Two-Family Duplex with
For Sale
$808,000
16011 84th Road, Jamaica, NY 11432
Two one-bedroom units include a renovated vacant apartment and a leased first-floor residence.
Property Size1,216 SF
Days on Market79
Property Features for 16011 84th Road
General Information
Standard status
Active
Size
1,216 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R4B
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,256
Building Details
Building Size
1,216 SF
Year Built
1927
Units
2
Listing Agency:
Century Homes Realty Group LLC
(718) 886-6800
Listed By:
Benjamin J. Shen CBR
(917) 607-0472
Source:
Cornerstonemyhome
Added: Jun 16
Changed: Aug 30
Last Checked: Aug 31 at 5:10PM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This legal two-family duplex contains one one-bedroom apartment on each floor. The first-floor unit is currently leased, while the second-floor apartment is vacant and fully renovated. The property includes two-car garage parking and was built in 1927.
The building measures 19 by 32 feet on a 19-by-100-foot lot and is zoned R4B. Its Jamaica Hills setting places the property near St. John's University and within walking distance of the E and F subway lines at Parsons Boulevard Station. The property is also located in Prime 28 School District.
The building measures 19 by 32 feet on a 19-by-100-foot lot and is zoned R4B. Its Jamaica Hills setting places the property near St. John's University and within walking distance of the E and F subway lines at Parsons Boulevard Station. The property is also located in Prime 28 School District.
Key Highlights
- Legal two‑family property with one one‑bedroom unit on each floor
- Second‑floor one‑bedroom apartment is vacant and fully renovated
- First‑floor unit is currently leased
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
$29,724
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
3.68%
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%
$594,480
$594.5K
Cap Rate 7%
$424,629
$424.6K
Cap Rate 9%
$330,267
$330.3K
Market Conditions
NOI Build-Up for 1,216 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
$56.2K $46.20/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$54.0K $44.44/SF
− OpEx
−$24.3K −$20.00/SF
NOI
$29.7K $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%
$594,480
Cap Rate 7%
$424,629
Cap Rate 9%
$330,267
Alternative Uses
Best Use
Apartment 5plus
$424.6K
$371.6K – $495.4K
NOI $29,724 @ 7.0% cap · market cap 3.68%
Second Best
Multifamily LT 5
$287.5K
$251.6K – $335.5K
NOI $20,127 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$896.4K
$784.4K – $1.05M
NOI $62,751 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,660
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
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 - Two one-bedroom units include a renovated vacant apartment and a leased first-floor residence.
Where is this duplex located?
The property is located at 16011 84th Road Jamaica, NY.
What is the asking price?
The asking price for this property is $808,000.
What are key features of this property?
This property features: Legal two‑family property with one one‑bedroom unit on each floor; Second‑floor one‑bedroom apartment is vacant and fully renovated; First‑floor unit is currently leased
