Legal Two-Family Corner
For Sale
$1,175,000
Pending
164-01 84th Avenue, Jamaica, NY 11432
Legal two-family corner duplex with separate entrances, updated roof, and separate gas and electric meters.
Property Size2,190 SF
Days on Market29
Property Features for 164-01 84th Avenue
General Information
Standard status
Pending
Size
2,190 SF
Total Parking Spaces
4
Property subtype
Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,000
Building Details
Building Size
2,190 SF
Year Built
1930
Construction
brick and vinyl siding
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Patricia Farnell CBR
Source:
Barbieliteam
Added: Jul 27
Changed: Aug 21
Last Checked: Aug 23 at 7:49AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Legal two-family corner duplex with separate entrances. The exterior features brick and vinyl siding. The home includes two large two-car garages plus two additional parking spots in a private driveway.
The roof and gutters have been updated, and the property has a gas furnace with separate meters for gas and electric. The first-floor apartment faces 164th Street and includes a living room, one bedroom, one bath, and a kitchen, with access to the basement and a back entrance to the garage. The upper unit faces 84th Avenue and includes a living room, kitchen, two bedrooms, one bath, and access to a two-room attic via stairs. The living room in the upper unit includes an AC window unit.
Convenient to local needs, the property is two blocks from the Grand Central Parkway and a hospital. Property is being sold as is. Year built: 1930.
The roof and gutters have been updated, and the property has a gas furnace with separate meters for gas and electric. The first-floor apartment faces 164th Street and includes a living room, one bedroom, one bath, and a kitchen, with access to the basement and a back entrance to the garage. The upper unit faces 84th Avenue and includes a living room, kitchen, two bedrooms, one bath, and access to a two-room attic via stairs. The living room in the upper unit includes an AC window unit.
Convenient to local needs, the property is two blocks from the Grand Central Parkway and a hospital. Property is being sold as is. Year built: 1930.
Key Highlights
- Legal two‑family corner duplex with separate entrances
- Brick and vinyl siding plus private driveway parking
- Two large two‑car garages and two additional parking spots
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
$53,533
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
4.56%
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%
$1,070,660
$1.1M
Cap Rate 7%
$764,757
$764.8K
Cap Rate 9%
$594,811
$594.8K
Market Conditions
NOI Build-Up for 2,190 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
$101.2K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$97.3K $44.44/SF
− OpEx
−$43.8K −$20.00/SF
NOI
$53.5K $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%
$1,070,660
Cap Rate 7%
$764,757
Cap Rate 9%
$594,811
Alternative Uses
Best Use
Apartment 5plus
$764.8K
$669.2K – $892.2K
NOI $53,533 @ 7.0% cap · market cap 4.56%
Second Best
Multifamily LT 5
$517.8K
$453.1K – $604.1K
NOI $36,248 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $113,015 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
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
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 - Legal two-family corner duplex with separate entrances, updated roof, and separate gas and electric meters.
Where is this duplex located?
The property is located at 164-01 84th Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Legal two‑family corner duplex with separate entrances; Brick and vinyl siding plus private driveway parking; Two large two‑car garages and two additional parking spots
