Renovated Duplex with Skyline
For Sale
$1,888,000
Pending
2123 Amory Court, Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size3,300 SF
Lot Size0.07 Acres
Days on Market165
Property Features for 2123 Amory Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Laundry Room, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Parking features
Underground/Basement, Driveway
Patio and Porch features
Patio
Interior features
Walk-In Closet(s), Entrance Foyer, Master Downstairs
Fencing
Fenced
View
City
High school district
24
Directions
www.Mapquest.Com /Waze Cross Streets:Metropolitan Ave to 2123 Amory Ct, Ridgewood NY 11385.Close to Bus, Close to School, Close to Shops, Near Public Transportation.
Standard status
Pending
APN
03362-0037
Size
3,300 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11374
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
private backyard
Building Details
Year built
1965
Floors in Building
3
Flooring type
Tile, Hardwood
Building materials
Brick
Listing Agency:
TRADEMARKO REALTY INC
(718) 502-5141
Listed By:
Malgorzata Pieniadz · License #NEWYORK(NY)LICENSE10301217154
(347) 647-6397
Added: Apr 2
Changed: Sep 13
Last Checked: Sep 13 at 1:06AM
MLS# 11684976
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Renovated duplex residence with approximately 3,300 square feet of living space on a 2,991 square foot lot. The first and second floors each offer three bedrooms, one full bathroom, and an open arrangement linking the kitchen, dining area, and living room. Interior features include hardwood and tile flooring, updated windows, a granite kitchen with an oversized island, walk-in closet space, and a foyer.
A finished ground-level basement provides a separate entrance, storage, and flexible room for recreation, an office, gym, media use, or additional living space. Exterior improvements include a private backyard, patio, fencing, driveway, and front-facing garage. The property includes baseboard heating with natural gas, public water, and brick construction.
The home is located in Ridgewood near Bushwick and Williamsburg, with access to the L and M subway lines, bus routes, the LIE, BQE, LaGuardia Airport, and JFK Airport. The property is within R5B zoning and is offered vacant at closing.
A finished ground-level basement provides a separate entrance, storage, and flexible room for recreation, an office, gym, media use, or additional living space. Exterior improvements include a private backyard, patio, fencing, driveway, and front-facing garage. The property includes baseboard heating with natural gas, public water, and brick construction.
The home is located in Ridgewood near Bushwick and Williamsburg, with access to the L and M subway lines, bus routes, the LIE, BQE, LaGuardia Airport, and JFK Airport. The property is within R5B zoning and is offered vacant at closing.
Key Highlights
- Approximately 3,300 square feet on a 2,991 square foot lot
- 6 bedrooms and 2 full bathrooms across two residential levels
- Finished ground‑level basement with separate entrance
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two levels each provide three bedrooms, a full bathroom, and an open kitchen, dining, and living arrangement.
Where is this duplex located?
The property is located at 2123 Amory Court 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 on a 2,991 square foot lot; 6 bedrooms and 2 full bathrooms across two residential levels; Finished ground‑level basement with separate entrance
