Two-Unit
For Sale
$1,399,000
211-11 34th Avenue, Bayside, NY 11361
A four-bedroom residence arranged across two units offers separate living spaces and wood-shingle exterior detailing.
Property Size1,602 SF
Days on Market8
Property Features for 211-11 34th Avenue
General Information
Standard status
Active
Size
1,602 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,520
Building Details
Building Size
1,602 SF
Year Built
1920
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Christina Muccini-Finegan · License #10401357199
(516) 606-2086
Source:
Barbieliteam
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 3:17PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit duplex contains 4 bedrooms and 2 full bathrooms. Wood-shingle siding gives the residence a traditional exterior, and the property is described as multifamily-zoned. The two-unit configuration supports separate living arrangements within one residence.
The property is in Bayside, approximately half a mile from the Bayside LIRR station. Shopping, dining, schools, parks, and public transportation are also identified in the surrounding area.
The property is in Bayside, approximately half a mile from the Bayside LIRR station. Shopping, dining, schools, parks, and public transportation are also identified in the surrounding area.
Key Highlights
- Two‑unit residence with 4 bedrooms and 2 full bathrooms
- Multifamily‑zoned property
- Built in 1920 with wood‑shingle siding
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
$39,160
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
2.80%
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%
$783,200
$783.2K
Cap Rate 7%
$559,429
$559.4K
Cap Rate 9%
$435,111
$435.1K
Market Conditions
NOI Build-Up for 1,602 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
$74.0K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$71.2K $44.44/SF
− OpEx
−$32.0K −$20.00/SF
NOI
$39.2K $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%
$783,200
Cap Rate 7%
$559,429
Cap Rate 9%
$435,111
Alternative Uses
Best Use
Apartment 5plus
$559.4K
$489.5K – $652.7K
NOI $39,160 @ 7.0% cap · market cap 2.80%
Second Best
Multifamily LT 5
$378.8K
$331.5K – $441.9K
NOI $26,516 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,671 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
Median Home Value
Check the figures for this property
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 - A four-bedroom residence arranged across two units offers separate living spaces and wood-shingle exterior detailing.
Where is this duplex located?
The property is located at 211-11 34th Avenue Bayside, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two‑unit residence with 4 bedrooms and 2 full bathrooms; Multifamily‑zoned property; Built in 1920 with wood‑shingle siding
