Two-Family Residential Income
43-11 56th Street Queens, NY 11377
43-11 56th Street, Queens, NY, 11377
$1,388,888
For Sale
$1,388,888
A well-maintained 2-family frame home with two 2-bedroom, 1-bath apartments and a full basement on a 20' x 100' lot.
Property Size2,048 SF
Lot Size0.05 Acres
Price / SF$678.17
Days on Market41
Property Features for 43-11 56th Street
General Information
- Standard status
- Active
- Size
- 2,048 SF
- Lot size
- 0.05 Acres
- Property subtype
- Duplex
Building Details
- Year Built
- 1930
Listing agency
Douglas Elliman Real Estate
(516) 746-0440
Listed by
Ricardo D. Mendez · License #10301214562
(516) 746-0440
Source
Compass
Added: Jun 11 Updated: Jul 21 at 3:45PM Checked: Jul 21 at 3:45PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This well-maintained two-family frame house was built in 1930 and offers classic residential character with two separate apartments. Each unit features 2 bedrooms and 1 bathroom, providing flexible living arrangements for multi-generational use or owner-occupancy with rental income. The property includes a full basement, and the exterior features light-colored siding, a dark shingled roof, and prominent front gabled dormers.
Located on a quiet, tree-lined residential block in Queens Community District 2, the home is within walking distance of the 7 Train and the Woodside LIRR station. The area is described as highly walkable, with strong access to dining, shopping, parks, schools, supermarkets, and everyday conveniences.
The property consists of a two-family layout with generous windows throughout and an inviting front porch with brick steps and mature landscaping.
Located on a quiet, tree-lined residential block in Queens Community District 2, the home is within walking distance of the 7 Train and the Woodside LIRR station. The area is described as highly walkable, with strong access to dining, shopping, parks, schools, supermarkets, and everyday conveniences.
The property consists of a two-family layout with generous windows throughout and an inviting front porch with brick steps and mature landscaping.
Key Highlights
- Well‑maintained two‑family frame home built in 1930 with classic exterior light‑colored siding and a dark shingled roof
- Two apartments, each with 2 bedrooms and 1 bathroom
- Approximately 2,048 sq ft of living space across a 20' x 100' lot
Local 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 | $94.6k | $46.20 |
| − Vacancy | −$3.6k | −$1.76 |
| EGI | $91.0k | $44.44 |
| − OpEx | −$41.0k | −$20.00 |
| NOI | $50.1k | $24.44 |
2,048 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$715.2K
$625.8K – $834.4K
NOI $50,062 @ 7.0% cap · market cap 3.60%
Second Best
Multifamily LT 5
$484.3K
$423.7K – $565.0K
NOI $33,898 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,687 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - A well-maintained 2-family frame home with two 2-bedroom, 1-bath apartments and a full basement on a 20' x 100' lot.
Where is this duplex located?
The property is located at 43-11 56th Street Queens, NY.
What is the asking price?
The asking price for this property is $1,388,888.
What are key features of this property?
This property features: Well‑maintained two‑family frame home built in 1930 with classic exterior light‑colored siding and a dark shingled roof; Two apartments, each with 2 bedrooms and 1 bathroom; Approximately 2,048 sq ft of living space across a 20' x 100' lot
