Duplex with Separate
New
For Sale
$1,089,000
5 Franklin Avenue, Glen Cove, NY 11542
Residential Income, Glen Cove, NY
Property Size2,295 SF
Lot Size0.21 Acres
Price / SF$474.51
Days on Market4
Property Features for 5 Franklin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Dining Room, Basement, Bathroom 1, Bedroom 3
Parking
4
Parking features
Off Street
Patio and Porch features
Porch
Interior features
First Floor Bedroom, Ceiling Fan(s), Eat-in Kitchen, Formal Dining, Granite Counters, Master Downstairs, Washer/Dryer Hookup
Exterior features
Garden
Fencing
Fenced
Fireplace
1
Basement
Partially Finished
Elementary school
Connolly School
Middle school
Robert M Finley Middle School
High school
Glen Cove High School
Elementary school district
Glen Cove
Middle school district
Glen Cove
High school district
Glen Cove
Standard status
Active
APN
0600-23-012-00-0001-0
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14393
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Oil
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
freestanding gas fireplace
private backyard
front porch
washer/dryer
Building Details
Year built
1922
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Jennifer Nyx SRES
(631) 813-6100
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 26 at 8:06PM
MLS# 1053759
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 legal two-family property contains 5 bedrooms, 2 full bathrooms, and 13 rooms across more than 2,295 square feet of finished living space. The main unit has three bedrooms, a kitchen, formal dining room, living room, and an office or den with a gas fireplace. The upper unit includes two bedrooms, a separate dining area, a living room, and an updated kitchen. Each residence has its own washer and dryer, and the upper unit opens from a front porch. A full stand-up attic and unfinished basement provide additional space. The property also includes a detached two-car garage and driveway parking.
Set on 0.2135 acres in Glen Cove, the home is approximately 1 mile from the Glen Cove Railroad and close to downtown shops, restaurants, services, and the public library. Built in 1922, it has public water and sewer, with natural gas heating on the main level and oil heating upstairs.
Set on 0.2135 acres in Glen Cove, the home is approximately 1 mile from the Glen Cove Railroad and close to downtown shops, restaurants, services, and the public library. Built in 1922, it has public water and sewer, with natural gas heating on the main level and oil heating upstairs.
Key Highlights
- Legal two‑family property with 5 bedrooms, 2 full bathrooms, and 13 rooms
- More than 2,295 square feet of finished living space
- Each unit has a separate entrance, kitchen, and washer and dryer
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
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
View Realmo Analytics
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 each have a private entrance and kitchen.
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: Legal two‑family property with 5 bedrooms, 2 full bathrooms, and 13 rooms; More than 2,295 square feet of finished living space; Each unit has a separate entrance, kitchen, and washer and dryer
