Two-Family Residence with Finished
For Sale
Contact for pricing
160-15 118th Road, Jamaica, NY 11434
Brand-new two-family home featuring fully finished basement living and multiple bedrooms designed for flexible ownership or rental use.
Property Size3,550 SF
Price / SF$354.62
Days on Market101
Property Features for 160-15 118th Road
General Information
Standard status
Active
Size
3,550 SF
Class
A
Property subtype
Multifamily
Zoning
R3A
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Budget Real Estate NYC INC
Listed By:
Inbal Levy · License #NY 10311208049
(347) 517-8828
Source:
Crexi
Added: May 28
Changed: Sep 3
Last Checked: Sep 4 at 9:05PM
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
Investment Insights
Based on property information with market context.
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.
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.
Key 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
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
$86,778
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
6.89%
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%
$1,735,560
$1.7M
Cap Rate 7%
$1,239,686
$1.2M
Cap Rate 9%
$964,200
$964.2K
Market Conditions
NOI Build-Up for 3,550 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
$164.0K $46.20/SF
− Vacancy
−$6.2K −$1.76/SF
EGI
$157.8K $44.44/SF
− OpEx
−$71.0K −$20.00/SF
NOI
$86.8K $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%
$1,735,560
Cap Rate 7%
$1,239,686
Cap Rate 9%
$964,200
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.45M
NOI $86,778 @ 7.0% cap · market cap 6.89%
Second Best
Multifamily LT 5
$839.4K
$734.5K – $979.3K
NOI $58,758 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,197 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,402
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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
