Two-Unit Frame Home with
For Sale
$1,388,888
4313 56th Street, Woodside, NY 11377
Well-maintained residential income property with two apartments, front porch, mature landscaping, and convenient rail access.
Property Size2,048 SF
Lot Size0.05 Acres
Price / SF$678.17
Days on Market67
Property Features for 4313 56th Street
General Information
Standard status
Active
Size
2,048 SF
Lot size
0.05 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,871
Amenities
front porch
full basement
Building Details
Building Size
2,048 SF
Year Built
1930
Buildings
1
Units
2
Construction
frame
Listing Agency:
Douglas Elliman Real Estate
(718) 956-5000
Listed By:
Ricardo D. Mendez · License #10301214562
(718) 956-5000
Source:
Millenniumhomes
Added: Jun 26
Changed: Aug 30
Last Checked: Aug 30 at 6:28PM
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.
Located at 4313 56th Street in Woodside, this two-family frame residence was built in 1930 and contains approximately 2,048 square feet of living space. The property includes two apartments, each configured with 2 bedrooms and 1 bathroom, along with a full basement. Exterior details include light-colored siding, a dark shingled roof, front gabled dormers, a covered porch with brick steps, mature hedges, and generously sized windows.
The home occupies a 20' x 100' lot in Queens Community District 2, on a tree-lined residential block near dining, shopping, parks, supermarkets, schools, and other daily conveniences. The 7 Train is approximately 0.16 miles away, while Woodside LIRR station provides rail service toward Manhattan, Long Island City, and surrounding areas. Walk Score 94 and Transit Score 100 further describe the property's pedestrian and transit-oriented setting.
The home occupies a 20' x 100' lot in Queens Community District 2, on a tree-lined residential block near dining, shopping, parks, supermarkets, schools, and other daily conveniences. The 7 Train is approximately 0.16 miles away, while Woodside LIRR station provides rail service toward Manhattan, Long Island City, and surrounding areas. Walk Score 94 and Transit Score 100 further describe the property's pedestrian and transit-oriented setting.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- Approximately 2,048 square feet of living space
- Built in 1930 on a 20' x 100' lot
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
3,730
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 residential income property with two apartments, front porch, mature landscaping, and convenient rail access.
Where is this duplex located?
The property is located at 4313 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 apartments, each with 2 bedrooms and 1 bathroom; Approximately 2,048 square feet of living space; Built in 1930 on a 20' x 100' lot
