Fully Renovated Two-Family
For Sale
$1,888,000
Pending
2123 Amory Court, Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size3,300 SF
Lot Size0.07 Acres
Days on Market143
Property Features for 2123 Amory Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 6, Dining Room, Bedroom 1, Bedroom 5
Parking
4
Parking features
Driveway, Garage, Alley, Oversize, Open
Security features
Security System
Patio and Porch features
Patio, Porch
Interior features
First Floor Bedroom, First Floor Full Bath, Chefs Kitchen, Crown Molding, Eat-in Kitchen, ENERGY STAR Qualified Door(s), Formal Dining, Granite Counters, Kitchen Island, Open Kitchen
Exterior features
Garden, Mailbox
Basement
Walk-Out Access, Storage Space, Finished, Full
Lot features
Back Yard, Front Yard, Garden, Near Public Transit, Near School, Near Shops, Private, Stone/ Brick Wall, Views
View
City
Elementary school
Ps 71 Forest
Middle school
Is 93 Ridgewood
High school
Aviation Career And Tech High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
www.Mapquest.Com /Waze Cross Streets:Metropolitan Ave to 2123 Amory Ct, Ridgewood NY 11385.Close to Bus, Close to School, Close to Shops, Near Public Transportation.
Standard status
Pending
APN
03362-0037
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11374
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
hardwood floors
updated windows
granite kitchen
finished basement
private backyard
Building Details
Year built
1965
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Trademarko Realty Inc
(718) 502-5141
Listed By:
Malgorzata A. Pieniadz CBR
(347) 647-6397
Added: Apr 2
Changed: Aug 20
Last Checked: Aug 22 at 1:06AM
MLS# 980239
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 fully renovated two-family duplex offers flexible living with two open-concept main floors and a fully finished ground-level basement featuring a separate entrance. Each level includes three bedrooms and a full bathroom, for a total of 6 bedrooms and 2 full bathrooms. The layout connects the eat-in kitchen, dining area, and living room, with hardwood floors throughout and updated windows. The kitchen features granite counters and an oversized island. The ground-level basement provides additional versatility for a recreation room, home office, gym, media lounge, or extended living space, with abundant storage.
Outside, there is a large private backyard and a private long driveway leading to a front-facing garage. The property is built with brick construction and includes baseboard heating with natural gas, plus window and wall/window A/C units.
The home sits on a 2,991 sq. ft. lot (0.0687 acres) and is delivered vacant at closing. It is located within flexible R5B zoning.
Outside, there is a large private backyard and a private long driveway leading to a front-facing garage. The property is built with brick construction and includes baseboard heating with natural gas, plus window and wall/window A/C units.
The home sits on a 2,991 sq. ft. lot (0.0687 acres) and is delivered vacant at closing. It is located within flexible R5B zoning.
Key Highlights
- 6 bedrooms and 2 full bathrooms across two main floors
- Fully finished ground‑level basement with separate entrance
- 2,991 sq. ft. lot (0.0687 acres) in R5B zoning
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
$80,667
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
4.27%
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%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 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
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $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%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 4.27%
Second Best
Multifamily LT 5
$780.3K
$682.8K – $910.3K
NOI $54,620 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,497
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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 - Fully renovated duplex with 6 bedrooms, 2 full bathrooms, and a finished ground-level basement with separate entrance.
Where is this duplex located?
The property is located at 2123 Amory Court Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: 6 bedrooms and 2 full bathrooms across two main floors; Fully finished ground‑level basement with separate entrance; 2,991 sq. ft. lot (0.0687 acres) in R5B zoning
