Two-Family Duplex with Finished
New
For Sale
$1,200,000
10310 35th Avenue, Corona, NY 11368
Two residential units include separate entrances, bedroom layouts, and access to a backyard from the first-floor apartment.
Property Size1,926 SF
Price / SF$623.05
Days on Market5
Property Features for 10310 35th Avenue
General Information
Standard status
Active
Size
1,926 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,132
Building Details
Building Size
1,926 SF
Year Built
1920
Buildings
1
Listing Agency:
EXP Realty
(347) 285-0638
Listed By:
Gertrudis Jimenez
Source:
Cbwarburg
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:31PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This two-family duplex, built in 1920, includes a 3-bedroom apartment on the first floor and a 4-bedroom apartment above. The lower unit has access to the backyard, while the finished basement includes its own entrance. The configuration supports both owner-occupancy and rental use without adding unsupported assumptions about layout or operations.
The property is in North Corona, near public transportation and regional travel connections. The 7 train is approximately a 10-minute walk away, bus service is one block from the property, and LaGuardia Airport is about a 5-minute drive. The location is in Corona, NY 11368.
The property is in North Corona, near public transportation and regional travel connections. The 7 train is approximately a 10-minute walk away, bus service is one block from the property, and LaGuardia Airport is about a 5-minute drive. The location is in Corona, NY 11368.
Key Highlights
- Two‑family duplex with 3‑bedroom and 4‑bedroom apartments
- Finished basement with separate entrance
- First‑floor apartment includes backyard access
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
$47,080
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
3.92%
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%
$941,600
$941.6K
Cap Rate 7%
$672,571
$672.6K
Cap Rate 9%
$523,111
$523.1K
Market Conditions
NOI Build-Up for 1,926 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
$89.0K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$85.6K $44.44/SF
− OpEx
−$38.5K −$20.00/SF
NOI
$47.1K $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%
$941,600
Cap Rate 7%
$672,571
Cap Rate 9%
$523,111
Alternative Uses
Best Use
Apartment 5plus
$672.6K
$588.5K – $784.7K
NOI $47,080 @ 7.0% cap · market cap 3.92%
Second Best
Multifamily LT 5
$455.4K
$398.5K – $531.3K
NOI $31,878 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,391 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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 residential units include separate entrances, bedroom layouts, and access to a backyard from the first-floor apartment.
Where is this duplex located?
The property is located at 10310 35th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑family duplex with 3‑bedroom and 4‑bedroom apartments; Finished basement with separate entrance; First‑floor apartment includes backyard access
