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    Two-Family Residence with Finished Basement Title is generated by Realmo AI

    160-15 118th Road, Jamaica, NY 11434

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    Brand-new two-family home featuring fully finished basement living and multiple bedrooms designed for flexible ownership or rental use.

    Type:Multifamily
    Property size:
    3,550 SF
    Price / SF:
    $354/SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 2:41 am

    Property Features for 160-15 118th Road

    General Information

    Standard status
    Active
    Size
    3,550 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    Inbal Levy

    Listing agent Inbal Levy License #NY 10311208049

    Listing office Budget Real Estate NYC INC

    Listing date May 28, 2026

    Source Crexi

    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 Budget Real Estate NYC INC

    HighLights

    • Brand‑new 2‑family home built in 2025
    • Over 3,500 SF with two units, each offering 3 bedrooms and 2 full bathrooms
    • Fully finished basement with space for 2 additional bedrooms and a full bathroom
    • Full‑size attic offering potential for an additional bedroom, home office, or creative space
    • Private driveway plus washer and dryer hookups in the basement
    • All units fully rented, with potential income of nearly $10,000 per month

    Overview

    A brand-new two-family home offering a practical, flexible layout with two full residential units and additional finished space. Each unit includes three bedrooms and two full bathrooms, with a configuration well-suited to comfortable multi-room living. The property also includes a fully finished basement with space for two additional bedrooms and a full bathroom, providing expanded options for guest use, extended living, or additional tenant space. A full-size attic adds further versatility and can be adapted for an extra bedroom, home office, or creative room. Washer and dryer hookups are available in the basement, and the home is supported by a private driveway.

    Located in Jamaica, NY, the property is served by its own private driveway, supporting straightforward day-to-day access for residents and guests. All units are currently fully rented, providing an immediate occupied setup for an owner-operator or investor.

    From a tenant and owner standpoint, the unit mix offers a clear path for three-bedroom occupancy in both apartments, supported by the basement’s additional bedroom and full-bath capacity. For investors, the listing notes all units are fully rented and cites nearly $10,000 per month in potential income, while end-users can benefit from having rental income alongside substantial on-site living and flexible extra space.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $164.0k $46.20
    − Vacancy −$6.2k −$1.76
    EGI $157.8k $44.44
    − OpEx −$71.0k −$20.00
    NOI $86.8k $24.44
    3,550 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.24M
    $1.08M – $1.45M (±1% cap)
    NOI $86,778 @ 7.0% cap · market cap 6.89%
    Second Best
    Multifamily LT 5
    $839.4K
    $734.5K – $979.3K (±1% cap)
    NOI $58,758 @ 7.0% cap · market cap 4.67%
    Theoretical Best
    Office A
    $2.62M
    $2.29M – $3.05M (±1% cap)
    NOI $183,197 @ 7.0% cap · market cap 14.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.784416
    Latitude
    40.682067

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    FAQs

    What type of property is this?
    Duplex - Brand-new two-family home featuring fully finished basement living and multiple bedrooms designed for flexible ownership or rental use.
    Where is this duplex located?
    The property is located at 160-15 118th Road Jamaica, NY.
    What is the asking price?
    The asking price for this property is $1,258,888.
    What are key features of this property?
    This property features: Brand‑new 2‑family home built in 2025; Over 3,500 SF with two units, each offering 3 bedrooms and 2 full bathrooms; Fully finished basement with space for 2 additional bedrooms and a full bathroom
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Inbal Levy
    Real Estate License ID: NY 10311208049
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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