Renovated Duplex with Skyline
For Sale
$1,888,000
2123 Amory Ct, Ridgewood, NY 11385
R5B-zoned two-family residence with flexible living space, private outdoor area, and dedicated off-street parking.
Property Size3,300 SF
Lot Size0.07 Acres
Price / SF$572.12
Days on Market41
Property Features for 2123 Amory Ct
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.07 Acres
Property subtype
Multi-Family
Zoning
R5B
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
private backyard
private driveway
garage
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Trademarko Realty Inc
(347) 647-6397
Listed By:
Malgorzata A. Pieniadz CBR · License #NEWYORK(NY)LICENSE10301217154
Source:
Amodiorealestate
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 25 at 3:58AM
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 Trademarko Realty Inc
Investment Insights
Based on property information with market context.
This renovated duplex contains approximately 3,300 square feet of living space on a 2,991-square-foot lot. The first and second floors each provide three bedrooms, a full bathroom, and an open arrangement linking the kitchen, dining area, and living room. Interior features include hardwood flooring, updated windows, and granite kitchens with oversized islands. A finished ground-level basement with its own entrance adds adaptable space for recreation, office, fitness, media, or extended living use, along with substantial storage. The residence is delivered vacant at closing.
Outdoor improvements include a private backyard, long driveway, and front-facing garage. The property is zoned R5B and was built in 1965. Manhattan skyline views are included, while nearby access to the L and M subway lines, bus routes, the LIE, and BQE supports connectivity. Bushwick and Williamsburg provide access to dining, shopping, nightlife, parks, schools, fitness centers, and everyday services.
Outdoor improvements include a private backyard, long driveway, and front-facing garage. The property is zoned R5B and was built in 1965. Manhattan skyline views are included, while nearby access to the L and M subway lines, bus routes, the LIE, and BQE supports connectivity. Bushwick and Williamsburg provide access to dining, shopping, nightlife, parks, schools, fitness centers, and everyday services.
Key Highlights
- Approximately 3,300 square feet of living space on a 2,991‑square‑foot lot
- Six bedrooms and 2 full bathrooms, with three bedrooms and one bathroom on each main floor
- Finished ground‑level basement with separate entrance and storage
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
$80,667
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
4.27%
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%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 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
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $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%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 4.27%
Second Best
Multifamily LT 5
$780.3K
$682.8K – $910.3K
NOI $54,620 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,497
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R5B-zoned two-family residence with flexible living space, private outdoor area, and dedicated off-street parking.
Where is this duplex located?
The property is located at 2123 Amory Ct Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Approximately 3,300 square feet of living space on a 2,991‑square‑foot lot; Six bedrooms and 2 full bathrooms, with three bedrooms and one bathroom on each main floor; Finished ground‑level basement with separate entrance and storage
