Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    89-10 121St St Richmond Hill, NY 11418

    Sponsored
    For Sale
    $849,000

    MULTI_FAMILY - Colonial - Richmond Hill, NY

    Lot size:
    0.06 Acres
    Days on Market:
    14
    Last Refresh:
    Feb 4 at 9:06 am

    Property Features for 89-10 121St St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Blinds
    Rooms
    Bedroom 2, Bedroom 1, Basement, Bathroom 2, Bathroom 1, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    09347-0006
    Parking features
    On Street
    Interior features
    First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Entrance Foyer
    Fencing
    Chain Link
    Basement
    Unfinished
    Accessibility
    Accessible Approach with Ramp
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    1
    Flooring type
    Carpet
    Building materials
    Brick, Vinyl Siding
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Nicole Fernandez

    Laffey Real Estate (888) 289-6902

    Listing agent Nicole Fernandez (516) 640-8227

    Listing date Jan 22, 2026

    MLS# 939223 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

    Richmond Hill Two-Family Home

    This two-family residence in Richmond Hill offers an opportunity for investors, developers, or end users. The property features layouts and original details. The two-family configuration offers the potential for rental income or a multi-generational living setup. The property is positioned near transportation options, shops, and neighborhood amenities. This Richmond Hill home can be transformed into an asset. The lot size is 0.0618 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 Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond Hill
    County
    Queens
    State
    New York
    Longitude
    -73.82768
    Latitude
    40.697498

    Nearby Similar for Sale

    • $1,075,000
      2,320 SF

      Renovated Two-Family Home, Richmond Hill

      Meticulously renovated two-family home in a sought-after residential area.
      104-21 92Nd Ave, Richmond Hill, NY 11418
      View Details
    • $1,299,000
      2,200 SF

      Spacious Colonial Duplex in Richmond Hill

      Two-family home in the heart of Richmond Hill, convenient location.
      8640 126Th St, Richmond Hill, NY 11418
      View Details
    • $1,300,000
      Pending

      Renovated Duplex in Richmond Hill

      Fully renovated duplex with rental income potential in Richmond Hill.
      8606 126Th St, Richmond Hill, NY 11418
      View Details
    • $950,000
      Pending

      Richmond Hill Legal 2-Family Duplex

      Detached, well-maintained duplex in Richmond Hill with rental potential.
      9110 Lefferts Blvd, Richmond Hill, NY 11418
      View Details
    • $1,399,000
      0.13 Acres

      Richmond Hill Multifamily Investment Property

      Well-maintained 3-family property in prime Richmond Hill location.
      110-97 85Th Ave, Richmond Hill, NY 11418
      View Details
    • $998,000
      0.06 Acres

      Richmond Hill Multifamily Property

      Multifamily property for sale in Richmond Hill, NY.
      8754 110Th St, Richmond Hill, NY 11418
      View Details
    • $1,200,000
      2,220 SF

      Richmond Hill Duplex For Sale

      Well-maintained duplex with finished basement and backyard in Richmond Hill.
      126-17 101St Ave, Richmond Hill, NY 11419
      View Details
    • $1,200,000
      Pending

      Richmond Hill Two-Family Home

      Two-family home in South Richmond Hill with parking and potential.
      11416 95Th Ave, Richmond Hill, NY 11419
      View Details
    • $999,000
      Pending

      Richmond Hill Two-Family Investment Property

      Turn-key two-family home in prime Richmond Hill location.
      8771 123Rd St, Richmond Hill, NY 11418
      View Details
    • $999,999
      Pending

      Richmond Hill Two-Family Home

      Well-maintained two-family home in Richmond Hill, Queens.
      10439 90Th Ave, Richmond Hill, NY 11418
      View Details
    • $675,000
      0.05 Acres

      Richmond Hill Multifamily Investment Opportunity

      Multifamily home in Queens, ideal for investors or owner-occupiers.
      8921 129Th St, Richmond Hill, NY 11418
      View Details
    • $1,500,000
      4,000 SF

      Richmond Hill Mixed-Use Investment Property

      Three-story mixed-use building on Jamaica Avenue in Richmond Hill, Queens.
      125-16 Jamaica Ave, Richmond Hill, NY 11418
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family home in Richmond Hill with investment potential.
    Where is this duplex located?
    The property is located at 89-10 121St St Richmond Hill, NY.
    What is the asking price?
    The asking price for this property is $849,000.
    What are key features of this property?
    This property features: - Rare two-family home opportunity in Richmond Hill, offered for the first time in over 50 years.; - Potential for strong rental income or multi-generational living due to its two-family configuration.; - Convenient location near major transportation, shops, and neighborhood amenities.
    (516) 640-8227
    Request Owner's contact information
    89-10 121St St Richmond Hill, NY 11418
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    89-10 121St St
    Richmond Hill, NY 11418
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    89-10 121St St Richmond Hill, NY 11418
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nicole Fernandez
    (516) 640-8227
    Learn more
    Google sign-in failed. Please try again or use another login method.