Two-Unit Duplex with Finished
For Sale
$849,000
10441 92nd Avenue, Richmond Hill, NY 11418
Semi-attached property with two-bedroom layouts, private outdoor space, and R3-1 zoning.
Property Size2,059 SF
Price / SF$412.34
Days on Market14
Property Features for 10441 92nd Avenue
General Information
Standard status
Active
Size
2,059 SF
Property subtype
Duplex
Zoning
R3-1
Property Condition
Severity
Repairs Needed
Evidence
need updating and tlc
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,312
Amenities
finished basement
private backyard
Building Details
Building Size
2,059 SF
Year Built
1920
Construction
semi-attached
Listing Agency:
RE/MAX Team
(516) 603-8870
Listed By:
Marc G. Windheuser · License #10301205401
Source:
Cbwarburg
Added: Aug 11
Changed: Aug 24
Last Checked: Aug 23 at 8:04AM
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 RE/MAX Team
Investment Insights
Based on property information with market context.
This semi-attached duplex contains two separate living units, each arranged with 2 bedrooms, 1 full bathroom, a kitchen, formal dining room, and living area. A finished basement adds usable interior space, while the private backyard provides an additional outdoor area. The property requires updating and TLC, offering a renovation-focused configuration for an owner seeking to customize the interiors. Located at 10441 92nd Ave in Richmond Hill, NY, the home carries R3-1 zoning and is set up for two-family residential use. Its unit layout can accommodate separate households within one building, subject to applicable zoning and occupancy requirements.
Key Highlights
- Two separate residential units, each with 2 bedrooms and 1 full bathroom
- Each unit includes a kitchen, formal dining room, and living area
- Finished basement provides additional usable interior 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
$50,331
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
5.93%
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%
$1,006,620
$1.0M
Cap Rate 7%
$719,014
$719.0K
Cap Rate 9%
$559,233
$559.2K
Market Conditions
NOI Build-Up for 2,059 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
$95.1K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.5K $44.44/SF
− OpEx
−$41.2K −$20.00/SF
NOI
$50.3K $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%
$1,006,620
Cap Rate 7%
$719,014
Cap Rate 9%
$559,233
Alternative Uses
Best Use
Apartment 5plus
$719.0K
$629.1K – $838.9K
NOI $50,331 @ 7.0% cap · market cap 5.93%
Second Best
Multifamily LT 5
$486.9K
$426.0K – $568.0K
NOI $34,080 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,254 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Semi-attached property with two-bedroom layouts, private outdoor space, and R3-1 zoning.
Where is this duplex located?
The property is located at 10441 92nd Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two separate residential units, each with 2 bedrooms and 1 full bathroom; Each unit includes a kitchen, formal dining room, and living area; Finished basement provides additional usable interior space
