Renovated Detached
For Sale
$1,349,000
119-20 193rd Street, Saint Albans, NY 11412
Two updated residential units offer matching bedroom and bathroom layouts, stainless steel kitchens, basement space, and a garage.
Property Size2,320 SF
Lot Size0.14 Acres
Days on Market63
Property Features for 119-20 193rd Street
General Information
Standard status
Active
Size
2,320 SF
Total Parking Spaces
1
Lot size
0.14 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,605
Amenities
stainless steel appliances
finished basement
separate entrance
outdoor space
Building Details
Building Size
2,320 SF
Year Built
1930
Buildings
1
Units
2
Listing Agency:
Homes NYC Group Inc
(347) 236-6136
Listed By:
Mamadu Barrie
(347) 236-6136
Source:
Mahlerrealty
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 30 at 5:43PM
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 Homes NYC Group Inc
Investment Insights
Based on property information with market context.
This fully detached duplex contains two three-bedroom, two-bathroom units, each with a modern kitchen fitted with stainless steel appliances. The property has undergone a full renovation and includes a finished basement with two rooms and its own separate entrance. A garage and substantial outdoor area add practical utility to the home.
Set on an oversized 60-by-100-foot lot, the residence was built in 1930 and combines updated interiors with a detached two-family configuration. The layout supports owner occupancy alongside rental income from the second unit, subject to applicable requirements.
Set on an oversized 60-by-100-foot lot, the residence was built in 1930 and combines updated interiors with a detached two-family configuration. The layout supports owner occupancy alongside rental income from the second unit, subject to applicable requirements.
Key Highlights
- Detached two‑family property with two 3‑bedroom, 2‑bathroom units
- Fully renovated interiors with stainless steel kitchen appliances
- Finished basement includes two rooms and a separate entrance
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
$56,711
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
4.20%
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%
$1,134,220
$1.1M
Cap Rate 7%
$810,157
$810.2K
Cap Rate 9%
$630,122
$630.1K
Market Conditions
NOI Build-Up for 2,320 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
$107.2K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$103.1K $44.44/SF
− OpEx
−$46.4K −$20.00/SF
NOI
$56.7K $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%
$1,134,220
Cap Rate 7%
$810,157
Cap Rate 9%
$630,122
Alternative Uses
Best Use
Apartment 5plus
$810.2K
$708.9K – $945.2K
NOI $56,711 @ 7.0% cap · market cap 4.20%
Second Best
Multifamily LT 5
$548.6K
$480.0K – $640.0K
NOI $38,400 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,723 @ 7.0% cap · market cap 8.87%
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
920
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
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 updated residential units offer matching bedroom and bathroom layouts, stainless steel kitchens, basement space, and a garage.
Where is this duplex located?
The property is located at 119-20 193rd Street Saint Albans, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Detached two‑family property with two 3‑bedroom, 2‑bathroom units; Fully renovated interiors with stainless steel kitchen appliances; Finished basement includes two rooms and a separate entrance
