Renovated Duplex with Living Room
For Sale
$1,150,000
24-33 96th Street, East Elmhurst, NY 11369
Newly renovated duplex in excellent condition with living room AC and move-in readiness.
Property Size1,944 SF
Days on Market107
Property Features for 24-33 96th Street
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,851
Amenities
Living room AC
Building Details
Building Size
1,944 SF
Year Built
1930
Listing Agency:
Winzone Realty Inc
Listed By:
Xiao Feng Pan CBR · License #31PA0929296
(718) 899-7000
Source:
Barbieliteam
Added: Jun 5
Changed: Sep 11
Last Checked: Sep 19 at 10:54AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This renovated duplex is offered in excellent condition and described as move-in ready, with a whole-house renovation completed. The property includes living room AC for added comfort.
The duplex is located at 24-33 96th Street in East Elmhurst, NY 11369. Built in 1930, the home has been updated as a complete renovation, and is presented as needing no touch-ups.
Ideal for an owner-occupant or income-minded buyer seeking a residential duplex that has been refreshed throughout, the combination of whole-house renovation and in-home climate comfort supports day-to-day livability.
The duplex is located at 24-33 96th Street in East Elmhurst, NY 11369. Built in 1930, the home has been updated as a complete renovation, and is presented as needing no touch-ups.
Ideal for an owner-occupant or income-minded buyer seeking a residential duplex that has been refreshed throughout, the combination of whole-house renovation and in-home climate comfort supports day-to-day livability.
Key Highlights
- Newly renovated whole house duplex
- Living room AC
- Excellent condition with no touch ups needed
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
$47,520
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
4.13%
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%
$950,400
$950.4K
Cap Rate 7%
$678,857
$678.9K
Cap Rate 9%
$528,000
$528.0K
Market Conditions
NOI Build-Up for 1,944 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
$89.8K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$86.4K $44.44/SF
− OpEx
−$38.9K −$20.00/SF
NOI
$47.5K $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%
$950,400
Cap Rate 7%
$678,857
Cap Rate 9%
$528,000
Alternative Uses
Best Use
Apartment 5plus
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 4.13%
Second Best
Multifamily LT 5
$459.7K
$402.2K – $536.3K
NOI $32,176 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,320 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,410
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
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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 - Newly renovated duplex in excellent condition with living room AC and move-in readiness.
Where is this duplex located?
The property is located at 24-33 96th Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Newly renovated whole house duplex; Living room AC; Excellent condition with no touch ups needed
