Detached Two-Family
For Sale
$1,228,000
172-15 89th Avenue, Jamaica, NY 11432
Multi-level duplex with a detached garage, finished basement, backyard, and separate residential living spaces.
Property Size2,268 SF
Days on Market24
Property Features for 172-15 89th Avenue
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,864
Building Details
Building Size
2,268 SF
Year Built
1915
Units
2
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Mitra Hakimi · License #49HA1019118
(718) 268-5588
Source:
Callexitfirst
Added: Aug 27
Changed: Sep 18
Last Checked: Sep 18 at 6:32AM
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 Mitra Hakimi Realty Group LLC
Investment Insights
Based on property information with market context.
This detached duplex provides two residential units across multiple levels, with a 22x55 building footprint on a 40x100 lot. The first-floor residence includes an enclosed porch, living room with fireplace, renovated eat-in kitchen, three bedrooms, and a full bathroom. The upper unit spans the second and third floors, offering a living room, eat-in kitchen, full bathroom, bedroom, and additional third-floor living space with extensive closet storage.
The fully finished basement adds a recreation area, laundry room, full bathroom, and boiler room. Exterior features include a private driveway, detached two-car garage, and sizable backyard. Built in 1915, the property is located at 172-15 89th Avenue in Jamaica, NY 11432, with local transportation, shopping, and houses of worship nearby.
The fully finished basement adds a recreation area, laundry room, full bathroom, and boiler room. Exterior features include a private driveway, detached two-car garage, and sizable backyard. Built in 1915, the property is located at 172-15 89th Avenue in Jamaica, NY 11432, with local transportation, shopping, and houses of worship nearby.
Key Highlights
- Two‑family detached home with separate multi‑level residences
- 40x100 lot with a 22x55 building footprint
- Detached two‑car garage and private driveway
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
$55,440
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
4.51%
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%
$1,108,800
$1.1M
Cap Rate 7%
$792,000
$792.0K
Cap Rate 9%
$616,000
$616.0K
Market Conditions
NOI Build-Up for 2,268 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
$104.8K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$100.8K $44.44/SF
− OpEx
−$45.4K −$20.00/SF
NOI
$55.4K $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%
$1,108,800
Cap Rate 7%
$792,000
Cap Rate 9%
$616,000
Alternative Uses
Best Use
Apartment 5plus
$792.0K
$693.0K – $924.0K
NOI $55,440 @ 7.0% cap · market cap 4.51%
Second Best
Multifamily LT 5
$536.3K
$469.2K – $625.7K
NOI $37,539 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,040 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,601
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 - Multi-level duplex with a detached garage, finished basement, backyard, and separate residential living spaces.
Where is this duplex located?
The property is located at 172-15 89th Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $1,228,000.
What are key features of this property?
This property features: Two‑family detached home with separate multi‑level residences; 40x100 lot with a 22x55 building footprint; Detached two‑car garage and private driveway
