Duplex with Detached
New
For Sale
$950,000
161-24 84th Avenue, Jamaica, NY 11432
A legal two-family home with separate utility meters and a finished lower level with its own exterior entrance.
Property Size1,645 SF
Days on Market5
Property Features for 161-24 84th Avenue
General Information
Standard status
Active
Size
1,645 SF
Total Parking Spaces
1
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,631
Building Details
Building Size
1,645 SF
Year Built
1930
Buildings
1
Stories
3
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Lenix Lin
(347) 610-6559
Source:
Barbieliteam
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 4 at 5:39PM
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 detached duplex, built in 1930, has three above-grade floors and a finished basement with a separate exterior entrance. The property includes four bedrooms as a potential configuration and three full bathrooms. Separate gas and electric meters, boilers, and hot water heaters serve the home, alongside a 200-amp electrical system. Central air conditioning is installed in the second- and third-floor duplex apartment. A long driveway and detached one-car garage provide additional parking and storage.
The property is at 161-24 84th Avenue in Jamaica Hills, near St. John’s University and Queens Hospital Center. The Q65 bus and E and F subway lines are accessible nearby.
The property is at 161-24 84th Avenue in Jamaica Hills, near St. John’s University and Queens Hospital Center. The Q65 bus and E and F subway lines are accessible nearby.
Key Highlights
- Legal two‑family property with separate gas and electric meters, boilers, and hot water heaters
- Three above‑grade floors plus a full finished basement with a separate exterior entrance
- Four bedrooms as a potential layout and three full bathrooms
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
$40,211
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
4.23%
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%
$804,220
$804.2K
Cap Rate 7%
$574,443
$574.4K
Cap Rate 9%
$446,789
$446.8K
Market Conditions
NOI Build-Up for 1,645 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
$76.0K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$73.1K $44.44/SF
− OpEx
−$32.9K −$20.00/SF
NOI
$40.2K $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%
$804,220
Cap Rate 7%
$574,443
Cap Rate 9%
$446,789
Alternative Uses
Best Use
Apartment 5plus
$574.4K
$502.6K – $670.2K
NOI $40,211 @ 7.0% cap · market cap 4.23%
Second Best
Multifamily LT 5
$389.0K
$340.3K – $453.8K
NOI $27,227 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,890 @ 7.0% cap · market cap 8.94%
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
2,732
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
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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 - A legal two-family home with separate utility meters and a finished lower level with its own exterior entrance.
Where is this duplex located?
The property is located at 161-24 84th Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Legal two‑family property with separate gas and electric meters, boilers, and hot water heaters; Three above‑grade floors plus a full finished basement with a separate exterior entrance; Four bedrooms as a potential layout and three full bathrooms
