Astoria Two-Family Home For
For Sale
$1,240,000
Pending
3321 13th St, Queens, NY 11106
Two-family home in Astoria's waterfront arts district.
Property Size2,262 SF
Lot Size0.03 Acres
Days on Market261
Property Features for 3321 13th St
General Information
Standard status
Pending
Size
2,262 SF
Lot size
0.03 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$3,748
Building Details
Building Size
2,262 SF
Year Built
1996
Units
2
Listing Agency:
Adam Street Realty LLC
(914) 969-6960
Listed By:
Lawrence O. King Jr
(914) 969-6960
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 15 at 8:42AM
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 Adam Street Realty LLC
Investment Insights
Based on property information with market context.
This two-family home is located in Astoria's waterfront arts district. The owner's duplex includes 3 bedrooms and 2 bathrooms. The top-floor apartment features 2 bedrooms and 1 bathroom, suitable for rental income or extended family. The property was built in 1996. It includes two assigned parking spaces, along with fenced front and back yards. The property is located minutes from Socrates Sculpture Park, the Noguchi Museum, the NYC Ferry, and the N/W subway line, providing access to Manhattan.
Key Highlights
- Prime location in Astorias sought‑after waterfront arts district.
- Two‑family home offering rental income potential or space for extended family.
- Owners duplex with 3 bedrooms and 2 baths.**
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
$55,293
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
4.46%
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%
$1,105,860
$1.1M
Cap Rate 7%
$789,900
$789.9K
Cap Rate 9%
$614,367
$614.4K
Market Conditions
NOI Build-Up for 2,262 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
$104.5K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$100.5K $44.44/SF
− OpEx
−$45.2K −$20.00/SF
NOI
$55.3K $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%
$1,105,860
Cap Rate 7%
$789,900
Cap Rate 9%
$614,367
Alternative Uses
Best Use
Apartment 5plus
$789.9K
$691.2K – $921.6K
NOI $55,293 @ 7.0% cap · market cap 4.46%
Second Best
Multifamily LT 5
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,730 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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 home in Astoria's waterfront arts district.
Where is this duplex located?
The property is located at 3321 13th St Queens, NY.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: Prime location in Astorias sought‑after waterfront arts district.; Two‑family home offering rental income potential or space for extended family.; Owners duplex with 3 bedrooms and 2 baths.**
