Renovated Three-Level Duplex with
For Sale
$925,000
156-08 79 Street, Howard Beach, NY 11414
MULTI_FAMILY - Howard Beach, NY
Property Size3,000 SF
Price / SF$308.33
Days on Market61
Property Features for 156-08 79 Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Parking features
Driveway
Fencing
Fenced
Subdivision
Howard Beach
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #27
Standard status
Active
Size
3,000 SF
Taxes and HOA fees
Tax Annual Amount
4400
Utilities
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1979
Floors in Building
3
Building materials
Brick
Roof type
Asphalt
Listing Agency:
CLOVERDALE REALTY & MANAGEMENT LTD
(718) 926-3184
Listed By:
Anthony Mihovich
Added: Jul 3
Changed: Aug 3
Last Checked: Sep 1 at 5:06AM
MLS# 11869059
Copyright © 2026 My State 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.
Renovated two-family townhouse built with brick construction in 1979, arranged over three levels. The finished ground floor includes a legal three-piece bathroom, laundry area, and two large rooms listed on the certificate of occupancy as playroom and storage room. The first floor offers a large one-bedroom layout with an eat-in kitchen, full bathroom, living room, and dining room. The second floor features three bedrooms plus a kitchen, full bathroom, living room, and dining room. A large amount of closet space is noted on each floor. The property also includes a garage, driveway parking, and a fenced backyard.
The home is located in Howard Beach, Queens, near Linden Blvd, within walking distance of bus service including Q21, Q41, Q15, and BM15 express buses. It is also described as walkable to the shopping center at 153 Ave and 82nd Street, and close to JFK, with the MTA “A” train reachable by short bus ride.
Additional building features include natural gas heating with baseboard and hot water, asphalt roofing, and public water service.
The home is located in Howard Beach, Queens, near Linden Blvd, within walking distance of bus service including Q21, Q41, Q15, and BM15 express buses. It is also described as walkable to the shopping center at 153 Ave and 82nd Street, and close to JFK, with the MTA “A” train reachable by short bus ride.
Additional building features include natural gas heating with baseboard and hot water, asphalt roofing, and public water service.
Key Highlights
- Renovated two‑family townhouse with finished ground floor and legal three‑piece bathroom
- 3,000 SF brick duplex on three levels (built 1979)
- First floor: one bedroom with EIK plus living and dining rooms
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
$73,333
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
7.93%
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%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 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
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 7.93%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 11414, NY
27,320
Population
12,223
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
11,878
Density / Sq Mi
$98,209
Median Household Income
$66,162
Median Earnings
$1,991
Median Rent
$612,800
Median Home Value
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 - Renovated three-level two-family townhouse with finished ground floor, driveway/garage, and fenced backyard in Howard Beach.
Where is this duplex located?
The property is located at 156-08 79 Street Howard Beach, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Renovated two‑family townhouse with finished ground floor and legal three‑piece bathroom; 3,000 SF brick duplex on three levels (built 1979); First floor: one bedroom with EIK plus living and dining rooms
