Two-Family Duplex with Detached
For Sale
$849,000
53 Watts Place, Lynbrook, NY 11563
Separate gas HVAC systems serve each residence, with a full basement and walk-up attic adding storage space.
Property Size1,501 SF
Price / SF$565.62
Days on Market39
Property Features for 53 Watts Place
General Information
Standard status
Active
Size
1,501 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$19,536
Amenities
front porch
washer/dryer
patio
First Floor Bedroom
Built-in Features
Ceiling Fan(s)
Formal Dining
Master Downstairs
Recessed Lighting
Storage
Washer/Dryer Hookup
Building Details
Building Size
1,501 SF
Year Built
1925
Buildings
1
Units
2
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Brian E. Lewis SRES
(917) 509-0506
Source:
Adamstreetrealty
Added: Sep 17
Changed: Oct 22
Last Checked: Oct 25 at 1:38AM
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
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Investment Insights
Based on property information with market context.
This legal two-family duplex contains 1,501 square feet and was built in 1925. The first-floor unit has one bedroom, a living room, formal dining room, and full bathroom; the dining room could be converted to a second bedroom. A full basement includes laundry and additional storage. Upstairs are two bedrooms, a full bathroom, and a walk-up attic. Each residence has its own updated gas HVAC system.
The property is in the Lynbrook school district and is minutes from two train stations, schools, and shopping. Outdoor features include a front porch, backyard patio, long driveway, and detached two-car garage.
The property is in the Lynbrook school district and is minutes from two train stations, schools, and shopping. Outdoor features include a front porch, backyard patio, long driveway, and detached two-car garage.
Key Highlights
- Legal two‑family property with separate residences
- First‑floor unit has one bedroom, with dining room that could convert to a second bedroom
- Second‑floor unit includes two bedrooms and a walk‑up attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,596
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,920
$571.9K
Cap Rate 7%
$408,514
$408.5K
Cap Rate 9%
$317,733
$317.7K
Market Conditions
NOI Build-Up for 1,501 SF
Gross rent
$43.2K $28.80/SF
− Vacancy
−$2.4K −$1.58/SF
EGI
$40.9K $27.22/SF
− OpEx
−$12.3K −$8.16/SF
NOI
$28.6K $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 Rate 5%
$571,920
Cap Rate 7%
$408,514
Cap Rate 9%
$317,733
Alternative Uses
Best Use
Multifamily LT 5
$408.5K
$357.5K – $476.6K
NOI $28,596 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$382.5K
$334.7K – $446.2K
NOI $26,774 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$992.4K
$868.4K – $1.16M
NOI $69,470 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,835
Businesses Nearby
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Business Placement
Demographics for 11563, NY
23,349
Population
8,088
Households
2.9
Avg Household Size
43
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
10,152
Density / Sq Mi
$138,006
Median Household Income
$65,565
Median Earnings
$2,173
Median Rent
$595,500
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas HVAC systems serve each residence, with a full basement and walk-up attic adding storage space.
Where is this duplex located?
The property is located at 53 Watts Place Lynbrook, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Legal two‑family property with separate residences; First‑floor unit has one bedroom, with dining room that could convert to a second bedroom; Second‑floor unit includes two bedrooms and a walk‑up attic
