Duplex with Shared
44 Corchaug Ave, Port Washington, NY 11050
For Sale
$1,179,000
Two matching apartments feature separate gas heating systems and shared basement laundry and storage.
Property Size1,984 SF
Price / SF$594.25
Days on Market81
Property Features for 44 Corchaug Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
gas heating
washer/dryer
storage space
backyard
Building Details
Year Built
Tenancy
Listing Agency:
Daniel Gale Sothebys Intl Rlty
Listed By:
Emi Shoga
(516) 883-2900
Source:
Searchhomesinlongisland
Added: Aug 21
Changed: Nov 8
Last Checked: Nov 8 at 7:19AM
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 Daniel Gale Sothebys Intl Rlty
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Investment Insights
Based on property information with market context.
Located at 44 Corchaug Ave in Port Washington, this 1,984-square-foot duplex was built in 1961 and contains two matching apartments. Each unit has 2 bedrooms and 1 bathroom, with its own gas heating system.
Residents share a basement area with a washer, dryer, and storage. The first-floor apartment also has direct basement access. The property includes 4 off-street parking spaces and a backyard shared by both households.
Residents share a basement area with a washer, dryer, and storage. The first-floor apartment also has direct basement access. The property includes 4 off-street parking spaces and a backyard shared by both households.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,984 square feet; built in 1961
- Separate gas heating systems for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,798
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$755,960
$756.0K
Cap Rate 7%
$539,971
$540.0K
Cap Rate 9%
$419,978
$420.0K
Market Conditions
NOI Build-Up for 1,984 SF
Gross rent
$57.1K $28.80/SF
− Vacancy
−$3.1K −$1.58/SF
EGI
$54.0K $27.22/SF
− OpEx
−$16.2K −$8.16/SF
NOI
$37.8K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$755,960
Cap Rate 7%
$539,971
Cap Rate 9%
$419,978
Alternative Uses
Best Use
Multifamily LT 5
$540.0K
$472.5K – $630.0K
NOI $37,798 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$505.6K
$442.4K – $589.8K
NOI $35,390 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,824 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
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Business Placement
Demographics for 11050, NY
31,512
Population
12,329
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
10.1 sq mi
ZIP Area
3,120
Density / Sq Mi
$153,819
Median Household Income
$78,132
Median Earnings
$2,454
Median Rent
$990,800
Median Home Value
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Market
Properties on Market for Duplexes in Nassau County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching apartments feature separate gas heating systems and shared basement laundry and storage.
Where is this duplex located?
The property is located at 44 Corchaug Ave Port Washington, NY.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,984 square feet; built in 1961; Separate gas heating systems for each apartment
