Two-Family Residence with Full
For Sale
$1,388,888
4311 56th Street, Woodside, NY 11377
MULTI_FAMILY - Woodside, NY
Property Size2,048 SF
Lot Size0.05 Acres
Price / SF$678.17
Days on Market52
Property Features for 4311 56th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Basement, Bedroom 4
Parking features
Driveway
Basement
Finished
Elementary school
Ps 171 Peter G Van Alst
Middle school
Is 141 Steinway (The)
High school
Long Island City High School
Elementary school district
Queens 30
Middle school district
Queens 30
High school district
Queens 30
Standard status
Active
APN
01329-0016
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8437
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1930
Number of units
2
Building materials
Frame
Listing Agency:
Douglas Elliman Real Estate
(516) 746-0440
Listed By:
Ricardo D. Mendez · License #10301214562
(718) 956-5000
Added: Jun 22
Changed: Aug 9
Last Checked: Aug 12 at 8:06PM
MLS# 1016901
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained two-family frame house was built in 1930 and features classic exterior character with light-colored siding, a dark shingled roof, and two prominent front gabled dormers. Inside, the property provides two spacious apartments, each configured with 2 bedrooms and 1 bathroom. The home also includes a full basement, offering additional usable storage and flexible space. The front porch is set with brick steps, and mature landscaping with neatly trimmed hedges adds to the curb appeal. Windows throughout support bright interior light.
Located on a quiet, tree-lined residential block in Woodside within Queens Community District 2, the home offers strong everyday walkability. Public transit access is nearby, with the 7 Train listed at approximately 0.16 miles and the Woodside LIRR station within walking distance. The area is described as close to dining, shopping, parks, and daily conveniences, with access to schools including P.S. 11.
The layout suits tenants seeking a straightforward two-unit setup, whether for owner-occupancy with a rental unit or for an investor looking to acquire a well-kept residential income property. With two separate 2-bedroom, 1-bath apartments in a single structure and a full basement for added functionality, the home offers practical flexibility for multiple household needs.
Located on a quiet, tree-lined residential block in Woodside within Queens Community District 2, the home offers strong everyday walkability. Public transit access is nearby, with the 7 Train listed at approximately 0.16 miles and the Woodside LIRR station within walking distance. The area is described as close to dining, shopping, parks, and daily conveniences, with access to schools including P.S. 11.
The layout suits tenants seeking a straightforward two-unit setup, whether for owner-occupancy with a rental unit or for an investor looking to acquire a well-kept residential income property. With two separate 2-bedroom, 1-bath apartments in a single structure and a full basement for added functionality, the home offers practical flexibility for multiple household needs.
Key Highlights
- Two‑family frame home built in 1930 with approximately 2,048 sq ft of living space
- Layout offers 2 apartments, each with 2 bedrooms and 1 bathroom
- 20' x 100' lot with light‑colored siding, dark shingled roof, and two front gabled dormers
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
$50,062
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
3.60%
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%
$1,001,240
$1.0M
Cap Rate 7%
$715,171
$715.2K
Cap Rate 9%
$556,244
$556.2K
Market Conditions
NOI Build-Up for 2,048 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
$94.6K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.0K $44.44/SF
− OpEx
−$41.0K −$20.00/SF
NOI
$50.1K $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%
$1,001,240
Cap Rate 7%
$715,171
Cap Rate 9%
$556,244
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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 - Well-maintained two-unit home offering two 2-bedroom, 1-bath apartments just blocks from transit in Woodside, Queens.
Where is this duplex located?
The property is located at 4311 56th Street Woodside, 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: Two‑family frame home built in 1930 with approximately 2,048 sq ft of living space; Layout offers 2 apartments, each with 2 bedrooms and 1 bathroom; 20' x 100' lot with light‑colored siding, dark shingled roof, and two front gabled dormers
