Two-Unit Duplex With Detached
For Sale
$989,888
81 Franklin Street, Elmont, NY 11003
Separate living areas and a finished lower level provide distinct spaces within this residential income property.
Property Size1,636 SF
Lot Size0.11 Acres
Price / SF$605.07
Days on Market69
Property Features for 81 Franklin Street
General Information
Standard status
Active
Size
1,636 SF
Lot size
0.11 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,558
Amenities
finished basement
front porch
Building Details
Building Size
1,636 SF
Year Built
1949
Buildings
1
Stories
2
Listing Agency:
FIRST FLAG Realty Inc
Listed By:
John Varghese · License #31VA0977103
(516) 673-4388
Source:
Nmgproperties
Added: Aug 24
Changed: Oct 30
Last Checked: Oct 30 at 1:54AM
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 FIRST FLAG Realty Inc
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Investment Insights
Based on property information with market context.
This 1,636-square-foot duplex contains two independent apartments. The first-floor unit has two bedrooms, a renovated full bathroom, an eat-in kitchen and a living room. Upstairs, the second unit includes one bedroom, a full bathroom, an eat-in kitchen and a living room. A finished basement with its own entrance adds further usable space.
The property occupies a 50-by-100-foot lot and includes a detached two-car garage, private driveway and front porch. Built in 1949, it is located minutes from shopping, schools and public transportation.
The property occupies a 50-by-100-foot lot and includes a detached two-car garage, private driveway and front porch. Built in 1949, it is located minutes from shopping, schools and public transportation.
Key Highlights
- Two independent units: a two‑bedroom first‑floor apartment and a one‑bedroom second‑floor apartment
- 1,636 square feet on a 50‑by‑100‑foot lot
- Finished basement with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,168
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,360
$623.4K
Cap Rate 7%
$445,257
$445.3K
Cap Rate 9%
$346,311
$346.3K
Market Conditions
NOI Build-Up for 1,636 SF
Gross rent
$47.1K $28.80/SF
− Vacancy
−$2.6K −$1.58/SF
EGI
$44.5K $27.22/SF
− OpEx
−$13.4K −$8.16/SF
NOI
$31.2K $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%
$623,360
Cap Rate 7%
$445,257
Cap Rate 9%
$346,311
Alternative Uses
Best Use
Multifamily LT 5
$445.3K
$389.6K – $519.5K
NOI $31,168 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,182 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$1.08M
$946.5K – $1.26M
NOI $75,718 @ 7.0% cap · market cap 7.65%
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
1,063
Businesses Nearby
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Business Placement
Demographics for 11003, NY
43,979
Population
12,641
Households
3.5
Avg Household Size
40
Median Age
33%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
10,727
Density / Sq Mi
$123,000
Median Household Income
$53,302
Median Earnings
$2,315
Median Rent
$576,500
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 living areas and a finished lower level provide distinct spaces within this residential income property.
Where is this duplex located?
The property is located at 81 Franklin Street Elmont, NY.
What is the asking price?
The asking price for this property is $989,888.
What are key features of this property?
This property features: Two independent units: a two‑bedroom first‑floor apartment and a one‑bedroom second‑floor apartment; 1,636 square feet on a 50‑by‑100‑foot lot; Finished basement with separate entrance
