Detached Two-Family
For Sale
$799,999
156-07 N Conduit Avenue, Jamaica, NY 11434
Flexible residential income property with generous living areas and a level backyard in Jamaica, Queens.
Property Size1,170 SF
Days on Market29
Property Features for 156-07 N Conduit Avenue
General Information
Standard status
Active
Size
1,170 SF
Total Parking Spaces
3
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,690
Building Details
Building Size
1,170 SF
Year Built
1960
Buildings
1
Units
2
Listing Agency:
Keller Williams Realty Group
(914) 713-3270
Listed By:
Safiya Swan · License #10401264654
(914) 512-7764
Source:
Cornerstonemyhome
Added: Aug 22
Changed: Sep 18
Last Checked: Sep 18 at 2:19PM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
Built in 1960, this detached duplex is configured as a two-family property with four bedrooms, two bathrooms, and generous living areas. The level backyard provides additional outdoor space, while the property is offered in its present AS IS condition for a buyer seeking to shape the property around a specific vision.
The property is located at 156-07 N Conduit Avenue in Jamaica, Queens. Major parkways, airports, shopping, parks, and everyday conveniences are identified nearby, with Baisley Pond Park providing nearby green space and recreation.
The two-family layout supports flexible residential use, with a substantial interior configuration and outdoor area that distinguish the property within the local housing market.
The property is located at 156-07 N Conduit Avenue in Jamaica, Queens. Major parkways, airports, shopping, parks, and everyday conveniences are identified nearby, with Baisley Pond Park providing nearby green space and recreation.
The two-family layout supports flexible residential use, with a substantial interior configuration and outdoor area that distinguish the property within the local housing market.
Key Highlights
- Detached two‑family property at 156‑07 N Conduit Avenue
- Four bedrooms and two bathrooms
- Large, level backyard
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
$28,600
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
3.58%
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%
$572,000
$572.0K
Cap Rate 7%
$408,571
$408.6K
Cap Rate 9%
$317,778
$317.8K
Market Conditions
NOI Build-Up for 1,170 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
$54.1K $46.20/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$52.0K $44.44/SF
− OpEx
−$23.4K −$20.00/SF
NOI
$28.6K $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%
$572,000
Cap Rate 7%
$408,571
Cap Rate 9%
$317,778
Alternative Uses
Best Use
Apartment 5plus
$408.6K
$357.5K – $476.7K
NOI $28,600 @ 7.0% cap · market cap 3.58%
Second Best
Multifamily LT 5
$276.6K
$242.1K – $322.8K
NOI $19,365 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$862.5K
$754.7K – $1.01M
NOI $60,378 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 11434, NY
66,964
Population
23,787
Households
2.8
Avg Household Size
40
Median Age
22%
College-Educated
87%
High-School Grad
3.2 sq mi
ZIP Area
20,926
Density / Sq Mi
$76,668
Median Household Income
$46,742
Median Earnings
$1,409
Median Rent
$585,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible residential income property with generous living areas and a level backyard in Jamaica, Queens.
Where is this duplex located?
The property is located at 156-07 N Conduit Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Detached two‑family property at 156‑07 N Conduit Avenue; Four bedrooms and two bathrooms; Large, level backyard
