Two-Family Duplex with Finished
For Sale
$679,000
Pending
87-84 160th Street, Jamaica, NY 11432
Configured with two kitchens, multiple living and dining areas, and seven bedrooms across the residence.
Property Size2,208 SF
Days on Market632
Property Features for 87-84 160th Street
General Information
Standard status
Pending
Size
2,208 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,076
Building Details
Year Built
1910
Listing Agency:
Exit Realty Prime
(718) 262-0205
Listed By:
Mohammed M. Miah · License #10401377841
(516) 288-8881
Source:
Exitrealty
Added: Dec 10, 2024
Changed: Sep 2
Last Checked: Sep 2 at 6:04PM
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 Exit Realty Prime
Investment Insights
Based on property information with market context.
This duplex is arranged as a two-family residence with 7 bedrooms and 5 full bathrooms. The property includes 2 living rooms, 2 dining rooms, and 2 kitchens, along with a full finished basement containing an additional full bathroom. Built in 1910, the home is being offered in as-is condition.
Located at 87-84 160th Street in Jamaica, the property is near bus service, public transportation, shops, and other community amenities. Its multi-bedroom layout and two-kitchen configuration provide the physical elements of a two-family residential property.
Located at 87-84 160th Street in Jamaica, the property is near bus service, public transportation, shops, and other community amenities. Its multi-bedroom layout and two-kitchen configuration provide the physical elements of a two-family residential property.
Key Highlights
- Two‑family duplex configuration
- 7 bedrooms and 5 full bathrooms
- 2 living rooms and 2 dining rooms
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
$53,973
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
7.95%
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%
$1,079,460
$1.1M
Cap Rate 7%
$771,043
$771.0K
Cap Rate 9%
$599,700
$599.7K
Market Conditions
NOI Build-Up for 2,208 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
$102.0K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$98.1K $44.44/SF
− OpEx
−$44.2K −$20.00/SF
NOI
$54.0K $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%
$1,079,460
Cap Rate 7%
$771,043
Cap Rate 9%
$599,700
Alternative Uses
Best Use
Apartment 5plus
$771.0K
$674.7K – $899.6K
NOI $53,973 @ 7.0% cap · market cap 7.95%
Second Best
Multifamily LT 5
$522.1K
$456.8K – $609.1K
NOI $36,546 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,943 @ 7.0% cap · market cap 16.78%
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
2,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
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 - Configured with two kitchens, multiple living and dining areas, and seven bedrooms across the residence.
Where is this duplex located?
The property is located at 87-84 160th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Two‑family duplex configuration; 7 bedrooms and 5 full bathrooms; 2 living rooms and 2 dining rooms
