Three Bedroom Clearview
For Sale
$398,000
Pending
17-84 166 4-162, Long Island City, NY 11357
Upper-level unit with hardwood floors, attic, and modern appliances.
Property Size856 SF
Days on Market267
Property Features for 17-84 166 4-162
General Information
Standard status
Pending
Size
856 SF
Property subtype
Residential
Building Details
Building Size
856 SF
Year Built
1950
Listing Agency:
(917) 921-9108
Listed By:
Alfred C. Baione
(917) 921-9108
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 21
Last Checked: Aug 22 at 8:23AM
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 Alfred C. Baione
Investment Insights
Based on property information with market context.
This is an upper-level Clearview unit with 857 square feet. It features a well-maintained kitchen with wood cabinets, a stove, a refrigerator, and a dishwasher. The unit includes a dining room and living room. A washer and dryer are located in the grandfather location by the bathroom. The retro-styled original bathroom is well-maintained. There are three bedrooms, each with closets. The unit has a private attic for storage and several closets throughout, as well as hardwood floors. Free public basement storage is available. Parking spots and garages are available via a waitlist. The property is close to shopping, dining, parks, NYC local and express buses, major highways, and roadway access. It is located in the Whitestone District 25 school district and has beach rights to Whitestone Booster Beach.
Key Highlights
- True three‑bedroom unit: A rare find with three bedrooms, each featuring closets.
- In‑unit washer and dryer conveniently located near the bathroom.
- Prime location near shopping, dining, parks, NYC buses, major highways, and Whitestone District 25 schools.
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
$20,924
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
5.26%
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%
$418,480
$418.5K
Cap Rate 7%
$298,914
$298.9K
Cap Rate 9%
$232,489
$232.5K
Market Conditions
NOI Build-Up for 856 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
$39.5K $46.20/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$38.0K $44.44/SF
− OpEx
−$17.1K −$20.00/SF
NOI
$20.9K $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%
$418,480
Cap Rate 7%
$298,914
Cap Rate 9%
$232,489
Alternative Uses
Best Use
Apartment 5plus
$298.9K
$261.6K – $348.7K
NOI $20,924 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$631.1K
$552.2K – $736.2K
NOI $44,174 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
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?
Apartment building - Upper-level unit with hardwood floors, attic, and modern appliances.
Where is this apartment building located?
The property is located at 17-84 166 4-162 Long Island City, NY.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: True three‑bedroom unit: A rare find with three bedrooms, each featuring closets.; In‑unit washer and dryer conveniently located near the bathroom.; Prime location near shopping, dining, parks, NYC buses, major highways, and Whitestone District 25 schools.
