Pre-War Two-Family
New
For Sale
$975,000
20-27 31ST St, Queens, NY 11105
Legal two-family townhouse with a finished basement, private porch, rear garden, and established tenancies.
Property Size2,304 SF
Price / SF$423.18
Days on Market4
Property Features for 20-27 31ST St
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi Family
Units
Unit Mix
3BR/1BA duplex, 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,996
Amenities
garden
private front porch
finished basement
hardwood flooring
Building Details
Building Size
2,304 SF
Year Built
1930
Buildings
1
Stories
3
Units
2
Construction
Brick
Tenancy
Multi
Listing Agency:
Corcoran Group
Listed By:
Lucy Jia Bei Wu
(917) 678-1348
Source:
Elliman
Added: Sep 16
Last Checked: Sep 18 at 9:38AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Built in 1930, this 18-foot-wide pre-war brick townhouse is configured as a legal two-family residence across three stories, with approximately 2,304 square feet including the finished basement. The first and second floors form a three-bedroom, one-bath duplex, while the third floor contains a separate two-bedroom, one-bath unit. The basement adds a third full bath. Hardwood flooring, front and rear exposures, a private front porch, and a rear garden complete the physical offering.
The property is located at 20-27 31ST St in the Ditmars-Steinway section of Queens. Astoria-Ditmars Boulevard provides access to the N and W subway lines, while Astoria Park, its riverfront promenade and pool, Ditmars Boulevard’s cafes and restaurants, and Steinway Street shopping are nearby. The property is delivered non-vacant, sold as-is, and available for cash purchasers; showings require 24-hour notice and residents are not to be disturbed.
The property is located at 20-27 31ST St in the Ditmars-Steinway section of Queens. Astoria-Ditmars Boulevard provides access to the N and W subway lines, while Astoria Park, its riverfront promenade and pool, Ditmars Boulevard’s cafes and restaurants, and Steinway Street shopping are nearby. The property is delivered non-vacant, sold as-is, and available for cash purchasers; showings require 24-hour notice and residents are not to be disturbed.
Key Highlights
- Legal two‑family layout with a three‑bedroom duplex and separate two‑bedroom third‑floor unit
- Approximately 2,304 square feet including the finished basement
- 18‑foot‑wide pre‑war brick townhouse built in 1930
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
$56,320
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
5.78%
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%
$1,126,400
$1.1M
Cap Rate 7%
$804,571
$804.6K
Cap Rate 9%
$625,778
$625.8K
Market Conditions
NOI Build-Up for 2,304 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
$106.4K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$102.4K $44.44/SF
− OpEx
−$46.1K −$20.00/SF
NOI
$56.3K $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%
$1,126,400
Cap Rate 7%
$804,571
Cap Rate 9%
$625,778
Alternative Uses
Best Use
Apartment 5plus
$804.6K
$704.0K – $938.7K
NOI $56,320 @ 7.0% cap · market cap 5.78%
Second Best
Multifamily LT 5
$544.8K
$476.7K – $635.6K
NOI $38,135 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,897 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,590
Businesses Nearby
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
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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 - Legal two-family townhouse with a finished basement, private porch, rear garden, and established tenancies.
Where is this duplex located?
The property is located at 20-27 31ST St Queens, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Legal two‑family layout with a three‑bedroom duplex and separate two‑bedroom third‑floor unit; Approximately 2,304 square feet including the finished basement; 18‑foot‑wide pre‑war brick townhouse built in 1930
