Detached Two-Family
For Sale
$1,380,000
42-05 249th Street Unit 2, Little Neck, NY 11363
Legal residential property with a full basement, private garage, and access to nearby shopping and rail service.
Property Size1,796 SF
Price / SF$768.37
Days on Market27
Property Features for 42-05 249th Street Unit 2
General Information
Standard status
Active
Size
1,796 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$8,611
Building Details
Building Size
1,796 SF
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Vicky Wei
Source:
Luxuryhomeny
Added: Jul 9
Changed: Aug 2
Last Checked: Aug 4 at 8:09AM
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 two-family detached duplex provides approximately 1,796 SF of living space with four bedrooms and 2.5 bathrooms. The property also includes a full basement and a private garage, adding useful support space and off-street parking. Built in 1925, it offers a clearly defined residential configuration for an owner-occupant or investor.
The property is located at 42-05 249th Street Unit: 2 in Little Neck, NY 11363. Nearby destinations include H Mart, J-Mart, supermarkets, restaurants, and shopping. Little Neck LIRR Station is also close by, providing rail access for regional commuting. The surrounding school district is identified as a notable property consideration.
The property is located at 42-05 249th Street Unit: 2 in Little Neck, NY 11363. Nearby destinations include H Mart, J-Mart, supermarkets, restaurants, and shopping. Little Neck LIRR Station is also close by, providing rail access for regional commuting. The surrounding school district is identified as a notable property consideration.
Key Highlights
- Legal two‑family detached property
- Approximately 1,796 SF of living space
- Four bedrooms and 2.5 bathrooms
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.0k | $46.20 |
| − Vacancy | −$3.2k | −$1.76 |
| EGI | $79.8k | $44.44 |
| − OpEx | −$35.9k | −$20.00 |
| NOI | $43.9k | $24.44 |
1,796 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$627.2K
$548.8K – $731.7K
NOI $43,902 @ 7.0% cap · market cap 3.18%
Second Best
Multifamily LT 5
$424.7K
$371.6K – $495.5K
NOI $29,727 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,682 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Legal residential property with a full basement, private garage, and access to nearby shopping and rail service.
Where is this duplex located?
The property is located at 42-05 249th Street Unit 2 Little Neck, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Legal two‑family detached property; Approximately 1,796 SF of living space; Four bedrooms and 2.5 bathrooms
