Well-Maintained Apartment Near
For Sale
$360,000
Pending
144-30 Sanford Ave 5, Queens, NY 11355
1-bedroom apartment near 7 train, LIRR, Main Street.
Property Size750 SF
Days on Market270
Property Features for 144-30 Sanford Ave 5
General Information
Standard status
Pending
Size
750 SF
Property subtype
Residential
Building Details
Building Size
750 SF
Year Built
1960
Listing Agency:
(718) 795-7826
Listed By:
Wei Chen · License #10401376892
(718) 795-7826
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 22
Last Checked: Aug 24 at 7:32AM
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 Wei Chen
Investment Insights
Based on property information with market context.
This well-maintained apartment features one bedroom and one bathroom and is located on the 5th floor. The floor plan is thoughtfully designed, including a spacious living room and a dining-friendly kitchen. The large living room is spacious enough to be used as a 2-bedroom layout while maintaining a cozy atmosphere. Ample closet space provides convenient storage. A laundry room is located on the first floor, and parking is available with a waiting list. Subletting is allowed after two years of ownership. The apartment is located in a prime area, just steps away from the 7 train line, LIRR local bus routes Q26/Q15/Q15A, Main Street, post office, library, and supermarkets, offering convenience for daily necessities and transportation. The maintenance fee covers all utilities except electricity.
Key Highlights
- Prime location: Steps away from the 7 train line, LIRR, local bus routes, Main Street, post office, library, and supermarkets.
- Spacious living room adaptable to a 2‑bedroom layout.
- Maintenance fee covers all utilities except electricity.
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
$18,333
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
5.09%
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%
$366,660
$366.7K
Cap Rate 7%
$261,900
$261.9K
Cap Rate 9%
$203,700
$203.7K
Market Conditions
NOI Build-Up for 750 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
$34.7K $46.20/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$33.3K $44.44/SF
− OpEx
−$15.0K −$20.00/SF
NOI
$18.3K $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%
$366,660
Cap Rate 7%
$261,900
Cap Rate 9%
$203,700
Alternative Uses
Best Use
Apartment 5plus
$261.9K
$229.2K – $305.6K
NOI $18,333 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$552.9K
$483.8K – $645.1K
NOI $38,704 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
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?
Apartment building - 1-bedroom apartment near 7 train, LIRR, Main Street.
Where is this apartment building located?
The property is located at 144-30 Sanford Ave 5 Queens, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Prime location: Steps away from the 7 train line, LIRR, local bus routes, Main Street, post office, library, and supermarkets.; Spacious living room adaptable to a 2‑bedroom layout.; Maintenance fee covers all utilities except electricity.
