Two-Family Home with Finished
For Sale
$1,145,000
94-67 44th Avenue, Queens, NY 11373
Duplex residence with a finished lower level, separate hot water heating, and convenient access to public transportation and neighborhood services.
Property Size2,850 SF
Price / SF$401.75
Days on Market617
Property Features for 94-67 44th Avenue
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,729
Amenities
Finished Basement
Backyard
Side Entrance
Building Details
Building Size
2,850 SF
Year Built
1910
Buildings
1
Listing Agency:
Laffey Real Estate NYC LLC
Listed By:
Philip C Laffey · License #10491206601
(516) 626-1500
Source:
Philipscheinfeld
Added: Jan 15, 2025
Changed: Sep 23
Last Checked: Sep 24 at 4:58PM
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 Real Estate NYC LLC
Investment Insights
Based on property information with market context.
This 2,850 SF duplex, built in 1910, is configured as a two-family residence with spacious rooms and a finished basement that connects to the backyard. A side entry provides direct access to the first-floor level, while separate hot water heaters support the property’s two-family layout. Recent improvements include a roof and siding installed approximately 5 years ago, along with additional renovations.
The property is served by nearby public transportation, including the 7 train and Q58 and Q72 bus routes. Supermarkets, restaurants, department stores, parks, schools, hospitals, and a local precinct are also located in the surrounding area.
The property is served by nearby public transportation, including the 7 train and Q58 and Q72 bus routes. Supermarkets, restaurants, department stores, parks, schools, hospitals, and a local precinct are also located in the surrounding area.
Key Highlights
- 2,850 SF duplex configured as a two‑family residence
- Finished basement with access to the backyard
- Side entrance provides direct access to the first‑floor level
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
$69,667
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
6.08%
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%
$1,393,340
$1.4M
Cap Rate 7%
$995,243
$995.2K
Cap Rate 9%
$774,078
$774.1K
Market Conditions
NOI Build-Up for 2,850 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
$131.7K $46.20/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$126.7K $44.44/SF
− OpEx
−$57.0K −$20.00/SF
NOI
$69.7K $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%
$1,393,340
Cap Rate 7%
$995,243
Cap Rate 9%
$774,078
Alternative Uses
Best Use
Apartment 5plus
$995.2K
$870.8K – $1.16M
NOI $69,667 @ 7.0% cap · market cap 6.08%
Second Best
Multifamily LT 5
$673.9K
$589.7K – $786.2K
NOI $47,172 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,074 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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 - Duplex residence with a finished lower level, separate hot water heating, and convenient access to public transportation and neighborhood services.
Where is this duplex located?
The property is located at 94-67 44th Avenue Queens, NY.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: 2,850 SF duplex configured as a two‑family residence; Finished basement with access to the backyard; Side entrance provides direct access to the first‑floor level
