Residential
For Sale
$847,600
2301 92nd Street, East Elmhurst, NY 11369
Two-unit residential property offered in its current condition, with buyer inspection and due diligence required before bidding.
Property Size1,725 SF
Days on Market30
Property Features for 2301 92nd Street
General Information
Standard status
Active
Size
1,725 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$8,177
Building Details
Building Size
1,725 SF
Year Built
1940
Stories
2
Units
2
Listing Agency:
REALHome Services & Solutions
(888) 876-3372
Listed By:
Neven Lee Spralja · License #10311209656
(888) 876-3372
Source:
Wcirealty
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 31 at 5:13PM
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 REALHome Services & Solutions
Investment Insights
Based on property information with market context.
This duplex contains 1,725 square feet and dates to 1940. The property sits on a 2,800-square-foot lot and is being offered in its existing condition, with buyers responsible for completing inspections and due diligence before bidding.
The address is 2301 92nd Street in East Elmhurst, NY 11369. Nearby area references include Flushing Bay Promenade, Lent-Riker Smith Homestead, and Elmhurst Park.
The address is 2301 92nd Street in East Elmhurst, NY 11369. Nearby area references include Flushing Bay Promenade, Lent-Riker Smith Homestead, and Elmhurst Park.
Key Highlights
- 1,725 sq.ft. duplex
- 2,800‑square‑foot lot
- Built in 1940
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
$42,167
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
4.97%
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%
$843,340
$843.3K
Cap Rate 7%
$602,386
$602.4K
Cap Rate 9%
$468,522
$468.5K
Market Conditions
NOI Build-Up for 1,725 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
$79.7K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$76.7K $44.44/SF
− OpEx
−$34.5K −$20.00/SF
NOI
$42.2K $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%
$843,340
Cap Rate 7%
$602,386
Cap Rate 9%
$468,522
Alternative Uses
Best Use
Apartment 5plus
$602.4K
$527.1K – $702.8K
NOI $42,167 @ 7.0% cap · market cap 4.97%
Second Best
Multifamily LT 5
$407.9K
$356.9K – $475.9K
NOI $28,552 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,018 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
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 - Two-unit residential property offered in its current condition, with buyer inspection and due diligence required before bidding.
Where is this duplex located?
The property is located at 2301 92nd Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $847,600.
What are key features of this property?
This property features: 1,725 sq.ft. duplex; 2,800‑square‑foot lot; Built in 1940
