Two-Family Home with Finished
New
For Sale
$999,000
10418 89th Avenue, Richmond Hill, NY 11418
A second-floor apartment is occupied, while the first-floor residence extends into the basement as a duplex.
Property Size1,700 SF
Price / SF$587.65
Days on Market5
Property Features for 10418 89th Avenue
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,455
Amenities
private backyard
finished basement
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
1,700 SF
Year Built
1910
Buildings
1
Units
2
Listing Agency:
Thomas S. Hennerty
Listed By:
Thomas S. Hennerty · License #3590613
(703) 352-4663
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:16PM
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 Thomas S. Hennerty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-family home contains a 3-bedroom, 1-full-bath and 1-half-bath apartment on the second floor, plus a 2-bedroom, 2-full-bath duplex spanning the first floor and basement. The second-floor unit is occupied by tenants. The finished basement has a separate entrance and includes a kitchen area. Interior features include hardwood floors, recessed lighting, updated kitchens and bathrooms, modern cabinetry, and updated appliances. A private backyard adds outdoor space.
A major renovation was completed approximately five years ago, with work to the roof, walls, interior finishes, plumbing, electrical and mechanical systems, kitchens, and bathrooms. The property is in Richmond Hill, with public transportation, trains, buses, shopping, restaurants, schools, and houses of worship among the area’s stated amenities.
A major renovation was completed approximately five years ago, with work to the roof, walls, interior finishes, plumbing, electrical and mechanical systems, kitchens, and bathrooms. The property is in Richmond Hill, with public transportation, trains, buses, shopping, restaurants, schools, and houses of worship among the area’s stated amenities.
Key Highlights
- Two‑family layout with a 3‑bedroom second‑floor apartment and a 2‑bedroom first‑floor‑and‑basement duplex
- Second‑floor apartment is occupied by tenants
- Major renovation completed approximately five years ago, including roof, plumbing, electrical, and mechanical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,556
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,120
$831.1K
Cap Rate 7%
$593,657
$593.7K
Cap Rate 9%
$461,733
$461.7K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$78.5K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$75.6K $44.44/SF
− OpEx
−$34.0K −$20.00/SF
NOI
$41.6K $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 Rate 5%
$831,120
Cap Rate 7%
$593,657
Cap Rate 9%
$461,733
Alternative Uses
Best Use
Apartment 5plus
$593.7K
$519.5K – $692.6K
NOI $41,556 @ 7.0% cap · market cap 4.16%
Second Best
Multifamily LT 5
$402.0K
$351.7K – $469.0K
NOI $28,138 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,728 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,442
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A second-floor apartment is occupied, while the first-floor residence extends into the basement as a duplex.
Where is this duplex located?
The property is located at 10418 89th Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑family layout with a 3‑bedroom second‑floor apartment and a 2‑bedroom first‑floor‑and‑basement duplex; Second‑floor apartment is occupied by tenants; Major renovation completed approximately five years ago, including roof, plumbing, electrical, and mechanical systems
