Two-Family Brick House with
For Sale
$1,499,900
5811 183rd Street, Flushing, NY 11365
MULTI_FAMILY - Flushing, NY
Property Size2,830 SF
Lot Size0.03 Acres
Price / SF$530
Days on Market47
Property Features for 5811 183rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-1
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 5, Bedroom 3, Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 4
Interior features
Refrigerator, Stove
Subdivision
Fresh Meadows
Standard status
Active
Size
2,830 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
12666
Amenities
balcony
laundry room
Building Details
Year built
2011
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
FeiFei Lin · License #FCL4532
(917) 708-9966
Added: Jul 6
Changed: Aug 10
Last Checked: Aug 21 at 11:06PM
MLS# 502809
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Semi-detached all-brick two-family house with flat roof and private parking. The first floor with a walk-in features two bedrooms and 2.5 bathrooms, an open kitchen, a large family room, and a laundry room. The interior has been recently renovated and is presented in move-in condition, with hardwood and tile flooring throughout, along with included refrigerator and stove. The second-floor duplex includes three bedrooms and two bathrooms, with additional space on the third floor. High ceilings and abundant natural light carry through, and a large balcony adds outdoor living.
Built in 2011 and currently occupied by tenants, the property is designed for income generation while also supporting owner-occupancy. The lot size is 0.0301 acres, with building dimensions of 20 by 56.5 ft and a lot dimension of 20 by 65.5 ft. There are three private parking spaces available on site.
Zoned R3-1, the home is located in a sought-after school district, with nearby PS 173 and MS 216 listed as National Blue Ribbon Schools and Francis Lewis High School referenced as a well-known public high school in Queens.
Built in 2011 and currently occupied by tenants, the property is designed for income generation while also supporting owner-occupancy. The lot size is 0.0301 acres, with building dimensions of 20 by 56.5 ft and a lot dimension of 20 by 65.5 ft. There are three private parking spaces available on site.
Zoned R3-1, the home is located in a sought-after school district, with nearby PS 173 and MS 216 listed as National Blue Ribbon Schools and Francis Lewis High School referenced as a well-known public high school in Queens.
Key Highlights
- Zoned R3‑1 semi‑detached all‑brick two‑family house
- Recently renovated first‑floor layout with 2 bedrooms and 2.5 bathrooms
- Second‑floor duplex plus third‑floor space with 3 bedrooms and 2 bathrooms
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
1,209
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 - Two-family brick home in R3-1 zoning with recently renovated interiors, balcony, hardwood floors, and private parking.
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: Zoned R3‑1 semi‑detached all‑brick two‑family house; Recently renovated first‑floor layout with 2 bedrooms and 2.5 bathrooms; Second‑floor duplex plus third‑floor space with 3 bedrooms and 2 bathrooms
