Updated Multifamily Home with
For Sale
$1,300,000
Pending
45 James St, Inwood, NY 11096
Updated 10-bedroom multifamily home with finished basement and driveway.
Property Size2,738 SF
Days on Market84
Property Features for 45 James St
General Information
Standard status
Pending
Size
2,738 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,945
Building Details
Building Size
2,738 SF
Year Built
1935
Units
3
Listing Agency:
Laffey International Realt Estate
(516) 652-7099
Listed By:
Irene N. Steiner
(516) 652-7099
Source:
Elliman
Added: May 20
Changed: Aug 9
Last Checked: Aug 11 at 10:20AM
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 Laffey International Realt Estate
Investment Insights
Based on property information with market context.
This updated multifamily home presents an opportunity for investors and end users. The property features 10 bedrooms and 4 bathrooms across 3 units. A large finished basement includes a separate outside entrance. The property also offers a private backyard and a driveway. The location provides convenient access to transportation, the Long Island Rail Road (LIRR), roadways, the airport, bus lines, and religious institutions. The property is located in a very walkable area, with a walk score of 85, and a bikeable area, with a bike score of 58.
Key Highlights
- Updated 10 bedroom, 4 bathroom, 3 family home
- Large finished basement with separate outside entrance
- Private backyard and driveway
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
$66,929
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
5.15%
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%
$1,338,580
$1.3M
Cap Rate 7%
$956,129
$956.1K
Cap Rate 9%
$743,656
$743.7K
Market Conditions
NOI Build-Up for 2,738 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
$126.5K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$121.7K $44.44/SF
− OpEx
−$54.8K −$20.00/SF
NOI
$66.9K $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%
$1,338,580
Cap Rate 7%
$956,129
Cap Rate 9%
$743,656
Alternative Uses
Best Use
Apartment 5plus
$956.1K
$836.6K – $1.12M
NOI $66,929 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.35M
NOI $141,294 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 11096, NY
9,645
Population
2,706
Households
3.6
Avg Household Size
33
Median Age
28%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
8,038
Density / Sq Mi
$88,160
Median Household Income
$40,754
Median Earnings
$1,944
Median Rent
$604,900
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?
Apartment building - Updated 10-bedroom multifamily home with finished basement and driveway.
Where is this apartment building located?
The property is located at 45 James St Inwood, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Updated 10 bedroom, 4 bathroom, 3 family home; Large finished basement with separate outside entrance; Private backyard and driveway
