Two-Family Duplex with
New
For Sale
$1,938,000
40-45 193rd Street, Flushing, NY 11358
Separate gas and electric meters and two boilers support the property's two residential units.
Property Size2,864 SF
Lot Size0.11 Acres
Price / SF$668.28
Days on Market3
Property Features for 40-45 193rd Street
General Information
Standard status
Active
Size
2,864 SF
Total Parking Spaces
3
Lot size
0.11 Acres
Property subtype
Residential Income
Zoning
R3X
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,220
Amenities
backyard
garage
private driveway
finished basement
Wall/Window Unit(s)
Natural Gas
Finished
Garage
Contemporary
Building Details
Building Size
2,864 SF
Year Built
1960
Buildings
1
Listing Agency:
Skylux Realty Inc
Listed By:
Fei Guo · License #10401366341
(516) 587-9113
Source:
Evrealestate
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 11:20AM
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 Skylux Realty Inc
Investment Insights
Based on property information with market context.
This 1960-built, detached two-family residence contains approximately 2,900 SF of interior space. The first unit spans two levels, with three bedrooms and two full bathrooms on the main floor, plus an additional bedroom and living room upstairs. The second unit has one bedroom, one bathroom, living and dining rooms, a kitchen, and backyard access. A finished basement with a separate entrance adds recreation space and another bathroom. The property also has two boilers, separate gas and electric meters, a backyard, a garage, and a private driveway.
Set on a 50X100 corner lot, the home is approximately half a block from the LIRR and one block from Northern Boulevard. Shopping, dining, and transportation are nearby. The property is zoned R3X.
Set on a 50X100 corner lot, the home is approximately half a block from the LIRR and one block from Northern Boulevard. Shopping, dining, and transportation are nearby. The property is zoned R3X.
Key Highlights
- Detached two‑family home with approximately 2,900 SF of interior space
- 50X100 corner lot; building measures 28X52
- First unit has four bedrooms across two levels, including three bedrooms and two full bathrooms on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,889
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,417,780
$1.4M
Cap Rate 7%
$1,012,700
$1.0M
Cap Rate 9%
$787,656
$787.7K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$134.0K $46.20/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$128.9K $44.44/SF
− OpEx
−$58.0K −$20.00/SF
NOI
$70.9K $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%
$1,417,780
Cap Rate 7%
$1,012,700
Cap Rate 9%
$787,656
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$886.1K – $1.18M
NOI $70,889 @ 7.0% cap · market cap 3.66%
Second Best
Multifamily LT 5
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,654 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,909
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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 - Separate gas and electric meters and two boilers support the property's two residential units.
Where is this duplex located?
The property is located at 40-45 193rd Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,938,000.
What are key features of this property?
This property features: Detached two‑family home with approximately 2,900 SF of interior space; 50X100 corner lot; building measures 28X52; First unit has four bedrooms across two levels, including three bedrooms and two full bathrooms on the first floor
