Stucco Duplex With Two-Car
For Sale
$839,000
51 Bellmore Street, Floral Park, NY 11001
Separate utility metering supports distinct residential units with basement storage and laundry.
Property Size1,576 SF
Days on Market84
Property Features for 51 Bellmore Street
General Information
Standard status
Active
Size
1,576 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,824
Building Details
Building Size
1,576 SF
Year Built
1925
Buildings
1
Units
2
Construction
stucco
Listing Agency:
Realty Connect USA LLC
(516) 714-3606
Listed By:
Sandra Lukan-Shaw · License #40LU0889669
(516) 946-5703
Source:
Maurafinnegan
Added: Jun 18
Changed: Sep 8
Last Checked: Sep 7 at 1:41PM
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 Realty Connect USA LLC
Investment Insights
Based on property information with market context.
This legal two-family stucco residence contains one one-bedroom unit on each of its two levels. The lower apartment includes a living room, sitting room, eat-in kitchen, and hardwood floors, along with interior access to a full basement providing storage space and laundry facilities. The upper apartment offers a living room, bedroom, and eat-in kitchen.
Gas heating was installed four years ago, and the property has separate electric and gas meters for the two units. Exterior amenities include a backyard and a detached two-car garage. The home is located at 51 Bellmore St in Floral Park, on a tree-lined residential street.
Gas heating was installed four years ago, and the property has separate electric and gas meters for the two units. Exterior amenities include a backyard and a detached two-car garage. The home is located at 51 Bellmore St in Floral Park, on a tree-lined residential street.
Key Highlights
- Legal two‑family stucco residence with one one‑bedroom unit on each floor
- Lower unit includes living room, sitting room, eat‑in kitchen, and hardwood floors
- Full basement provides storage space and laundry facilities
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
$38,524
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
4.59%
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%
$770,480
$770.5K
Cap Rate 7%
$550,343
$550.3K
Cap Rate 9%
$428,044
$428.0K
Market Conditions
NOI Build-Up for 1,576 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
$72.8K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$70.0K $44.44/SF
− OpEx
−$31.5K −$20.00/SF
NOI
$38.5K $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%
$770,480
Cap Rate 7%
$550,343
Cap Rate 9%
$428,044
Alternative Uses
Best Use
Apartment 5plus
$550.3K
$481.6K – $642.1K
NOI $38,524 @ 7.0% cap · market cap 4.59%
Second Best
Multifamily LT 5
$372.6K
$326.1K – $434.8K
NOI $26,085 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,329 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
Explore this area
Business Placement
Demographics for 11001, NY
27,662
Population
8,923
Households
3.1
Avg Household Size
43
Median Age
53%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
12,574
Density / Sq Mi
$144,755
Median Household Income
$66,053
Median Earnings
$2,196
Median Rent
$714,600
Median Home Value
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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 utility metering supports distinct residential units with basement storage and laundry.
Where is this duplex located?
The property is located at 51 Bellmore Street Floral Park, NY.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: Legal two‑family stucco residence with one one‑bedroom unit on each floor; Lower unit includes living room, sitting room, eat‑in kitchen, and hardwood floors; Full basement provides storage space and laundry facilities
