group LLC
(718) 255-9888
Listed By:
Segundo F. Agudo CBR E-PRO
Source:
Serhant
Added: Aug 13
Changed: Aug 22
Last Checked: Aug 23 at 8:43AM
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 City Homes Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1925, this two-family duplex includes four bedrooms and two full bathrooms. The finished basement provides additional flexible space, while new stainless steel appliances are installed on each floor. An updated garage roof adds to the property’s recent improvements.
Located in Woodside near Northern Boulevard, the property offers access to the M, R, E, and F subway lines. Shops, restaurants, schools, and everyday amenities are also nearby, providing a connected residential setting for the existing two-family configuration.
Located in Woodside near Northern Boulevard, the property offers access to the M, R, E, and F subway lines. Shops, restaurants, schools, and everyday amenities are also nearby, providing a connected residential setting for the existing two-family configuration.
Key Highlights
- Two‑family duplex with 4 bedrooms and 2 full baths
- Finished basement with additional flexible space
- New stainless steel appliances on each floor
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
$35,102
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
2.81%
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%
$702,040
$702.0K
Cap Rate 7%
$501,457
$501.5K
Cap Rate 9%
$390,022
$390.0K
Market Conditions
NOI Build-Up for 1,436 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
$66.3K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$63.8K $44.44/SF
− OpEx
−$28.7K −$20.00/SF
NOI
$35.1K $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%
$702,040
Cap Rate 7%
$501,457
Cap Rate 9%
$390,022
Alternative Uses
Best Use
Apartment 5plus
$501.5K
$438.8K – $585.0K
NOI $35,102 @ 7.0% cap · market cap 2.81%
Second Best
Multifamily LT 5
$339.5K
$297.1K – $396.1K
NOI $23,768 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$1.06M
$926.3K – $1.24M
NOI $74,104 @ 7.0% cap · market cap 5.93%
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
3,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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 - Four-bedroom two-family property with updated appliances on both floors and additional finished basement space.
Where is this duplex located?
The property is located at 38-26 55th Street Woodside, NY.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Two‑family duplex with 4 bedrooms and 2 full baths; Finished basement with additional flexible space; New stainless steel appliances on each floor
