Legal Two-Family
50 Elgin Road Valley Stream, NY 11581
50 Elgin Road, Valley Stream, NY, 11581
$799,000
Pending
For Sale
$799,000
Pending
Two one-bedroom units with separate side entrance and basement provide storage and flexible live-or-rent options.
Property Size1,640 SF
Days on Market24
Property Features for 50 Elgin Road
General Information
- Standard status
- Pending
- Size
- 1,640 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1928
Listing agency
HomeSmart Premier Living Rlty
(516) 535-9692
Listed by
Julie Calabrese CBR
(516) 535-9692
Source
Compass
Added: Jun 30 Updated: Jul 22 at 7:49PM Checked: Jul 22 at 7:49PM
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 HomeSmart Premier Living Rlty
Investment Insights
Based on property information with market context.
This legal two-family home offers two separate one-bedroom layouts. The first-floor unit includes a spacious living room, an eat-in kitchen with access to the backyard, and a full basement with a separate side entrance for convenient storage and use. The second-floor unit features a one-bedroom layout with access to a large walk-up attic, which can support additional storage or future expansion with proper permits.
The property is located in the Gibson section of Valley Stream, approximately 0.3 miles from the Gibson LIRR Station and about 6 miles from JFK Airport. It also benefits from nearby parks, shopping, restaurants, schools, and major roadways.
For buyers seeking income-producing versatility, the existing duplex configuration provides two distinct residential units plus shared site features that can support day-to-day functionality.
The property is located in the Gibson section of Valley Stream, approximately 0.3 miles from the Gibson LIRR Station and about 6 miles from JFK Airport. It also benefits from nearby parks, shopping, restaurants, schools, and major roadways.
For buyers seeking income-producing versatility, the existing duplex configuration provides two distinct residential units plus shared site features that can support day-to-day functionality.
Key Highlights
- Legal 2‑family home with two 1‑bedroom units for live‑and‑rent or investment use
- First‑floor unit includes a large living room and eat‑in kitchen with access to the backyard
- Full basement offers storage and has separate side entrance access
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.2k | $28.80 |
| − Vacancy | −$2.6k | −$1.58 |
| EGI | $44.6k | $27.22 |
| − OpEx | −$13.4k | −$8.16 |
| NOI | $31.2k | $19.05 |
1,640 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$446.3K
$390.6K – $520.7K
NOI $31,244 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$417.9K
$365.7K – $487.6K
NOI $29,253 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$1.08M
$948.8K – $1.27M
NOI $75,903 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two one-bedroom units with separate side entrance and basement provide storage and flexible live-or-rent options.
Where is this duplex located?
The property is located at 50 Elgin Road Valley Stream, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Legal 2‑family home with two 1‑bedroom units for live‑and‑rent or investment use; First‑floor unit includes a large living room and eat‑in kitchen with access to the backyard; Full basement offers storage and has separate side entrance access
