All-Brick Two-Family
New
For Sale
$1,830,000
9-24 129th Street, College Point, NY 11356
Legal two-family residence with separate entrances, two kitchens, a finished basement, garage, and driveway.
Property Size2,278 SF
Lot Size0.11 Acres
Price / SF$803.34
Days on Market5
Property Features for 9-24 129th Street
General Information
Standard status
Active
Size
2,278 SF
Lot size
0.11 Acres
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,632
Building Details
Building Size
2,278 SF
Year Built
2019
Buildings
1
Construction
all-brick
Listing Agency:
E Realty International Corp
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Serhant
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 2:20PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This semi-attached, all-brick duplex is configured as a legal two-family home with approximately 2,278 SF of building area on a 5,000 SF lot. The layout includes 7 bedrooms and 3 full bathrooms across the upper levels, along with two kitchens and separate entrances. A finished basement with its own entrance adds usable space, while the property also includes a private garage and driveway.
Separate utilities are supported by 3 electric meters and 2 gas meters. The property is in College Point near shopping, dining, transportation, and everyday amenities, with Q25 bus service providing access to Flushing Main Street. Its configuration supports extended or multi-generational living, owner occupancy, or investment use.
Separate utilities are supported by 3 electric meters and 2 gas meters. The property is in College Point near shopping, dining, transportation, and everyday amenities, with Q25 bus service providing access to Flushing Main Street. Its configuration supports extended or multi-generational living, owner occupancy, or investment use.
Key Highlights
- Legal two‑family home 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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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
944
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
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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 - Legal two-family residence with separate entrances, two kitchens, a finished basement, garage, and driveway.
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 home 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
