Duplex with Private
For Sale
$739,000
10440 89th Avenue, Richmond Hill, NY 11418
Includes garage space, additional storage, and a shed supporting practical household and outdoor use.
Property Size1,344 SF
Days on Market157
Property Features for 10440 89th Avenue
General Information
Standard status
Active
Size
1,344 SF
Total Parking Spaces
1
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,067
Building Details
Building Size
1,344 SF
Year Built
1920
Units
2
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Jose A. Velez
(646) 457-0613
Source:
Millenniumhomes
Added: Apr 16
Changed: Sep 18
Last Checked: Sep 18 at 2:41PM
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 NYC Grp
Investment Insights
Based on property information with market context.
This duplex, built in 1920, offers three bedrooms and one and a half baths across a residential layout with distinct living areas. The kitchen provides functional preparation space and connects with the main living areas. A garage accommodates one car and includes additional storage capacity.
Outdoor features include a private yard and a shed that can serve as storage, hobby space, or a workspace. Together, these improvements provide useful indoor and exterior functionality for the property.
Outdoor features include a private yard and a shed that can serve as storage, hobby space, or a workspace. Together, these improvements provide useful indoor and exterior functionality for the property.
Key Highlights
- Three‑bedroom, 1.5‑bath duplex
- Built in 1920
- One‑car garage with additional storage space
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
$32,853
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
4.45%
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%
$657,060
$657.1K
Cap Rate 7%
$469,329
$469.3K
Cap Rate 9%
$365,033
$365.0K
Market Conditions
NOI Build-Up for 1,344 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
$62.1K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$59.7K $44.44/SF
− OpEx
−$26.9K −$20.00/SF
NOI
$32.9K $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%
$657,060
Cap Rate 7%
$469,329
Cap Rate 9%
$365,033
Alternative Uses
Best Use
Apartment 5plus
$469.3K
$410.7K – $547.6K
NOI $32,853 @ 7.0% cap · market cap 4.45%
Second Best
Multifamily LT 5
$317.8K
$278.1K – $370.8K
NOI $22,245 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$990.8K
$867.0K – $1.16M
NOI $69,357 @ 7.0% cap · market cap 9.39%
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
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Includes garage space, additional storage, and a shed supporting practical household and outdoor use.
Where is this duplex located?
The property is located at 10440 89th Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Three‑bedroom, 1.5‑bath duplex; Built in 1920; One‑car garage with additional storage space
