Two-Family Home with Private
New
For Sale
$1,290,000
42-05 249th Street, Little Neck, NY 11363
Two separate residences offer four bedrooms and two full bathrooms, with a full basement connected to the first-floor unit.
Property Size1,796 SF
Lot Size0.07 Acres
Price / SF$718.26
Days on Market6
Property Features for 42-05 249th Street
General Information
Standard status
Active
Size
1,796 SF
Lot size
0.07 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,611
Building Details
Building Size
1,796 SF
Year Built
1925
Buildings
1
Listing Agency:
E Realty International Corp
Listed By:
Vicky Wei
(718) 886-8110
Source:
Cottiemaxwellrealestate
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 13 at 1:32AM
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 duplex contains two residences, each arranged with two bedrooms and one full bathroom. The first-floor unit also includes the full basement, which has a half bathroom. A private garage is part of the property. The home was built in 1925 and contains approximately 1,796 square feet of living space on a 2,913-square-foot lot.
The property is in Little Neck, with access to the LIRR station, bus service, shopping, restaurants, and supermarkets. Nearby schools listed for the area include PS 94 Elementary School, JHS 67 Middle School, and Benjamin N. Cardozo High School.
The property is in Little Neck, with access to the LIRR station, bus service, shopping, restaurants, and supermarkets. Nearby schools listed for the area include PS 94 Elementary School, JHS 67 Middle School, and Benjamin N. Cardozo High School.
Key Highlights
- Legal two‑family home with two 2‑bedroom, 1‑bathroom units
- Full basement with a half bathroom, included with the first‑floor unit
- Private garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,902
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,040
$878.0K
Cap Rate 7%
$627,171
$627.2K
Cap Rate 9%
$487,800
$487.8K
Market Conditions
NOI Build-Up for 1,796 SF
Gross rent
$83.0K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$79.8K $44.44/SF
− OpEx
−$35.9K −$20.00/SF
NOI
$43.9K $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%
$878,040
Cap Rate 7%
$627,171
Cap Rate 9%
$487,800
Alternative Uses
Best Use
Apartment 5plus
$627.2K
$548.8K – $731.7K
NOI $43,902 @ 7.0% cap · market cap 3.40%
Second Best
Multifamily LT 5
$424.7K
$371.6K – $495.5K
NOI $29,727 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,682 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 11363, NY
7,208
Population
3,002
Households
2.4
Avg Household Size
47
Median Age
55%
College-Educated
91%
High-School Grad
0.9 sq mi
ZIP Area
8,009
Density / Sq Mi
$110,833
Median Household Income
$68,985
Median Earnings
$2,235
Median Rent
$1,019,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer four bedrooms and two full bathrooms, with a full basement connected to the first-floor unit.
Where is this duplex located?
The property is located at 42-05 249th Street Little Neck, NY.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Legal two‑family home with two 2‑bedroom, 1‑bathroom units; Full basement with a half bathroom, included with the first‑floor unit; Private garage
