Residential Income Property with
For Sale
$2,780,000
Pending
40-49 189th Street, Flushing, NY 11358
Two residential levels each offer a four-bedroom, three-bathroom layout, with additional basement space.
Property Size3,235 SF
Days on Market9
Property Features for 40-49 189th Street
General Information
Standard status
Pending
Size
3,235 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$13,106
Amenities
See Remarks
6
Yes
8
First Floor Bedroom,First Floor Full Bath,Breakfast Bar,Granite Counters
Public
No
Other
3235
Building Details
Building Size
3,235 SF
Year Built
2017
Listing Agency:
E Realty International Corp
(516) 703-2918
Listed By:
Randy Kral
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:12PM
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
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Investment Insights
Based on property information with market context.
Built in 2017, this residential income property has two levels, each with four bedrooms, three bathrooms and more than 1,600 square feet of living area. A high-ceiling basement adds further space.
The property is near Northern Boulevard, with supermarkets, restaurants, shopping and transportation in the surrounding area.
The property is near Northern Boulevard, with supermarkets, restaurants, shopping and transportation in the surrounding area.
Key Highlights
- Built in 2017
- Two levels, each with 4 bedrooms and 3 bathrooms
- More than 1,600 square feet of living space on each level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,078
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,581,560
$1.6M
Cap Rate 7%
$1,129,686
$1.1M
Cap Rate 9%
$878,644
$878.6K
Market Conditions
NOI Build-Up for 3,235 SF
Gross rent
$149.5K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$143.8K $44.44/SF
− OpEx
−$64.7K −$20.00/SF
NOI
$79.1K $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 Rate 5%
$1,581,560
Cap Rate 7%
$1,129,686
Cap Rate 9%
$878,644
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$988.5K – $1.32M
NOI $79,078 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.09M – $2.78M
NOI $166,942 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,180
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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Frequently Asked Questions
What type of property is this?
Residential income property - Two residential levels each offer a four-bedroom, three-bathroom layout, with additional basement space.
Where is this residential income property located?
The property is located at 40-49 189th Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,780,000.
What are key features of this property?
This property features: Built in 2017; Two levels, each with 4 bedrooms and 3 bathrooms; More than 1,600 square feet of living space on each level
