Detached Brick Triplex
New
For Sale
$2,448,800
4647 204th Street, Bayside, NY 11361
Residential Income, Bayside, NY
Property Size5,600 SF
Lot Size0.11 Acres
Price / SF$437.29
Days on Market1
Property Features for 4647 204th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
10
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 1, Bedroom 4, Bedroom 9, Basement, Bathroom 6, Bathroom 1, Bedroom 5, Bathroom 4, Bathroom 7, Bedroom 7, Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 10, Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 5
Parking features
Parking Lot, Garage
Interior features
First Floor Bedroom, First Floor Full Bath, Kitchen Island, Open Floorplan, Open Kitchen
Basement
Finished
Elementary school
Ps 162 John Golden
Middle school
Ms 158 Marie Curie
High school
Francis Lewis High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Standard status
Active
APN
07317-0001
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14700
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Cooling system
Multi Units
Water source
Public
Building Details
Year built
2002
Number of units
3
Building materials
Brick
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Ding Yu
(516) 888-8889
Added: Aug 24
Last Checked: Aug 24 at 7:06PM
MLS# 1042342
Copyright © 2026 OneKey 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 detached brick triplex property occupies a corner lot in Bayside and offers nearly 5,600 SF across four levels. The interior includes hardwood flooring, a first-floor bedroom and full bath, an open kitchen with island, and finished basement and attic areas. Baseboard heating runs on natural gas, while cooling is provided by multiple units. Garage and parking-lot spaces are included.
The property has a 130' * 41' lot with three-sided street frontage. It is served by public water and public sewer, with natural gas available. The Bayside School District 26 area includes nearby shopping, parks, schools, and bus lines, while Flushing Main Street is approximately 15 minutes away. Professional use is identified as subject to approvals.
The property has a 130' * 41' lot with three-sided street frontage. It is served by public water and public sewer, with natural gas available. The Bayside School District 26 area includes nearby shopping, parks, schools, and bus lines, while Flushing Main Street is approximately 15 minutes away. Professional use is identified as subject to approvals.
Key Highlights
- Nearly 5,600 SF of living space across four levels
- 130' * 41' corner lot with three‑sided street frontage
- Detached all‑brick construction
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
$136,889
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
5.59%
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%
$2,737,780
$2.7M
Cap Rate 7%
$1,955,557
$2.0M
Cap Rate 9%
$1,520,989
$1.5M
Market Conditions
NOI Build-Up for 5,600 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
$258.7K $46.20/SF
− Vacancy
−$9.8K −$1.76/SF
EGI
$248.9K $44.44/SF
− OpEx
−$112.0K −$20.00/SF
NOI
$136.9K $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%
$2,737,780
Cap Rate 7%
$1,955,557
Cap Rate 9%
$1,520,989
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,889 @ 7.0% cap · market cap 5.59%
Second Best
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,689 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $288,987 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,390
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?
Triplex - Four-level detached building with hardwood flooring, natural-gas heating, public water and sewer, garage, and parking lot.
Where is this triplex located?
The property is located at 4647 204th Street Bayside, NY.
What is the asking price?
The asking price for this property is $2,448,800.
What are key features of this property?
This property features: Nearly 5,600 SF of living space across four levels; 130' * 41' corner lot with three‑sided street frontage; Detached all‑brick construction
