2-Unit Duplex with
For Sale
$1,089,000
5 Franklin Avenue, Glen Cove, NY 11542
Separate entrances, kitchens, and laundry facilities provide independent setups for both residences.
Property Size2,295 SF
Price / SF$474.51
Days on Market9
Property Features for 5 Franklin Avenue
General Information
Standard status
Active
Size
2,295 SF
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,393
Amenities
granite countertops
Energy Star appliances
gas fireplace
washer/dryer
private entrance
front porch
private backyard
garden landscaping
Building Details
Building Size
2,295 SF
Year Built
1922
Buildings
1
Listing Agency:
EXP Realty
Listed By:
Jennifer Nyx SRES
(719) 396-2885
Source:
Luxuryhomeny
Added: Sep 23
Changed: Sep 30
Last Checked: Oct 1 at 4:08PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This 1922 duplex is configured as two residences with separate private entrances. The main level contains three bedrooms, one full bathroom, an eat-in kitchen, formal dining room, living room, and an office or den with a freestanding gas fireplace. The upper residence has two bedrooms, one full bathroom, a refreshed kitchen, living and dining areas, and a front porch entry. Both kitchens have Energy Star appliances. A full stand-up attic and unfinished basement provide additional storage; laundry facilities are present on each level.
A detached two-car garage and driveway parking serve the property, which also has garden landscaping and a backyard. The Glen Cove Railroad is approximately 1 mile away, with the public library, downtown shops, restaurants, and services nearby.
A detached two-car garage and driveway parking serve the property, which also has garden landscaping and a backyard. The Glen Cove Railroad is approximately 1 mile away, with the public library, downtown shops, restaurants, and services nearby.
Key Highlights
- Two residences with separate private entrances
- Five bedrooms and two full bathrooms across 13 rooms
- Detached 2 car garage and driveway parking
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
$43,723
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
4.01%
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%
$874,460
$874.5K
Cap Rate 7%
$624,614
$624.6K
Cap Rate 9%
$485,811
$485.8K
Market Conditions
NOI Build-Up for 2,295 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
$66.1K $28.80/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$62.5K $27.22/SF
− OpEx
−$18.7K −$8.16/SF
NOI
$43.7K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$874,460
Cap Rate 7%
$624,614
Cap Rate 9%
$485,811
Alternative Uses
Best Use
Multifamily LT 5
$624.6K
$546.5K – $728.7K
NOI $43,723 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$584.8K
$511.7K – $682.3K
NOI $40,937 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,218 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances, kitchens, and laundry facilities provide independent setups for both residences.
Where is this duplex located?
The property is located at 5 Franklin Avenue Glen Cove, NY.
What is the asking price?
The asking price for this property is $1,089,000.
What are key features of this property?
This property features: Two residences with separate private entrances; Five bedrooms and two full bathrooms across 13 rooms; Detached 2 car garage and driveway parking
