Colonial Multifamily
New
For Sale
$1,250,000
10638 97th Street, Ozone Park, NY 11417
Multifamily property with private parking, a full front yard, and walk-out access.
Property Size1,750 SF
Days on Market7
Property Features for 10638 97th Street
General Information
Standard status
Active
Size
1,750 SF
Total Parking Spaces
1
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,064
Amenities
Wall/Window Unit(s)
Hot Water, Natural Gas, Other
Full, Walk-Out Access
Other
Neighborhood
Front Yard, Full
Off Street, Private
Lighting, Rain Gutters
Colonial
Building Details
Building Size
1,750 SF
Year Built
1920
Listing Agency:
(718) 664-8826
Listed By:
Michele Sciaretta C2EX PSA SFR ABR
(718) 664-8826
Source:
Evrealestate
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 16 at 4:34AM
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 Michele Sciaretta C2EX PSA SFR ABR
Investment Insights
Based on property information with market context.
Located at 10638 97th Street in Ozone Park, Queens, this Colonial multifamily property was built in 1920. Interior features include wall/window units, hot water service using natural gas and other fuel, and full walk-out access.
The property includes a full front yard, private off-street parking, exterior lighting, and rain gutters. Its New York location is identified as Ozone Park, NY 11417.
The property includes a full front yard, private off-street parking, exterior lighting, and rain gutters. Its New York location is identified as Ozone Park, NY 11417.
Key Highlights
- 1920‑built Colonial multifamily property
- Full walk‑out access
- Private off‑street parking
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
$42,778
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
3.42%
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%
$855,560
$855.6K
Cap Rate 7%
$611,114
$611.1K
Cap Rate 9%
$475,311
$475.3K
Market Conditions
NOI Build-Up for 1,750 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
$80.9K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$77.8K $44.44/SF
− OpEx
−$35.0K −$20.00/SF
NOI
$42.8K $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%
$855,560
Cap Rate 7%
$611,114
Cap Rate 9%
$475,311
Alternative Uses
Best Use
Apartment 5plus
$611.1K
$534.7K – $713.0K
NOI $42,778 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,308 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,090
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with private parking, a full front yard, and walk-out access.
Where is this multifamily property located?
The property is located at 10638 97th Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1920‑built Colonial multifamily property; Full walk‑out access; Private off‑street parking
