Rebuilt Two-Family
For Sale
$1,249,999
46-15 30th Road, Astoria, NY 11103
Legal two-unit residence with a finished lower level and separate heating and utility systems.
Property Size2,642 SF
Lot Size0.04 Acres
Price / SF$473.13
Days on Market48
Property Features for 46-15 30th Road
General Information
Standard status
Active
Size
2,642 SF
Lot size
0.04 Acres
Property subtype
Residential Income
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,409
Building Details
Building Size
2,642 SF
Year Built
1901
Year Renovated
2014
Buildings
1
Stories
3
Units
2
Listing Agency:
Compass Greater NY LLC
(718) 423-7700
Listed By:
Jessica A. Akde Elmazi MRP CPM CBR
(718) 423-7700
Source:
Nextlevelrealestateny
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 25 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 Compass Greater NY LLC
Investment Insights
Based on property information with market context.
Rebuilt and converted in 2014, this legal two-family property contains 2,642 square feet of livable space on a 17x101 lot with a sizable yard. Each apartment offers two bedrooms and one bathroom. The first-floor unit includes approximately ten-foot ceilings, an updated kitchen and bathroom, balcony access to the yard, and direct access to the finished lower level. The second-floor apartment has approximately eight-foot ceilings, updated kitchen and bathroom finishes, and will be delivered vacant.
The finished basement features ceramic tile, a half-bathroom, high ceilings, and washer-and-dryer space. It is accessible from the front, rear, and first-floor unit, with potential to connect it to the first-floor apartment. The property has two gas meters, separate boilers and hot water tanks for each unit, and three electric meters. The roof, electrical infrastructure, and hot water tanks were replaced during the rebuild. Transit access includes the Q-18 bus stop and the 46th Street R/M subway stop, with shopping and cultural destinations near Steinway Street, 34th Avenue, and Northern Boulevard.
The finished basement features ceramic tile, a half-bathroom, high ceilings, and washer-and-dryer space. It is accessible from the front, rear, and first-floor unit, with potential to connect it to the first-floor apartment. The property has two gas meters, separate boilers and hot water tanks for each unit, and three electric meters. The roof, electrical infrastructure, and hot water tanks were replaced during the rebuild. Transit access includes the Q-18 bus stop and the 46th Street R/M subway stop, with shopping and cultural destinations near Steinway Street, 34th Avenue, and Northern Boulevard.
Key Highlights
- 2014 conversion into a legal two‑family dwelling
- 2,642 square feet of livable space on a 17x101 lot
- Two apartments, each with 2 bedrooms and 1 bathroom
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
$64,582
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
5.17%
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%
$1,291,640
$1.3M
Cap Rate 7%
$922,600
$922.6K
Cap Rate 9%
$717,578
$717.6K
Market Conditions
NOI Build-Up for 2,642 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
$122.1K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$117.4K $44.44/SF
− OpEx
−$52.8K −$20.00/SF
NOI
$64.6K $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%
$1,291,640
Cap Rate 7%
$922,600
Cap Rate 9%
$717,578
Alternative Uses
Best Use
Apartment 5plus
$922.6K
$807.3K – $1.08M
NOI $64,582 @ 7.0% cap · market cap 5.17%
Second Best
Multifamily LT 5
$624.7K
$546.6K – $728.8K
NOI $43,729 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,340 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,429
Businesses Nearby
Explore this area
Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
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-unit residence with a finished lower level and separate heating and utility systems.
Where is this duplex located?
The property is located at 46-15 30th Road Astoria, NY.
What is the asking price?
The asking price for this property is $1,249,999.
What are key features of this property?
This property features: 2014 conversion into a legal two‑family dwelling; 2,642 square feet of livable space on a 17x101 lot; Two apartments, each with 2 bedrooms and 1 bathroom
