Two-Family Home on Double
For Sale
$995,000
Pending
97-30 127th St, Queens, NY 11419
Two-family home on a double lot with commercial overlay.
Property Size1,755 SF
Lot Size0.09 Acres
Days on Market269
Property Features for 97-30 127th St
General Information
Standard status
Pending
Size
1,755 SF
Lot size
0.09 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,180
Building Details
Building Size
1,755 SF
Year Built
1910
Stories
2
Units
1
Listing Agency:
(917) 282-2074
Listed By:
SANDRA N FRANK
(917) 282-2074
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 24 at 6:40AM
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 SANDRA N FRANK
Investment Insights
Based on property information with market context.
This legal two-family home is situated on a double lot spanning 4,037 square feet, potentially allowing for the construction of an additional 2,300 square feet. The area features a commercial overlay, offering the possibility of operating a business from the property while residing above. The property includes a large garden and a three-car driveway. The property is currently occupied but can be delivered vacant. The possibilities are endless.
Key Highlights
- Double lot (4037 Sq ft) with potential to build an additional 2,300 sq ft
- Legal two‑family home
- Commercial overlay allows for running a business from the property
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
$42,900
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
4.31%
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%
$858,000
$858.0K
Cap Rate 7%
$612,857
$612.9K
Cap Rate 9%
$476,667
$476.7K
Market Conditions
NOI Build-Up for 1,755 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
$81.1K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$78.0K $44.44/SF
− OpEx
−$35.1K −$20.00/SF
NOI
$42.9K $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%
$858,000
Cap Rate 7%
$612,857
Cap Rate 9%
$476,667
Alternative Uses
Best Use
Apartment 5plus
$612.9K
$536.3K – $715.0K
NOI $42,900 @ 7.0% cap · market cap 4.31%
Second Best
Multifamily LT 5
$415.0K
$363.1K – $484.1K
NOI $29,048 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,566 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,273
Businesses Nearby
Explore this area
Business Placement
Demographics for 11419, NY
47,430
Population
13,607
Households
3.5
Avg Household Size
39
Median Age
21%
College-Educated
73%
High-School Grad
1.1 sq mi
ZIP Area
43,118
Density / Sq Mi
$91,231
Median Household Income
$41,091
Median Earnings
$1,920
Median Rent
$678,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home on a double lot with commercial overlay.
Where is this duplex located?
The property is located at 97-30 127th St Queens, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Double lot (4037 Sq ft) with potential to build an additional 2,300 sq ft; Legal two‑family home; Commercial overlay allows for running a business from the property
