Renovated Brick
For Sale
$1,680,000
45-14 215th Pl, Bayside, NY 11361
Residential Income, Bayside, NY
Property Size1,930 SF
Lot Size0.05 Acres
Price / SF$870.47
Days on Market69
Property Features for 45-14 215th Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1
Patio and Porch features
Deck
Subdivision
Flushing
Standard status
Active
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10569
Utilities
Heating system
Natural Gas
Building Details
Year built
1930
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Jenny Hong
(917) 974-0992
Added: Jun 24
Changed: Aug 26
Last Checked: Aug 31 at 9:06AM
MLS# 11850544
Copyright © 2026 My State 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 brick two-family duplex offers approximately 1,930 square feet of living space and was expanded and renovated in 2018. The first-floor residence includes two bedrooms, two full bathrooms, a living and dining area, and a kitchen. The second-floor residence provides three bedrooms, two full bathrooms, a living room, dining room, and kitchen. Hardwood flooring, natural-gas heating, and a deck are included among the property features.
A full finished basement adds another bathroom and has its own separate entrance. The 1930-built property sits on a 0.0463-acre lot and is located near shops, restaurants, parks, and schools. Bus service includes the Q12, Q13, Q27, Q31, and N20 routes, with the Bayside LIRR station also nearby.
A full finished basement adds another bathroom and has its own separate entrance. The 1930-built property sits on a 0.0463-acre lot and is located near shops, restaurants, parks, and schools. Bus service includes the Q12, Q13, Q27, Q31, and N20 routes, with the Bayside LIRR station also nearby.
Key Highlights
- Two‑family brick residence at 45‑14 215th Pl, Bayside, NY 11361
- Approximately 1,930 sq ft of living space
- Expanded and renovated in 2018
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
$47,178
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
2.81%
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%
$943,560
$943.6K
Cap Rate 7%
$673,971
$674.0K
Cap Rate 9%
$524,200
$524.2K
Market Conditions
NOI Build-Up for 1,930 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
$89.2K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$85.8K $44.44/SF
− OpEx
−$38.6K −$20.00/SF
NOI
$47.2K $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%
$943,560
Cap Rate 7%
$673,971
Cap Rate 9%
$524,200
Alternative Uses
Best Use
Apartment 5plus
$674.0K
$589.7K – $786.3K
NOI $47,178 @ 7.0% cap · market cap 2.81%
Second Best
Multifamily LT 5
$456.4K
$399.3K – $532.4K
NOI $31,945 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,597 @ 7.0% cap · market cap 5.93%
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
2,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
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 residential units include separate kitchens, living areas, and bedrooms, with additional finished basement space.
Where is this duplex located?
The property is located at 45-14 215th Pl Bayside, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Two‑family brick residence at 45‑14 215th Pl, Bayside, NY 11361; Approximately 1,930 sq ft of living space; Expanded and renovated in 2018
