All-Brick
For Sale
$1,499,900
5811 183rd Street, Flushing, NY 11365
Renovated first-floor residence with flexible two-level upper living space and three private parking spaces.
Property Size2,830 SF
Lot Size0.03 Acres
Price / SF$530
Days on Market56
Property Features for 5811 183rd Street
General Information
Standard status
Active
Size
2,830 SF
Total Parking Spaces
3
Lot size
0.03 Acres
Property subtype
Multi Family Home
Zoning
R3-1
Units
Unit Mix
1 x 2BR/2.5BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
balcony
laundry room
Building Details
Building Size
2,830 SF
Year Built
2011
Stories
2
Construction
brick
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Feifei Lin · License #FL5171
(917) 708-9966
Source:
Kirinny
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 25 at 9:22AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This 2011 semi-detached, all-brick two-family property contains 2,830 square feet of living area on a 20 × 65.5-foot lot, with a 20 × 56.5-foot building footprint. The first-floor unit includes two bedrooms, 2.5 bathrooms, an open kitchen, family room, laundry room, and walk-in area. The upper residence spans the second and third floors with three bedrooms and two bathrooms. High ceilings, substantial natural light, and a large balcony add to the upper-level layout. The first-floor unit has been recently renovated, and tenants currently occupy the property. Three private parking spaces are included, and the property is zoned R3-1.
Located at 5811 183rd Street in Flushing, the property is near P.S. 173, M.S. 216 George J. Ryan, and Francis Lewis High School. St. John's University, Queens College, retail, restaurants, services, and Q17, Q88, Q30, and Q31 bus routes are also nearby.
Located at 5811 183rd Street in Flushing, the property is near P.S. 173, M.S. 216 George J. Ryan, and Francis Lewis High School. St. John's University, Queens College, retail, restaurants, services, and Q17, Q88, Q30, and Q31 bus routes are also nearby.
Key Highlights
- 2,830 sq ft total living area
- 20 × 65.5 ft lot with a 20 × 56.5 ft building
- Two‑bedroom first‑floor unit with 2.5 bathrooms and walk‑in area
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
$69,178
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
4.61%
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%
$1,383,560
$1.4M
Cap Rate 7%
$988,257
$988.3K
Cap Rate 9%
$768,644
$768.6K
Market Conditions
NOI Build-Up for 2,830 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
$130.7K $46.20/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$125.8K $44.44/SF
− OpEx
−$56.6K −$20.00/SF
NOI
$69.2K $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%
$1,383,560
Cap Rate 7%
$988,257
Cap Rate 9%
$768,644
Alternative Uses
Best Use
Apartment 5plus
$988.3K
$864.7K – $1.15M
NOI $69,178 @ 7.0% cap · market cap 4.61%
Second Best
Multifamily LT 5
$669.2K
$585.5K – $780.7K
NOI $46,841 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$2.09M
$1.83M – $2.43M
NOI $146,042 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,252
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
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 - Renovated first-floor residence with flexible two-level upper living space and three private parking spaces.
Where is this duplex located?
The property is located at 5811 183rd Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: 2,830 sq ft total living area; 20 × 65.5 ft lot with a 20 × 56.5 ft building; Two‑bedroom first‑floor unit with 2.5 bathrooms and walk‑in area
