Brick Two-Family Duplex with
For Sale
$1,750,000
Pending
7442 43rd Avenue, Elmhurst, NY 11373
MULTI_FAMILY - Elmhurst, NY
Property Size3,300 SF
Lot Size0.06 Acres
Days on Market72
Property Features for 7442 43rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 5, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 1, Basement, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 4, Bathroom 3
Parking features
Driveway, Garage
Interior features
First Floor Bedroom, First Floor Full Bath, Primary Bathroom
Basement
Finished
Elementary school
Ps 7 Louis F Simeone
Middle school
Is 5 Walter Crowley Intermediate
High school
Newtown High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Standard status
Pending
APN
01520-0032
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13314
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
balcony
Building Details
Year built
1973
Number of units
2
Building materials
Brick
Listing Agency:
RE/MAX 1st Choice · RE/MAX International
(516) 888-6000
Listed By:
Justin Chew · License #10401345255
(917) 597-0969
Added: Jun 3
Changed: Aug 4
Last Checked: Aug 13 at 7:06AM
MLS# 1008864
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 brick two-family duplex offers approximately 3,300 square feet of total living space on a 0.0564-acre lot, built in 1973. The top two floors each include spacious three-bedroom, 1.5-bathroom layouts, and both units have a large balcony. The first floor features a one-bedroom with a full bathroom and access to the backyard. A finished basement provides additional flexible space for customization or storage.
The home is equipped with natural gas heating and wall/window and window unit cooling. Parking includes a private driveway and a one-car garage. Public water and public sewer services are available.
Convenient transit access is noted via the E, F, M, R, and 7 trains.
The home is equipped with natural gas heating and wall/window and window unit cooling. Parking includes a private driveway and a one-car garage. Public water and public sewer services are available.
Convenient transit access is noted via the E, F, M, R, and 7 trains.
Key Highlights
- Brick two‑family duplex on a 0.0564‑acre lot
- Approximately 3,300 square feet of total living space
- Built in 1973
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
4.61%
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 4.61%
Second Best
Multifamily LT 5
$780.3K
$682.8K – $910.3K
NOI $54,620 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 9.73%
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
7,526
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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 - 1973 brick duplex with natural gas heat, public water and sewer, and a private driveway plus one-car garage.
Where is this duplex located?
The property is located at 7442 43rd Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Brick two‑family duplex on a 0.0564‑acre lot; Approximately 3,300 square feet of total living space; Built in 1973
