Two-Unit Duplex with Finished
New
For Sale
$1,025,000
8424 129th Street, Kew Gardens, NY 11415
Separate laundry in both residences and a finished basement with its own entrance support a flexible residential layout.
Property Size2,010 SF
Lot Size0.06 Acres
Price / SF$509.95
Days on Market6
Property Features for 8424 129th Street
General Information
Standard status
Active
Size
2,010 SF
Lot size
0.06 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,941
Amenities
laundry
First Floor Bedroom
First Floor Full Bath
Ceiling Fan(s)
Eat-in Kitchen
Pantry
Quartz/Quartzite Counters
Recessed Lighting
Building Details
Building Size
2,010 SF
Year Built
1920
Buildings
1
Units
2
Listing Agency:
EXP Realty
Listed By:
Tyler Radford
(516) 670-5567
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:16PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,010 square feet of living space on a 2,500-square-foot lot measuring 25 x 100 feet. Each residence has three bedrooms and one bathroom, and both units are vacant. The first-floor apartment was gut-renovated in 2019 with hardwood flooring, an eat-in kitchen, quartz countertops, and pantry storage. A finished basement has an additional bathroom and a separate entrance. The backyard includes a bluestone patio, a stone planter bed, and cedar fencing. A new boiler was installed in 2026; partial roof replacement dates to 2020, and most plumbing was replaced with PVC in 2023.
The property is at 8424 129th Street in Kew Gardens, Queens. The E, F, and J subway lines, the Long Island Rail Road, and local bus routes are described as a short walk away; the LIRR trip to Penn Station is 18 minutes. The home is also near Forest Park and neighborhood shops, restaurants, and grocery stores.
The property is at 8424 129th Street in Kew Gardens, Queens. The E, F, and J subway lines, the Long Island Rail Road, and local bus routes are described as a short walk away; the LIRR trip to Penn Station is 18 minutes. The home is also near Forest Park and neighborhood shops, restaurants, and grocery stores.
Key Highlights
- Two vacant residences, each with 3 bedrooms and 1 bathroom
- Approximately 2,010 sq ft of living area on a 2,500 sq ft lot (25 x 100 ft)
- Finished basement with an additional bathroom and separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,133
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$982,660
$982.7K
Cap Rate 7%
$701,900
$701.9K
Cap Rate 9%
$545,922
$545.9K
Market Conditions
NOI Build-Up for 2,010 SF
Gross rent
$92.9K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$89.3K $44.44/SF
− OpEx
−$40.2K −$20.00/SF
NOI
$49.1K $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 Rate 5%
$982,660
Cap Rate 7%
$701,900
Cap Rate 9%
$545,922
Alternative Uses
Best Use
Apartment 5plus
$701.9K
$614.2K – $818.9K
NOI $49,133 @ 7.0% cap · market cap 4.79%
Second Best
Multifamily LT 5
$475.3K
$415.9K – $554.5K
NOI $33,269 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,726 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,965
Businesses Nearby
Explore this area
Business Placement
Demographics for 11415, NY
20,241
Population
9,794
Households
2.1
Avg Household Size
41
Median Age
53%
College-Educated
89%
High-School Grad
0.6 sq mi
ZIP Area
33,735
Density / Sq Mi
$88,632
Median Household Income
$60,950
Median Earnings
$1,909
Median Rent
$367,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate laundry in both residences and a finished basement with its own entrance support a flexible residential layout.
Where is this duplex located?
The property is located at 8424 129th Street Kew Gardens, NY.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Two vacant residences, each with 3 bedrooms and 1 bathroom; Approximately 2,010 sq ft of living area on a 2,500 sq ft lot (25 x 100 ft); Finished basement with an additional bathroom and separate entrance
