Detached Two-Family Brick
New
For Sale
$2,448,800
4647 204th Street, Bayside, NY 11361
Four-level residence with finished basement and attic, hardwood flooring, and abundant natural light.
Property Size3,200 SF
Lot Size0.12 Acres
Price / SF$437.29
Days on Market6
Property Features for 4647 204th Street
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.12 Acres
Property subtype
Triplex
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,700
Building Details
Building Size
3,200 SF
Year Built
2002
Buildings
1
Stories
4
Construction
all-brick
Listing Agency:
B Square Realty
(516) 888-8890
Listed By:
Ding Yu
Source:
Cottiemaxwellrealestate
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 26 at 9:05AM
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 B Square Realty
Investment Insights
Based on property information with market context.
This freestanding duplex has a brick exterior, four levels, and nearly 5,600 square feet of living space. The layout includes a finished basement and attic, with hardwood flooring extending throughout those areas. Six full bathrooms serve the residence, and the foundation was engineered with DOB approval. The property occupies a 130' x 41' corner lot with street exposure on three sides.
The residence is situated within Bayside School District 26 and near shopping, parks, schools, and bus lines. Flushing Main Street is approximately 15 minutes away. Professional use may be considered subject to the required approvals.
The residence is situated within Bayside School District 26 and near shopping, parks, schools, and bus lines. Flushing Main Street is approximately 15 minutes away. Professional use may be considered subject to the required approvals.
Key Highlights
- Nearly 5,600 SF of living space across four levels
- Detached two‑family residence with all‑brick construction
- 130' x 41' corner lot with three‑sided street frontage
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?
Duplex - Four-level residence with finished basement and attic, hardwood flooring, and abundant natural light.
Where is this duplex 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; Detached two‑family residence with all‑brick construction; 130' x 41' corner lot with three‑sided street frontage
