Brick Duplex With Separate
New
For Sale
$1,830,000
9-24 129th Street, College Point, NY 11356
Residential Income, College Point, NY
Property Size2,278 SF
Lot Size0.06 Acres
Price / SF$803.34
Days on Market2
Property Features for 9-24 129th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 1, Basement, Bedroom 7, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5
Parking features
Garage, Driveway
Interior features
First Floor Bedroom, First Floor Full Bath
Basement
Full, Finished
Elementary school
Ps 129 Patricia Larkin
Middle school
Jhs 194 William Carr
High school
Flushing High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Active
APN
03978-0031
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12632
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2019
Number of units
2
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 3:06AM
MLS# 1050764
Copyright © 2026 OneKey MLS. 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.
This legal two-family duplex is a semi-attached, all-brick residence with approximately 2,278 square feet of building area on a 5,000-square-foot lot. The layout includes seven bedrooms, three full bathrooms, two kitchens, and separate entrances. A finished basement with its own private entry adds usable interior space, while a first-floor bedroom and full bathroom support flexible household arrangements.
The property includes a private garage and driveway. Utility infrastructure is separately metered with three electric meters and two gas meters, and the building is served by public water and public sewer. Natural-gas heating and electric cooling are installed. Located in College Point, the home has access to Q25 bus service to Flushing Main Street, along with nearby shopping, dining, transportation, and everyday amenities.
The property includes a private garage and driveway. Utility infrastructure is separately metered with three electric meters and two gas meters, and the building is served by public water and public sewer. Natural-gas heating and electric cooling are installed. Located in College Point, the home has access to Q25 bus service to Flushing Main Street, along with nearby shopping, dining, transportation, and everyday amenities.
Key Highlights
- Legal two‑family duplex with 7 bedrooms and 3 full bathrooms
- Approximately 2,278 SF building on a 5,000 SF lot
- Two kitchens and separate entrances support flexible occupancy
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
$55,684
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
3.04%
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%
$1,113,680
$1.1M
Cap Rate 7%
$795,486
$795.5K
Cap Rate 9%
$618,711
$618.7K
Market Conditions
NOI Build-Up for 2,278 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
$105.2K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$101.2K $44.44/SF
− OpEx
−$45.6K −$20.00/SF
NOI
$55.7K $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%
$1,113,680
Cap Rate 7%
$795,486
Cap Rate 9%
$618,711
Alternative Uses
Best Use
Apartment 5plus
$795.5K
$696.1K – $928.1K
NOI $55,684 @ 7.0% cap · market cap 3.04%
Second Best
Multifamily LT 5
$538.6K
$471.3K – $628.4K
NOI $37,705 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,556 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,462
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Legal two-family property offers flexible living arrangements with dedicated kitchens, entrances, and utility meters.
Where is this duplex located?
The property is located at 9-24 129th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,830,000.
What are key features of this property?
This property features: Legal two‑family duplex with 7 bedrooms and 3 full bathrooms; Approximately 2,278 SF building on a 5,000 SF lot; Two kitchens and separate entrances support flexible occupancy
