Brick Two-Family Home with
For Sale
$1,980,000
101-64 123 Street, South Richmond Hill, NY 11419
Tenant-occupied property with updated kitchens, separate gas heating, and rear balcony space.
Property Size3,265 SF
Days on Market34
Property Features for 101-64 123 Street
General Information
Standard status
Active
Size
3,265 SF
Total Parking Spaces
8
Property subtype
Residential Income
Occupancy
100%
Additional Details
Cap Rate
5.5%
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,493
Amenities
balcony
Building Details
Building Size
3,265 SF
Year Built
1965
Buildings
1
Units
2
Construction
brick
Listing Agency:
Winzone Realty Inc
Listed By:
Xiao Feng Pan CBR · License #31PA0929296
(718) 899-7000
Source:
Mydreamhomerealty
Added: Aug 17
Changed: Sep 18
Last Checked: Sep 18 at 2:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Winzone Realty Inc
Investment Insights
Based on property information with market context.
This brick semi-detached two-family home was built in 1965 and is fully tenant occupied. The property includes two new kitchens, two separate new gas heaters, a rear balcony serving the second floor, and new concrete flooring along the front-side driveway and backyard. On-site parking accommodates up to 8 cars.
Located at 101-64 123 Street in Richmond Hill S., the property is 3 blocks from the A train’s Lefferts Blvd Station and one block from Liberty Avenue’s commercial corridor. The investment is reported at a 5.5% cap rate.
Located at 101-64 123 Street in Richmond Hill S., the property is 3 blocks from the A train’s Lefferts Blvd Station and one block from Liberty Avenue’s commercial corridor. The investment is reported at a 5.5% cap rate.
Key Highlights
- Two‑family brick residence built in 1965
- Fully tenant occupied with a reported 5.5% cap rate
- Two new kitchens and two separate new gas heaters
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
$79,811
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
4.03%
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%
$1,596,220
$1.6M
Cap Rate 7%
$1,140,157
$1.1M
Cap Rate 9%
$886,789
$886.8K
Market Conditions
NOI Build-Up for 3,265 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
$150.8K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$145.1K $44.44/SF
− OpEx
−$65.3K −$20.00/SF
NOI
$79.8K $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%
$1,596,220
Cap Rate 7%
$1,140,157
Cap Rate 9%
$886,789
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$997.6K – $1.33M
NOI $79,811 @ 7.0% cap · market cap 4.03%
Second Best
Multifamily LT 5
$772.0K
$675.5K – $900.7K
NOI $54,041 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,490 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,918
Businesses Nearby
Explore this area
Business Placement
Demographics for 11419, NY
47,430
Population
13,607
Households
3.5
Avg Household Size
39
Median Age
21%
College-Educated
73%
High-School Grad
1.1 sq mi
ZIP Area
43,118
Density / Sq Mi
$91,231
Median Household Income
$41,091
Median Earnings
$1,920
Median Rent
$678,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Tenant-occupied property with updated kitchens, separate gas heating, and rear balcony space.
Where is this duplex located?
The property is located at 101-64 123 Street South Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: Two‑family brick residence built in 1965; Fully tenant occupied with a reported 5.5% cap rate; Two new kitchens and two separate new gas heaters
