Renovated Duplex with Private
For Sale
$799,000
414 Beach 48th Street, Far Rockaway, NY 11691
Two updated units offer flexible layouts, finished basement access, a backyard, and off-street parking.
Property Size1,869 SF
Days on Market91
Property Features for 414 Beach 48th Street
General Information
Standard status
Active
Size
1,869 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,473
Amenities
large backyard
private driveway
Building Details
Building Size
1,869 SF
Year Built
1960
Buildings
1
Units
2
Listing Agency:
Redfin Real Estate
(516) 345-6819
Listed By:
Anjely Bisai
(516) 345-6819
Source:
Cohenandcohenrealty
Added: May 11
Changed: Aug 5
Last Checked: Aug 8 at 12:50PM
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 Redfin Real Estate
Investment Insights
Based on property information with market context.
This renovated duplex at 414 Beach 48th Street contains two distinct residential units. The larger residence offers 3 bedrooms and 2 baths across a split-level layout, with an open connection between the living, dining, and updated kitchen areas. Direct entry to a finished basement adds space for recreation, storage, or a home office. The second apartment includes 1 bedroom and 1 bath, along with an open living area adjoining the kitchen. Both units feature updated finishes and adaptable room arrangements.
Exterior features include a large backyard suitable for outdoor use and a private driveway providing off-street parking. The property was built in 1960 and is identified as a legal duplex. Its Far Rockaway setting places the home near shopping, schools, parks, public transportation, and local amenities.
Exterior features include a large backyard suitable for outdoor use and a private driveway providing off-street parking. The property was built in 1960 and is identified as a legal duplex. Its Far Rockaway setting places the home near shopping, schools, parks, public transportation, and local amenities.
Key Highlights
- Legal duplex with two separate residential units
- 3‑bedroom, 2‑bath split‑level unit with finished basement access
- 1‑bedroom, 1‑bath apartment with open living and kitchen areas
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
$45,687
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
5.72%
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%
$913,740
$913.7K
Cap Rate 7%
$652,671
$652.7K
Cap Rate 9%
$507,633
$507.6K
Market Conditions
NOI Build-Up for 1,869 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
$86.3K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$83.1K $44.44/SF
− OpEx
−$37.4K −$20.00/SF
NOI
$45.7K $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%
$913,740
Cap Rate 7%
$652,671
Cap Rate 9%
$507,633
Alternative Uses
Best Use
Apartment 5plus
$652.7K
$571.1K – $761.5K
NOI $45,687 @ 7.0% cap · market cap 5.72%
Second Best
Multifamily LT 5
$441.9K
$386.7K – $515.6K
NOI $30,935 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,449 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
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 - Two updated units offer flexible layouts, finished basement access, a backyard, and off-street parking.
Where is this duplex located?
The property is located at 414 Beach 48th Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Legal duplex with two separate residential units; 3‑bedroom, 2‑bath split‑level unit with finished basement access; 1‑bedroom, 1‑bath apartment with open living and kitchen areas
