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Opportunity knocks in one of Flushing’s most sought-after locations. This classic Tudor single-family home at 140-17 58th Rd offers exceptional upside thanks to new zoning that allows a legal two-family conversion — making it an ideal investment, renovation, or income-producing property. Set on a 2, 000 sq ft lot just minutes from downtown Flushing, transportation, shopping, and dining, the location alone makes this a standout opportunity in a neighborhood known for strong rental demand and long-term value growth. The home retains the charm and character of its Tudor roots and is ready for a full renovation and re-imagining. Property highlights include: Sunken living room with high ceilings and wood-burning fireplace Original hardwood floors throughout Classic Tudor ceiling beams and stained glass details Large formal dining room and eat-in kitchen on the main level. Three generously sized bedrooms and large full bath on the second floor Finished basement with excellent ceiling height, second fireplace, laundry and utilities Quaint backyard with access from the kitchen as well as to the private one-car garage. Location highlights: Hospitals & Medical Centers The area is a major healthcare hub — a huge draw for renters and long-term value. Nearby hospitals include: New York-Presbyterian Queens, NYC Health + Hospitals / Queens and Flushing Hospital Medical Center. This concentration of healthcare employment creates consistent rental demand. The property is surrounded by major higher-education institutions, another strong driver of housing demand. Nearby schools include: Queens College (CUNY), St. John’s University, LaGuardia Community College and Vaughn College of Aeronautics and Technology. These institutions attract faculty, and staff seeking nearby housing. Residents enjoy easy access to some of Queens’ best retail and dining. Major shopping nearby: SkyView Center (Target, BJ’s Wholesale, Marshalls, Nike, Best Buy), Flushing Commons & Downtown Flushing retail district. This location offers everything you are looking for. If you’re an investor seeking a legal two-family conversion, a buyer looking to create a live-and-rent scenario, or a renovator wanting to restore a charming Tudor in a prime Queens neighborhood, this property offers tremendous potential. Bring your architect, contractor, and vision — the value here is in the location, zoning, and future possibilities.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $980,000 | $980,000 | $980,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.000% | 5.750% | 5.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 5.973% | 5.858% | 5.681% |
| Monthly Tax Payment | $700 | $700 | $700 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,261 | $5,719 | $8,007 |
| Total Monthly Payment | $6,086 | $6,544 | $8,832 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.