Renovated Three-Level
For Sale
$938,988
156-17 78 Street, Howard Beach, NY 11414
Residential Income, Howard Beach, NY
Property Size3,000 SF
Lot Size0.00 Acres
Price / SF$312
Days on Market49
Property Features for 156-17 78 Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Subdivision
Howard Beach
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #27
Standard status
Active
Size
3,000 SF
Lot size
0.00 Acres
Taxes and HOA fees
Tax Annual Amount
4805
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Amenities
attached garage
driveway
backyard
laundry area
Building Details
Year built
1980
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Wood Siding, Brick
Roof type
Asphalt, Flat
Architectural style
Other
Listing Agency:
CLOVERDALE REALTY & MANAGEMENT LTD
(718) 926-3184
Listed By:
Anthony Mihovich
Added: Aug 18
Changed: Sep 14
Last Checked: Oct 5 at 7:06AM
MLS# 11939888
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated duplex is arranged across three levels with approximately 3,000 square feet. The finished ground level includes a full bathroom, laundry area, and two large rooms identified on the certificate of occupancy as a playroom and storage room. The two upper floors each provide a two-bedroom layout with an eat-in kitchen, full bathroom, living room, and dining room. Generous closet storage is provided throughout the residence.
The property also includes an attached garage, driveway, and large backyard. Public water service, natural-gas hot-water baseboard heating, hardwood and tile flooring, and a flat asphalt roof are part of the existing improvements. Built in 1980, the property is positioned near bus routes serving the area, shopping at 153 Avenue and 82nd Street, the MTA A train, JFK, and other surrounding destinations.
The property also includes an attached garage, driveway, and large backyard. Public water service, natural-gas hot-water baseboard heating, hardwood and tile flooring, and a flat asphalt roof are part of the existing improvements. Built in 1980, the property is positioned near bus routes serving the area, shopping at 153 Avenue and 82nd Street, the MTA A train, JFK, and other surrounding destinations.
Key Highlights
- Approximately 3,000 square feet across three levels
- Two upper floors each feature 2 bedrooms, eat‑in kitchen, full bath, living room, and dining room
- Finished ground floor with full bath, laundry area, and two additional 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
$73,333
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
7.81%
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%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 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
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 7.81%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 11414, NY
27,320
Population
12,223
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
11,878
Density / Sq Mi
$98,209
Median Household Income
$66,162
Median Earnings
$1,991
Median Rent
$612,800
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 - Three-level townhouse configuration includes two residential floors, a finished ground floor, attached garage, driveway, and backyard.
Where is this duplex located?
The property is located at 156-17 78 Street Howard Beach, NY.
What is the asking price?
The asking price for this property is $938,988.
What are key features of this property?
This property features: Approximately 3,000 square feet across three levels; Two upper floors each feature 2 bedrooms, eat‑in kitchen, full bath, living room, and dining room; Finished ground floor with full bath, laundry area, and two additional rooms
