Astoria Two-Family
For Sale
$1,599,000
Pending
25-68 34th St Building, Queens, NY 11103
Two-family house in a sought-after Astoria location.
Property Size2,244 SF
Lot Size0.04 Acres
Days on Market165
Property Features for 25-68 34th St Building
General Information
Standard status
Pending
Size
2,244 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,471
Building Details
Building Size
2,244 SF
Year Built
1920
Listing Agency:
MODERN SPACES LOVE YOUR PLACE
(718) 784-1110
Listed By:
Gregory Kyroglou
(718) 784-1110
Source:
Elliman
Added: Mar 12
Changed: Aug 19
Last Checked: Aug 23 at 7:09AM
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 MODERN SPACES LOVE YOUR PLACE
Investment Insights
Based on property information with market context.
Located in Astoria, this two-family house presents an opportunity for homebuyers and investors. The property features two spacious units, each designed with its own unique charm. The backyard offers an outdoor space for relaxation. Astoria is known for its culture, culinary scene, and artistic community. The location provides access to restaurants, cafes, boutiques, and cultural events. Major transportation options, including the N/W subway lines and bus routes, offer access to Manhattan and beyond. Astoria, in the borough of Queens, is a neighborhood known for its cultural heritage, food scene, and artistic community. The location provides urban living within a community. Astoria offers cultures from around the world, parks, waterfront views, historic landmarks, and nightlife.
Key Highlights
- Prime Astoria Location: Sought‑after neighborhood with easy access to amenities and attractions.
- Two Spacious Units: Ideal for extended families, rental income, or investment.
- Easy Commute: Proximity to N/W subway lines and bus routes for access to Manhattan.
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
$54,853
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
3.43%
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%
$1,097,060
$1.1M
Cap Rate 7%
$783,614
$783.6K
Cap Rate 9%
$609,478
$609.5K
Market Conditions
NOI Build-Up for 2,244 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
$103.7K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$99.7K $44.44/SF
− OpEx
−$44.9K −$20.00/SF
NOI
$54.9K $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%
$1,097,060
Cap Rate 7%
$783,614
Cap Rate 9%
$609,478
Alternative Uses
Best Use
Apartment 5plus
$783.6K
$685.7K – $914.2K
NOI $54,853 @ 7.0% cap · market cap 3.43%
Second Best
Multifamily LT 5
$530.6K
$464.3K – $619.0K
NOI $37,142 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,801 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
91,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
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 house in a sought-after Astoria location.
Where is this duplex located?
The property is located at 25-68 34th St Building Queens, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Prime Astoria Location: Sought‑after neighborhood with easy access to amenities and attractions.; Two Spacious Units: Ideal for extended families, rental income, or investment.; Easy Commute: Proximity to N/W subway lines and bus routes for access to Manhattan.
