Two-Family Duplex With Finished
For Sale
$1,349,000
Pending
89-25 127th Street, Richmond Hill, NY 11418
Residential Income, Richmond Hill, NY
Property Size2,400 SF
Lot Size0.07 Acres
Days on Market80
Property Features for 89-25 127th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 5
Parking
2
Parking features
Driveway
Window features
Screens, ENERGY STAR Qualified WIndows, Insulated Windows
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, His and Hers Closets, Open Kitchen, Pantry, Stone Counters, Washer/Dryer Hookup
Basement
Walk-Out Access, Storage Space, Finished, Full
Lot features
Back Yard, Front Yard, Interior Lot, Near Public Transit, Near Shops, Private
View
City
Elementary school
Ps 54 Hillside
Middle school
Jhs 217 Robert A Van Wyck
High school
Hillcrest High School
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Directions
89 Ave to 127th St
Standard status
Pending
APN
09354-0045
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8388
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Baseboard, Energy Star Qualified Equipment (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
hardwood floors
stainless steel appliances
quartz countertops
finished basement
fenced backyard
security gates
individual boiler/hot water
laundry area
Building Details
Year built
2025
Number of units
2
Flooring type
Tile, Wood
Building materials
Brick, Energy Star, Frame, Stone, Vinyl Siding
Architectural style
Contemporary
Listing Agency:
Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #10371200613
(888) 278-5840
Added: Jun 11
Changed: Aug 20
Last Checked: Aug 29 at 12:06AM
MLS# 1012171
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.
Completed as a contemporary two-family residence, the property provides almost 2,400 square feet of living space across two apartments, along with a full 1200 sf basement with 8-foot ceilings. Each apartment includes three bedrooms and two full bathrooms, with a primary bedroom and en suite bathroom on each floor. Quartz countertops, stainless steel appliances, hardwood flooring, open kitchens, and pantry space are included. The basement contains a full bathroom, laundry area, and two separate exterior entrances.
The home sits on a 0.0689-acre lot with a fenced backyard, security gates, and driveway parking for two cars. Each unit is equipped with a high-efficiency Navien boiler and hot water heater. Public water and sewer serve the property. Jamaica Hospital is a 10-minute walk away, while subway service on the E, J, and Z lines is located nearby.
The home sits on a 0.0689-acre lot with a fenced backyard, security gates, and driveway parking for two cars. Each unit is equipped with a high-efficiency Navien boiler and hot water heater. Public water and sewer serve the property. Jamaica Hospital is a 10-minute walk away, while subway service on the E, J, and Z lines is located nearby.
Key Highlights
- Almost 2,400 sq. ft. of living space plus 1200 sf full basement with 8ft high ceilings
- Two apartments, each with 3 bedrooms and 2 full bathrooms
- Full basement includes a bathroom, laundry area, and 2 separate outside entrances
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
$58,667
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
4.35%
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%
$1,173,340
$1.2M
Cap Rate 7%
$838,100
$838.1K
Cap Rate 9%
$651,856
$651.9K
Market Conditions
NOI Build-Up for 2,400 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
$110.9K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$106.7K $44.44/SF
− OpEx
−$48.0K −$20.00/SF
NOI
$58.7K $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%
$1,173,340
Cap Rate 7%
$838,100
Cap Rate 9%
$651,856
Alternative Uses
Best Use
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 4.35%
Second Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,852 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,857
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
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 - Two apartments offer three bedrooms, two full baths, contemporary finishes, and separate high-efficiency heating equipment.
Where is this duplex located?
The property is located at 89-25 127th Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Almost 2,400 sq. ft. of living space plus 1200 sf full basement with 8ft high ceilings; Two apartments, each with 3 bedrooms and 2 full bathrooms; Full basement includes a bathroom, laundry area, and 2 separate outside entrances
