Brick Duplex With Private
For Sale
$1,499,900
5811 183rd Street, Flushing, NY 11365
Two-family income property with a renovated lower residence, balcony, and access to three dedicated parking spaces.
Property Size2,830 SF
Lot Size0.03 Acres
Price / SF$530
Days on Market76
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
Building Details
Building Size
2,830 SF
Year Built
2011
Stories
2
Construction
all brick
Listing Agency:
Tiger Realty
Listed By:
Feifei Lin · License #FL5171
(917) 708-9966
Source:
Excellchoicerealty
Added: Jul 6
Changed: Sep 18
Last Checked: Sep 18 at 2:21PM
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.
Located at 5811 183rd Street in Flushing, this brick duplex was built in 2011 and offers 2,830 square feet of total living area. The lower residence includes two bedrooms, 2.5 bathrooms, an open kitchen, family room, laundry room, and walk-in level. The upper unit extends across the second and third floors with three bedrooms, two bathrooms, high ceilings, abundant natural light, and a large balcony. The property is currently occupied by tenants and is zoned R3-1.
The 20 × 65.5-foot lot includes three private parking spaces, while the building measures 20 × 56.5 feet. Nearby education includes P.S. 173, M.S. 216 George J. Ryan, and Francis Lewis High School, with St. John's University and Queens College also in the surrounding area. Shopping, dining, financial services, healthcare, entertainment, and public transportation are accessible nearby, including Q17, Q88, Q30, and Q31 bus routes to downtown Flushing.
The 20 × 65.5-foot lot includes three private parking spaces, while the building measures 20 × 56.5 feet. Nearby education includes P.S. 173, M.S. 216 George J. Ryan, and Francis Lewis High School, with St. John's University and Queens College also in the surrounding area. Shopping, dining, financial services, healthcare, entertainment, and public transportation are accessible nearby, including Q17, Q88, Q30, and Q31 bus routes to downtown Flushing.
Key Highlights
- 2,830 sq ft of total living area
- 20 × 65.5 ft lot with a 20 × 56.5 ft building
- Three private parking spaces
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
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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
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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 - Two-family income property with a renovated lower residence, balcony, and access to three dedicated 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 of total living area; 20 × 65.5 ft lot with a 20 × 56.5 ft building; Three private parking spaces
