Small multi-family is the least-reported corner of this market. Below is what Queens two-to-four family homes, the ones commonly called duplexes and triplexes, actually sold for, how long they took, how much sellers gave up off their first asking price, and how often a listing never sold at all.
Key readA typical Queens two-to-four family home sells for about $1.16M, or roughly $545K per dwelling unit; homes that sell go to contract in a median of 48 days; and close at about 96.1% of the original asking price. Over 11 years of recorded sales the median has risen about 85%.
Based on 1,367 closed sales in the trailing year, drawn from 16,729 recorded Queens two-to-four family closings since 2013.
The median Queens two-to-four family sale has risen from $620K in 2014 to $1.15M in 2025, a change of about +85% across 11 years. Each year below is a full calendar year of closings; the current year is still in progress and is left out of the line.
| Year | Median price | Per unit | Days to contract | % of original ask | Sales |
|---|---|---|---|---|---|
| 2014 | $620K | $299K | 70d | 94.7% | 150 |
| 2015 | $637K | $308K | 56d | 95.8% | 1,078 |
| 2016 | $725K | $345K | 56d | 95.8% | 1,227 |
| 2017 | $815K | $385K | 57d | 95.6% | 1,301 |
| 2018 | $870K | $419K | 54d | 95.3% | 1,368 |
| 2019 | $885K | $425K | 64d | 93.6% | 1,443 |
| 2020 | $900K | $437K | 56d | 94.5% | 1,239 |
| 2021 | $977K | $467K | 60d | 94.8% | 1,543 |
| 2022 | $1.06M | $500K | 46d | 96.5% | 1,903 |
| 2023 | $1.03M | $495K | 51d | 94.7% | 1,537 |
| 2024 | $1.09M | $500K | 50d | 95.0% | 1,581 |
| 2025 | $1.15M | $530K | 49d | 96.0% | 1,509 |
| 2026 partial | $1.15M | $550K | 49d | 95.9% | 849 |
Across 12 full years, the median Queens two-to-four family closed between 93.6% and 96.5% of its original asking price — a total spread of about 2.9 points, with the widest discounts in 2019 and the tightest in 2022. That is a remarkably narrow band for a period that contained a price boom, a pandemic and a sharp rise in interest rates. In this segment the gap between the first asking price and the final number is close to a constant, which makes the launch price the decision that matters most.
Measured against the original asking price, not the last one — a home repriced three times still gets measured from where it started.
| Type | Median price | Per unit | Days to contract | Sales (5 yr) |
|---|---|---|---|---|
| Two-family | $1.08M | $540K | 48d | 3,739 |
| Three-family | $1.4M | $467K | 61d | 479 |
| Four-family | $1.38M | $344K | 69d | 95 |
Trailing three years of closings, so each row has enough sales to describe a typical trade. Price per unit is the sale price divided by the number of dwelling units.
Roughly 56% of Queens two-to-four family listing attempts between 2018 and 2026 ended without a sale — the listing expired, or was cancelled or withdrawn.
| Year | Sold | Did not sell | Share that failed | Of those, cut their price |
|---|---|---|---|---|
| 2018 | 1,368 | 1,947 | 58.7% | 32% |
| 2019 | 1,443 | 2,521 | 63.6% | 36% |
| 2020 | 1,239 | 2,152 | 63.5% | 32% |
| 2021 | 1,543 | 2,050 | 57.1% | 32% |
| 2022 | 1,903 | 2,033 | 51.7% | 34% |
| 2023 | 1,537 | 1,734 | 53.0% | 37% |
| 2024 | 1,581 | 1,553 | 49.6% | 34% |
| 2025 | 1,509 | 1,596 | 51.4% | 38% |
| 2026 | 849 | 910 | 51.7% | 32% |
In every year measured, roughly 34% of the sellers whose listings failed had already cut their asking price — and still did not sell. Cutting late does not reliably rescue a launch price the market has already rejected.
Listings that failed sat on the market a median of 110 days. Ones that sold went to contract in 48.
These are listing attempts, not homes. One property that expires twice before selling appears here twice. The share of owners who never sell is lower than the share of listings that fail, and this table does not measure it.
Among Queens two-to-four family listings where the agent recorded meter counts, about 93% had at least one meter per dwelling unit — gas, electric or both. Separate metering shifts utility costs to the tenants and is one of the larger swing factors in what a small multi-family actually nets its owner.
Reported on 14,062 of 33,493 listings (42%). Agents are more likely to record meters when separate metering is a selling point, so treat this as a figure for the listings that disclosed it rather than for the whole housing stock.
Where the spread is. Across the 12 Queens areas with enough recorded sales to measure, the median two-to-four family sale runs from about $918K in Jamaica to $1.45M in Bayside — a difference of roughly 58%.
| Area | Median price | Per unit | Days to contract | Sales (5 yr) |
|---|---|---|---|---|
| Jamaica | $918K | $450K | 53d | 806 |
| Flushing | $1.35M | $637K | 45d | 703 |
| Astoria | $1.4M | $625K | 49d | 382 |
| Bayside | $1.45M | $700K | 49d | 352 |
| Ozone Park | $945K | $445K | 50d | 340 |
| Middle Village | $1.1M | $513K | 50d | 319 |
| East Elmhurst | $1.15M | $533K | 48d | 297 |
| Corona | $1.23M | $525K | 43d | 282 |
| Glendale | $968K | $457K | 49d | 280 |
| Maspeth | $1.05M | $493K | 50d | 277 |
| Woodhaven | $950K | $455K | 51d | 245 |
| Woodside | $1.26M | $556K | 41d | 235 |
Areas with at least 20 recorded sales in the last five years, ordered by volume.
