Brick Two-Family
21-50 71st Street, Queens, NY 11370
For Sale
$1,495,000
Two separate residences and a flexible walk-in level support a range of household arrangements.
Property Size2,540 SF
Lot Size0.06 Acres
Price / SF$615.23
Days on Market26
Property Features for 21-50 71st Street
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
central air conditioning
hardwood flooring
private driveway
garage
rear concrete patio
backyard
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
R New York
Listed By:
Steve Papadakis
(646) 659-6436
Source:
Serhant
Added: Oct 13
Changed: Nov 7
Last Checked: Nov 6 at 2:00PM
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 R New York
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This semi-attached brick duplex, built in 1992, contains two residential units across three levels, plus a separate walk-in-level flex area. The upper residence has three bedrooms, while the second unit has two. Hardwood flooring serves the main living areas, and both residences include living and dining spaces and functional kitchens. The property also has central air conditioning, two Weil-McLain boiler systems, two A. O. Smith hot water heaters, and a new roof. Recorded building area is approximately 2,430 square feet on an approximately 20' x 127' lot.
A private driveway and garage provide off-street parking. At the rear, a concrete patio opens to a deep backyard with mature greenery. The property is in East Elmhurst near Ditmars Boulevard, neighborhood shopping and dining, public transportation, and major roadways.
A private driveway and garage provide off-street parking. At the rear, a concrete patio opens to a deep backyard with mature greenery. The property is in East Elmhurst near Ditmars Boulevard, neighborhood shopping and dining, public transportation, and major roadways.
Key Highlights
- Two residential units in a three‑level, semi‑attached brick building
- Approximately 2,430 square feet of recorded building area
- Approximately 20' x 127' lot with a deep backyard and concrete patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,400
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 2,430 SF
Gross rent
$112.3K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$108.0K $44.44/SF
− OpEx
−$48.6K −$20.00/SF
NOI
$59.4K $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%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Apartment 5plus
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 3.97%
Second Best
Multifamily LT 5
$574.6K
$502.8K – $670.3K
NOI $40,220 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,400 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 11370, NY
34,683
Population
11,679
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
77%
High-School Grad
1.5 sq mi
ZIP Area
23,122
Density / Sq Mi
$74,895
Median Household Income
$43,313
Median Earnings
$2,071
Median Rent
$843,600
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Queens, NY
Properties on Market for Duplexes in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences and a flexible walk-in level support a range of household arrangements.
Where is this duplex located?
The property is located at 21-50 71st Street Queens, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two residential units in a three‑level, semi‑attached brick building; Approximately 2,430 square feet of recorded building area; Approximately 20' x 127' lot with a deep backyard and concrete patio
