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    77 Lucille Ave Elmont, NY 11003

    Sponsored
    For Sale
    $1,279,000

    MULTI_FAMILY - Colonial - Elmont, NY

    Lot size:
    0.11 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 19 at 9:06 pm

    Property Features for 77 Lucille Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Dining Room, Basement
    Bedrooms
    5
    Bathrooms
    2
    APN
    2089-35-042-00-0074-0
    Parking
    1
    Parking features
    Open, Driveway, Off Street, Garage
    Patio and Porch features
    Patio
    Interior features
    First Floor Bedroom, First Floor Full Bath, Ceiling Fan(s), Formal Dining
    Basement
    Finished, Walk-Out Access
    Lot size
    0.11 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1968
    Number of units
    2
    Flooring type
    Wood, Tile
    Building materials
    Stucco
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Eric Quintanilla

    Coldwell Banker American Homes (800) 270-6318

    Listing agent Eric Quintanilla (516) 448-1193

    Listing date Feb 18, 2026

    MLS# 961609 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Spacious Multi-Family Home in Elmont

    Located in Elmont, NY, this meticulously maintained legal multi-family residence at 77 Lucille Avenue is ideally situated minutes from two major highways and a vibrant downtown district offering shopping, dining, and entertainment. The property features a fully renovated second floor, complete with new hardwood flooring and updated kitchen appliances. The finished basement includes a modern washer and dryer. Comfort is ensured year-round with ductless A/C units providing efficient cooling and dehumidification, along with central gas heating across three separately controlled zones. Additional mechanical upgrades include a newer separate gas hot water heater, three individual electric panels, two electric meters, newly installed double main water shut-off valves and a newly installed main swear line. The home offers five generously sized bedrooms, two full bathrooms, and eleven closets, providing abundant space and storage. Natural light fills the expansive living room, which flows seamlessly into the adjacent dining area. Exterior enhancements include new stucco that is freshly painted with freshly painted finishes, newly painted wrought-iron gates, three recently painted steel doors with screens, a patio with a new roof with updated lighting, newly installed gutters with leaf guards, and a natural gas barbecue connection. The property is fully gated and beautifully landscaped, featuring seasonal color changes and a serene backyard water feature. Additional highlights include three separate entrances, a detached garage with an automatic door opener, a fully decked, well-lit attic space with pull-down staircase for convenient storage, and a central station alarm system. The lot size is 0.1148 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmont
    County
    Queens
    State
    New York
    Longitude
    -73.684835
    Latitude
    40.706026

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    FAQs

    What type of property is this?
    Duplex - Meticulously maintained multi-family residence near highways and vibrant downtown.
    Where is this duplex located?
    The property is located at 77 Lucille Ave Elmont, NY.
    What is the asking price?
    The asking price for this property is $1,279,000.
    What are key features of this property?
    This property features: - Legal multi-family residence, ideal for homeowners or investors; - **Fully renovated second floor with new hardwood flooring and updated kitchen appliances**; - Multiple mechanical upgrades: newer gas hot water heater, three electric panels, new water shut-off valves, new sewer line
    (516) 448-1193
    Request Owner's contact information
    77 Lucille Ave Elmont, NY 11003
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    77 Lucille Ave Elmont, NY 11003
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    We can help!
    Listing Contact
    Eric Quintanilla
    (516) 448-1193
    Learn more
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