New Construction Two-Family
New
For Sale
$2,888,000
43-43 189th Street, Flushing, NY 11358
Two separate residences feature expansive layouts, premium finishes, private outdoor space, and a detached garage.
Property Size3,600 SF
Lot Size0.09 Acres
Days on Market6
Property Features for 43-43 189th Street
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.09 Acres
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/4.5BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,000
Amenities
balconies
central heating and air conditioning
private driveway
detached garage
finished basement
walk-up attic
Building Details
Building Size
3,600 SF
Year Built
2026
Buildings
1
Listing Agency:
Prime Realty
Listed By:
Shirley Y. Chen
(917) 254-0248
Source:
Barbieliteam
Added: Sep 14
Changed: Sep 18
Last Checked: Sep 18 at 11:54AM
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 Prime Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this two-family duplex at 43-43 189th Street presents a 7-bedroom, 7.5-bathroom configuration across two residences. The front unit spans two levels with an open kitchen, dining, and living area, a first-floor half bath, four bedrooms, four full bathrooms, three en-suite bedrooms, and three balconies. The rear unit includes a kitchen, living and dining area, three bedrooms, two full bathrooms, and a rear balcony.
The approximately 40 x 101.92 lot includes a 26 x 62 building, private driveway, and detached garage. Additional space is provided by a finished basement with a separate entrance, high ceilings, multiple windows, full bathroom, laundry room, and utility room, along with a walk-up attic. Interior features include custom cabinetry, premium appliances, marble countertops, hardwood floors, oversized windows, and central heating and air conditioning. The property is near Northern Boulevard, LIRR, shopping, supermarkets, restaurants, and transportation.
The approximately 40 x 101.92 lot includes a 26 x 62 building, private driveway, and detached garage. Additional space is provided by a finished basement with a separate entrance, high ceilings, multiple windows, full bathroom, laundry room, and utility room, along with a walk-up attic. Interior features include custom cabinetry, premium appliances, marble countertops, hardwood floors, oversized windows, and central heating and air conditioning. The property is near Northern Boulevard, LIRR, shopping, supermarkets, restaurants, and transportation.
Key Highlights
- Brand‑new 2026 two‑family residence with 7 bedrooms and 7.5 bathrooms
- Approximately 40 x 101.92 lot with a 26 x 62 building
- Front unit includes 4 bedrooms, 4 full bathrooms, 3 en‑suite bedrooms, and 3 balconies
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
$88,000
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
3.05%
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%
$1,760,000
$1.8M
Cap Rate 7%
$1,257,143
$1.3M
Cap Rate 9%
$977,778
$977.8K
Market Conditions
NOI Build-Up for 3,600 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
$166.3K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$160.0K $44.44/SF
− OpEx
−$72.0K −$20.00/SF
NOI
$88.0K $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%
$1,760,000
Cap Rate 7%
$1,257,143
Cap Rate 9%
$977,778
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 3.05%
Second Best
Multifamily LT 5
$851.2K
$744.8K – $993.1K
NOI $59,586 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
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 separate residences feature expansive layouts, premium finishes, private outdoor space, and a detached garage.
Where is this duplex located?
The property is located at 43-43 189th Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,888,000.
What are key features of this property?
This property features: Brand‑new 2026 two‑family residence with 7 bedrooms and 7.5 bathrooms; Approximately 40 x 101.92 lot with a 26 x 62 building; Front unit includes 4 bedrooms, 4 full bathrooms, 3 en‑suite bedrooms, and 3 balconies
