Detached Two-Family
New
For Sale
$1,777,777
56-15 199th Street, Fresh Meadows, NY 11365
A three-level layout with a new roof offers flexibility for an owner-occupant or investor.
Property Size2,057 SF
Days on Market5
Property Features for 56-15 199th Street
General Information
Standard status
Active
Size
2,057 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,344
Building Details
Building Size
2,057 SF
Year Built
1945
Buildings
1
Stories
3
Construction
Detached
Listing Agency:
E Realty International Corp
Listed By:
Yujie Shi
(516) 439-6500
Source:
Cottiemaxwellrealestate
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 19 at 1:00PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This detached duplex is configured as a two-family home with three above-grade levels and a recently installed roof. Built in 1945, the property offers a multi-level residential layout suited to owner-occupancy or income-producing use.
The home is located near H-Mart, shopping, dining, and everyday conveniences. It is within School District 26 and benefits from access to transportation options. The property address is 56-15 199th Street, Fresh Meadows, NY 11365.
The home is located near H-Mart, shopping, dining, and everyday conveniences. It is within School District 26 and benefits from access to transportation options. The property address is 56-15 199th Street, Fresh Meadows, NY 11365.
Key Highlights
- Detached two‑family home with three above‑grade levels
- Brand‑new roof
- Built in 1945
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
$50,282
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
2.83%
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%
$1,005,640
$1.0M
Cap Rate 7%
$718,314
$718.3K
Cap Rate 9%
$558,689
$558.7K
Market Conditions
NOI Build-Up for 2,057 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
$95.0K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.4K $44.44/SF
− OpEx
−$41.1K −$20.00/SF
NOI
$50.3K $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%
$1,005,640
Cap Rate 7%
$718,314
Cap Rate 9%
$558,689
Alternative Uses
Best Use
Apartment 5plus
$718.3K
$628.5K – $838.0K
NOI $50,282 @ 7.0% cap · market cap 2.83%
Second Best
Multifamily LT 5
$486.4K
$425.6K – $567.5K
NOI $34,047 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,151 @ 7.0% cap · market cap 5.97%
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
1,514
Businesses Nearby
Explore this area
Business Placement
Demographics for 11365, NY
46,908
Population
16,626
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
2.5 sq mi
ZIP Area
18,763
Density / Sq Mi
$85,375
Median Household Income
$51,458
Median Earnings
$1,869
Median Rent
$911,800
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - A three-level layout with a new roof offers flexibility for an owner-occupant or investor.
Where is this duplex located?
The property is located at 56-15 199th Street Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $1,777,777.
What are key features of this property?
This property features: Detached two‑family home with three above‑grade levels; Brand‑new roof; Built in 1945
