Duplex with Finished
For Sale
$799,998
442 Cedar Street, Uniondale, NY 11553
Legal two-family property with separate entrances, a finished basement, and a recently updated kitchen.
Property Size1,389 SF
Days on Market9
Property Features for 442 Cedar Street
General Information
Standard status
Active
Size
1,389 SF
Property subtype
Residential Income
Units
Unit Mix
2 bedrooms, 3 bedrooms
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,522
Amenities
back porch
new PVC fence
finished basement
spacious yard
Building Details
Building Size
1,389 SF
Year Built
1921
Buildings
1
Units
2
Listing Agency:
EXIT Realty Premier
(516) 641-0754
Listed By:
Anna Beigelman
(516) 641-0754
Source:
Mahlerrealty
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 EXIT Realty Premier
Investment Insights
Based on property information with market context.
This legal two-family residence at 442 Cedar Street includes a two-bedroom upper unit and a three-bedroom lower unit. The finished basement has its own entrance, while the property also provides a two-car garage, extended driveway, rear porch, and a spacious yard. A PVC privacy fence and a newer kitchen in the three-bedroom unit add practical updates.
Built in 1921, the home is positioned on a tree-lined block in Uniondale, New York. The property will be delivered vacant at closing, allowing the next owner to take possession without an existing occupancy arrangement.
Built in 1921, the home is positioned on a tree-lined block in Uniondale, New York. The property will be delivered vacant at closing, allowing the next owner to take possession without an existing occupancy arrangement.
Key Highlights
- Legal two‑family configuration with 2‑bedroom and 3‑bedroom units
- Full finished basement with a separate entrance
- Two‑car garage, long driveway, and spacious yard
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
$26,462
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
3.31%
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%
$529,240
$529.2K
Cap Rate 7%
$378,029
$378.0K
Cap Rate 9%
$294,022
$294.0K
Market Conditions
NOI Build-Up for 1,389 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
$40.0K $28.80/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$37.8K $27.22/SF
− OpEx
−$11.3K −$8.16/SF
NOI
$26.5K $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 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%
$529,240
Cap Rate 7%
$378,029
Cap Rate 9%
$294,022
Alternative Uses
Best Use
Multifamily LT 5
$378.0K
$330.8K – $441.0K
NOI $26,462 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$353.9K
$309.7K – $412.9K
NOI $24,776 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$918.4K
$803.6K – $1.07M
NOI $64,286 @ 7.0% cap · market cap 8.04%
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
1,305
Businesses Nearby
Explore this area
Business Placement
Demographics for 11553, NY
26,929
Population
7,365
Households
3.7
Avg Household Size
36
Median Age
22%
College-Educated
82%
High-School Grad
3.2 sq mi
ZIP Area
8,415
Density / Sq Mi
$105,994
Median Household Income
$41,564
Median Earnings
$2,122
Median Rent
$486,100
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 - Legal two-family property with separate entrances, a finished basement, and a recently updated kitchen.
Where is this duplex located?
The property is located at 442 Cedar Street Uniondale, NY.
What is the asking price?
The asking price for this property is $799,998.
What are key features of this property?
This property features: Legal two‑family configuration with 2‑bedroom and 3‑bedroom units; Full finished basement with a separate entrance; Two‑car garage, long driveway, and spacious yard
