Detached Duplex with Open
For Sale
$1,290,000
156-23 89th Street, Howard Beach, NY 11414
Residential, Duplex, Howard Beach, NY
Property Size2,652 SF
Lot Size0.10 Acres
Price / SF$486.43
Days on Market308
Property Features for 156-23 89th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 3
Parking features
Garage
Interior features
Refrigerator, Stove
Subdivision
Howard Beach
Standard status
Active
Size
2,652 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
9978
Amenities
gas fireplace
open-concept kitchen with stainless steel appliances
dining area with bar
laundry room
balcony
large open backyard
Building Details
Year built
1955
Floors in Building
2
Flooring type
Tile, Hardwood
Architectural style
Other
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yuyi Cheng
(718) 838-2600
Added: Dec 1, 2025
Changed: Sep 16
Last Checked: Oct 5 at 7:06AM
MLS# 497605
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 detached duplex in Howard Beach provides 2,652 square feet across a two-level layout, with the first floor measuring 26 ft by 55 ft and the second floor measuring 26 ft by 47 ft. The lower level includes a living room with a gas fireplace, an open kitchen with stainless steel appliances, a dining area with a bar, a three-piece bathroom, laundry, storage, and garage access. Upstairs are a family room, bedrooms, two full bathrooms, and a primary suite with its own bath. A secondary bedroom opens onto a sizable balcony.
The rear of the property opens to a large backyard, with direct outdoor access from the first floor. Additional features include tile and hardwood flooring, a refrigerator, a stove, and a one-car garage. Built in 1955 and zoned R2, the property offers a documented layout suited to either owner occupancy or investment use.
The rear of the property opens to a large backyard, with direct outdoor access from the first floor. Additional features include tile and hardwood flooring, a refrigerator, a stove, and a one-car garage. Built in 1955 and zoned R2, the property offers a documented layout suited to either owner occupancy or investment use.
Key Highlights
- 2,652 SF detached duplex on a 42 ft * 100 ft lot
- First floor measures 26 ft * 55 ft; second floor measures 26 ft * 47 ft
- Open kitchen with stainless steel appliances, dining bar, and gas fireplace
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
$64,827
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
5.03%
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%
$1,296,540
$1.3M
Cap Rate 7%
$926,100
$926.1K
Cap Rate 9%
$720,300
$720.3K
Market Conditions
NOI Build-Up for 2,652 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
$122.5K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$117.9K $44.44/SF
− OpEx
−$53.0K −$20.00/SF
NOI
$64.8K $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%
$1,296,540
Cap Rate 7%
$926,100
Cap Rate 9%
$720,300
Alternative Uses
Best Use
Apartment 5plus
$926.1K
$810.3K – $1.08M
NOI $64,827 @ 7.0% cap · market cap 5.03%
Second Best
Multifamily LT 5
$627.1K
$548.7K – $731.6K
NOI $43,895 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,856 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
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
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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 - Updated kitchen, garage, balcony, and rear yard support both owner occupancy and investment use.
Where is this duplex located?
The property is located at 156-23 89th Street Howard Beach, NY.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 2,652 SF detached duplex on a 42 ft * 100 ft lot; First floor measures 26 ft * 55 ft; second floor measures 26 ft * 47 ft; Open kitchen with stainless steel appliances, dining bar, and gas fireplace
