Detached Duplex with Two-Car
For Sale
$1,688,000
45-14 164th Street, Flushing, NY 11358
Two three-bedroom units offer separate living spaces, updated bathrooms, and flexible washer and dryer hookups.
Property Size2,000 SF
Lot Size0.07 Acres
Days on Market10
Property Features for 45-14 164th Street
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
5
Lot size
0.07 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,010
Amenities
home office space
finished basement
wine cellar
Building Details
Building Size
2,000 SF
Year Built
1925
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
(917) 640-3086
Listed By:
Lenuta Mocanu
Source:
Cottiemaxwellrealestate
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 22 at 9:27AM
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.
This detached duplex, built in 1925, contains two three-bedroom, one-bathroom units arranged over two levels. The first-floor residence includes hardwood flooring, a living room, formal dining room, and eat-in kitchen with original wood cabinetry and a dishwasher. The upper unit has a larger layout with an oversized living room, formal dining area, updated bathroom, carpeting, and a dedicated office. A finished basement adds recreational space and includes a separate cellar room.
The property sits on a 3,000-square-foot lot with a private driveway accommodating three vehicles and a detached two-car garage. Updated furnaces, new oil tanks, separate electrical panels, and individual gas meters support the building’s mechanical and utility configuration. Located in Flushing near shopping, public transportation, schools, and dining.
The property sits on a 3,000-square-foot lot with a private driveway accommodating three vehicles and a detached two-car garage. Updated furnaces, new oil tanks, separate electrical panels, and individual gas meters support the building’s mechanical and utility configuration. Located in Flushing near shopping, public transportation, schools, and dining.
Key Highlights
- Two‑unit layout with 3 bedroom/1 bathroom residences
- 3,000‑square‑foot lot in Flushing
- Private driveway accommodates three vehicles
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
$48,889
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
2.90%
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%
$977,780
$977.8K
Cap Rate 7%
$698,414
$698.4K
Cap Rate 9%
$543,211
$543.2K
Market Conditions
NOI Build-Up for 2,000 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
$92.4K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.9K $44.44/SF
− OpEx
−$40.0K −$20.00/SF
NOI
$48.9K $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%
$977,780
Cap Rate 7%
$698,414
Cap Rate 9%
$543,211
Alternative Uses
Best Use
Apartment 5plus
$698.4K
$611.1K – $814.8K
NOI $48,889 @ 7.0% cap · market cap 2.90%
Second Best
Multifamily LT 5
$472.9K
$413.8K – $551.7K
NOI $33,103 @ 7.0% cap · market cap 1.96%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 6.11%
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
765
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 three-bedroom units offer separate living spaces, updated bathrooms, and flexible washer and dryer hookups.
Where is this duplex located?
The property is located at 45-14 164th Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: Two‑unit layout with 3 bedroom/1 bathroom residences; 3,000‑square‑foot lot in Flushing; Private driveway accommodates three vehicles
