Duplex with Detached
New
For Sale
$1,228,000
172-15 89th Avenue, Jamaica, NY 11432
Two residences, a finished basement, private driveway, and backyard provide a range of living and parking spaces.
Property Size2,268 SF
Lot Size0.09 Acres
Price / SF$541.45
Days on Market4
Property Features for 172-15 89th Avenue
General Information
Standard status
Active
Size
2,268 SF
Total Parking Spaces
2
Lot size
0.09 Acres
Property subtype
Residential Income
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,864
Amenities
Finished,Full
2
Yes
5
Eat-in Kitchen
1
Finished, Full
Public
No
Carport, Driveway, Garage
2268
Building Details
Building Size
2,268 SF
Year Built
1915
Buildings
1
Stories
3
Listing Agency:
(516) 703-2918
Listed By:
Sooyeon (Kelly) Moon
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 4:23PM
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 Sooyeon (Kelly) Moon
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Investment Insights
Based on property information with market context.
This two-family home contains a first-floor residence with an enclosed porch, living room with fireplace, renovated eat-in kitchen, three bedrooms, and a full bath. The upper residence spans the second and third floors, with a living room, eat-in kitchen, bedroom, full bath, and additional living area with closet space. A finished basement includes recreation space, laundry, a full bathroom, and a boiler room.
The property measures 40 by 100 feet, with a 4,000-square-foot lot and a 22-by-55-foot building footprint. A private driveway, detached two-car garage, and backyard are also included. The home was built in 1915 and is near local transportation, shopping, and houses of worship.
The property measures 40 by 100 feet, with a 4,000-square-foot lot and a 22-by-55-foot building footprint. A private driveway, detached two-car garage, and backyard are also included. The home was built in 1915 and is near local transportation, shopping, and houses of worship.
Key Highlights
- 4,000‑square‑foot lot measuring 40 by 100 feet
- Detached two‑car garage and private driveway
- Two residences, including a second- and third‑floor duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,440
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Yes
Paved road access
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences, a finished basement, private driveway, and backyard provide a range of living and parking 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: 4,000‑square‑foot lot measuring 40 by 100 feet; Detached two‑car garage and private driveway; Two residences, including a second- and third‑floor duplex
