Large Detached Two-Family
For Sale
$1,375,000
119-14 89th Ave, Queens, NY 11418
Two-family house with driveway, garage, and finished attic.
Property Size2,451 SF
Lot Size0.09 Acres
Days on Market267
Property Features for 119-14 89th Ave
General Information
Standard status
Active
Size
2,451 SF
Lot size
0.09 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,208
Building Details
Building Size
2,451 SF
Year Built
1910
Units
2
Listing Agency:
(718) 805-0075
Listed By:
Hiralall Daiowraj
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 22 at 11:39AM
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 Hiralall Daiowraj
Investment Insights
Based on property information with market context.
This large, fully detached two-family house features a private driveway and garage. The first floor includes three bedrooms, a living room, a dining room, and two full bathrooms, along with an open porch. The second floor offers two bedrooms, a living room, an eat-in kitchen, a full bathroom, and an open deck. The attic is fully finished. The basement includes a half bath, a boiler room, and two additional rooms. The property is located near shops, parks, and schools, with access to public and private transportation, including the A, J, and Z subway lines. This property presents an opportunity for homeownership or investment.
Key Highlights
- Detached 2‑family house with private driveway and garage
- Conveniently located near shops, parks, public and private schools
- Easy access to public transportation (buses and A, J, Z subway lines)
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
$59,913
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
4.36%
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%
$1,198,260
$1.2M
Cap Rate 7%
$855,900
$855.9K
Cap Rate 9%
$665,700
$665.7K
Market Conditions
NOI Build-Up for 2,451 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
$113.2K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$108.9K $44.44/SF
− OpEx
−$49.0K −$20.00/SF
NOI
$59.9K $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%
$1,198,260
Cap Rate 7%
$855,900
Cap Rate 9%
$665,700
Alternative Uses
Best Use
Apartment 5plus
$855.9K
$748.9K – $998.6K
NOI $59,913 @ 7.0% cap · market cap 4.36%
Second Best
Multifamily LT 5
$579.5K
$507.1K – $676.1K
NOI $40,568 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,483 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,923
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 - Two-family house with driveway, garage, and finished attic.
Where is this duplex located?
The property is located at 119-14 89th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Detached 2‑family house with private driveway and garage; Conveniently located near shops, parks, public and private schools; Easy access to public transportation (buses and A, J, Z subway lines)