The headline price is not the cost. A typical Nassau County two- and three-family sells for about $892K — less than one in Queens at $1.16M — yet carries roughly $14,200 a year in property tax against about $7,900. On the recorded sales, that is an effective rate of 1.59% versus 0.68%. Two buildings at the same purchase price can carry very different annual costs depending on which side of the county line they sit.
| County | Median price | Per unit | Days | % of original ask | Median tax | Tax as % of price |
|---|---|---|---|---|---|---|
| Queens this page | $1.16M | $545K | 48d | 96.1% | $7,900 | 0.68% |
| Nassau County | $892K | $436K | 30d | 99.1% | $14,200 | 1.59% |
| Suffolk County | $750K | $375K | 27d | 99.7% | $13,800 | 1.84% |
| Brooklyn | $1.1M | $483K | 56d | 95.6% | $6,800 | 0.62% |
Trailing twelve months of recorded closings in each county. Tax is the annual amount recorded on the sale, which reflects the assessment at the time and not necessarily what a new owner will pay.
Brooklyn coverage. These Brooklyn figures are drawn from OneKey® MLS only. A large share of Brooklyn listing activity runs through the Brooklyn MLS (BNYMLS), which this site does not yet carry. For scale, over the same twelve months the public deed record shows Brooklyn transacting at about 80% of Queens’s volume, while OneKey recorded 1,050 Brooklyn sales against 8,208 in Queens. Read the Brooklyn figures as describing the OneKey-listed portion of that market rather than the whole borough. They are real recorded sales — there are simply fewer of them here than the borough actually transacts.
Thinking about selling a two-to-four family? The launch price is the decision that moves the outcome most — in this data, listings that failed had usually already cut, and cutting late rarely rescued them. A pricing conversation before the listing goes live is worth more than any adjustment after it.
The median two-to-four family sale in Queens over the trailing year was about $1.16M, which works out to roughly $545K per dwelling unit, across 1,367 recorded closings.
Yes. The median Queens two-to-four family sale moved from $620K in 2014 to $1.15M in 2025, a change of about +85% over 12 years of recorded sales.
About 56% of Queens two-to-four family listing attempts ended without a sale. That counts listings rather than properties — a home listed twice before selling counts twice — so it is a measure of how often a listing fails, not of how many owners never sell.
Homes that sold went to contract in a median of 48 days. Listings that ultimately failed sat for a median of 110 days before coming off the market.
Not necessarily — in Queens the word is ambiguous. Outside New York City a duplex normally means a two-family house: one building holding two separate legal dwelling units. Within the city, "duplex" more often describes a single apartment spanning two floors of a co-op or condo, which is one dwelling unit, not two. Everything on this page counts legal dwelling units, so only genuine two-to-four family buildings are included.
The median annual property tax recorded on a Queens two-to-four family sale was about $7,900, roughly 0.68% of the sale price.
What is counted. Residential income properties of two to four dwelling units in Queens. Buildings of five units or more are excluded: they carry commercial financing and trade as a different market. Sales below $50,000 are excluded as non-market transfers.
Where it comes from. 16,729 closed sales recorded on OneKey MLS, running through August 2026, and 16,713 listings that ended without a sale.
Why price per unit and not price per square foot. Building area is recorded on only about a quarter of these listings across the full period — it became common only in recent years — so a long-run price-per-square-foot series would say more about record keeping than about the market. Price per unit is available throughout.
What this cannot tell you. Rents, operating expenses and cap rates are not reported on these listings in any usable quantity, so no income or yield figure appears anywhere on this page. Nothing here is estimated or modelled; every number is a count or a median of recorded sales.
This report covers one slice of the market. The companion reports go deeper on the rest:
Nassau County two- and three-family → Suffolk County two- and three-family → Brooklyn two-to-four family →
Sales recorded through August 2026 · page rebuilt Oct 10, 2026.
Figures are county-wide medians drawn from live OneKey MLS data and refresh as new sales close; they describe the market, not any specific property, and are rounded to avoid false precision. Joseph DeVito is a NY Licensed Associate Real Estate Broker and an attorney; this analysis is general market information, not legal, tax, or individualized investment advice. Confirm school-district boundaries, tax figures, and comparable sales for any specific property before acting. Small multi-family figures are compiled from periodic exports of the MLS record rather than a live feed, so the period covered above is the authoritative one.
Based on information from OneKey® MLS, for the period December 29, 2013 through August 7, 2026.
The DeVito Team of Keller Williams Realty Greater Nassau
Joseph DeVito, NY Licensed Associate Real Estate Broker
400 Garden City Plaza Ste 438, Garden City, NY 11530 · (516) 770-3782
