Multi-Unit Residential Income
For Sale
$1,275,000
118-12 190th Street, Saint Albans, NY 11412
Residential property with a finished basement, fenced yard, driveway, storage, and garden space.
Property Size2,390 SF
Days on Market27
Property Features for 118-12 190th Street
General Information
Standard status
Active
Size
2,390 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,864
Amenities
Multi Units
Baseboard, Natural Gas
Finished, Full
Eat-in Kitchen, Kitchen Island, Natural Woodwork, Open Floorplan, Stone Counters
Fenced, Back Yard, Full
Driveway, Storage
Garden
A-Frame, Colonial
Building Details
Building Size
2,390 SF
Year Built
1925
Listing Agency:
Success King Realty
(917) 939-6235
Listed By:
Katia Santesteban
(917) 939-6235
Source:
Evrealestate
Added: Jul 29
Changed: Aug 21
Last Checked: Aug 24 at 3:52AM
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 Success King Realty
Investment Insights
Based on property information with market context.
This multi-unit residential property at 118-12 190th Street in Saint Albans, Queens, was built in 1925. The interior includes a finished full basement, eat-in kitchen, kitchen island, natural woodwork, open floorplan, and stone counters. Baseboard heating is powered by natural gas.
Exterior features include a full fenced backyard, driveway, storage, and garden space. The property’s architectural styles are identified as A-Frame and Colonial, providing a distinct residential character within the existing structure.
Exterior features include a full fenced backyard, driveway, storage, and garden space. The property’s architectural styles are identified as A-Frame and Colonial, providing a distinct residential character within the existing structure.
Key Highlights
- Multi‑unit residential property built in 1925
- Finished full basement
- Baseboard heating powered by natural gas
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
$58,422
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
4.58%
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%
$1,168,440
$1.2M
Cap Rate 7%
$834,600
$834.6K
Cap Rate 9%
$649,133
$649.1K
Market Conditions
NOI Build-Up for 2,390 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
$110.4K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$106.2K $44.44/SF
− OpEx
−$47.8K −$20.00/SF
NOI
$58.4K $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%
$1,168,440
Cap Rate 7%
$834,600
Cap Rate 9%
$649,133
Alternative Uses
Best Use
Apartment 5plus
$834.6K
$730.3K – $973.7K
NOI $58,422 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,335 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 11412, NY
37,958
Population
12,821
Households
3
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
23,724
Density / Sq Mi
$98,418
Median Household Income
$48,243
Median Earnings
$1,630
Median Rent
$633,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential property with a finished basement, fenced yard, driveway, storage, and garden space.
Where is this residential income property located?
The property is located at 118-12 190th Street Saint Albans, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Multi‑unit residential property built in 1925; Finished full basement; Baseboard heating powered by natural gas
