Multi-Unit Residential Income
For Sale
$749,000
10339 91st Street, Ozone Park, NY 11417
Residential income property with multiple units, private driveway, and gas-fired radiant heat.
Property Size1,080 SF
Days on Market110
Property Features for 10339 91st Street
General Information
Standard status
Active
Size
1,080 SF
Total Parking Spaces
3
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,555
Amenities
Multi Units, Wall/Window Unit(s)
Natural Gas, Radiant
Eat-in Kitchen
Driveway, Private
Rain Gutters
Building Details
Building Size
1,080 SF
Year Built
1950
Listing Agency:
Keller Williams Realty Liberty
Listed By:
Paul Deo CBR
(718) 848-4700
Source:
Evrealestate
Added: Jun 2
Changed: Sep 7
Last Checked: Sep 19 at 6:41AM
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 Keller Williams Realty Liberty
Investment Insights
Based on property information with market context.
This residential income property was built in 1950 and is configured for multiple units. Interior features include eat-in kitchen space, natural gas service, radiant heat, and wall or window air-conditioning units. The property also includes a private driveway and rain gutters.
Key Highlights
- Multi‑unit residential income property
- Built in 1950
- Private driveway
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
$26,400
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
3.52%
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%
$528,000
$528.0K
Cap Rate 7%
$377,143
$377.1K
Cap Rate 9%
$293,333
$293.3K
Market Conditions
NOI Build-Up for 1,080 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
$49.9K $46.20/SF
− Vacancy
−$1.9K −$1.76/SF
EGI
$48.0K $44.44/SF
− OpEx
−$21.6K −$20.00/SF
NOI
$26.4K $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%
$528,000
Cap Rate 7%
$377,143
Cap Rate 9%
$293,333
Alternative Uses
Best Use
Apartment 5plus
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$796.2K
$696.7K – $928.9K
NOI $55,733 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,480
Businesses Nearby
Explore this area
Business Placement
Demographics for 11417, NY
31,229
Population
9,855
Households
3.2
Avg Household Size
38
Median Age
25%
College-Educated
78%
High-School Grad
1.1 sq mi
ZIP Area
28,390
Density / Sq Mi
$86,330
Median Household Income
$42,193
Median Earnings
$1,853
Median Rent
$731,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income property with multiple units, private driveway, and gas-fired radiant heat.
Where is this residential income property located?
The property is located at 10339 91st Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Multi‑unit residential income property; Built in 1950; Private driveway
