Renovated Two-Family Duplex
For Sale
$1,399,000
25-47 71st Street, East Elmhurst, NY 11370
Updated two-family residence with a private duplex, separate apartment, garage, outdoor parking, and landscaped yard.
Property Size2,461 SF
Lot Size0.05 Acres
Price / SF$568.47
Days on Market9
Property Features for 25-47 71st Street
General Information
Standard status
Active
Size
2,461 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Duplex
Zoning
R4
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,445
Amenities
backyard
pergola
fireplace
split units
surveillance system
paved front yard
radiant heated floors
Building Details
Building Size
2,461 SF
Year Built
1955
Buildings
1
Listing Agency:
Carmela Homes Corp
(718) 274-2400
Listed By:
Carmela Vlacich · License #4OVL0647854
Source:
Cbwarburg
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 24 at 6:34AM
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 Carmela Homes Corp
Investment Insights
Based on property information with market context.
This renovated two-family property combines a private duplex with a separate two-bedroom apartment. The duplex includes a main-level living room, eat-in kitchen, bedroom, full bathroom, and backyard access, while the lower level adds a recreation area, two additional rooms, a second full bathroom, laundry, and a service-bar area with plumbing and electrical connections. The upper apartment offers an open living, dining, and kitchen layout, two bedrooms, one full bathroom, a walk-in closet, and additional storage.
The property includes an attached one-car garage and a second outdoor parking space, along with landscaped front and rear yards and a custom backyard pergola. Improvements include new plumbing, electrical, windows, sewer lines, and a recoated roof; the hot water tank was replaced in 2022. Interior features include Wolf and Liebherr appliances, split units, porcelain-tiled bathrooms, radiant-heated flooring in the lower bathroom, custom doors and staircase details, and a hard-wired 7-camera surveillance system.
Located at 25-47 71ST Street in East Elmhurst, the property provides access to the Grand Central Parkway, BQE, RFK Bridge, Q47, Q66, Q63, and R/F/M trains. The lot measures 22 x 100, the building measures 22 x 44, and zoning is R4.
The property includes an attached one-car garage and a second outdoor parking space, along with landscaped front and rear yards and a custom backyard pergola. Improvements include new plumbing, electrical, windows, sewer lines, and a recoated roof; the hot water tank was replaced in 2022. Interior features include Wolf and Liebherr appliances, split units, porcelain-tiled bathrooms, radiant-heated flooring in the lower bathroom, custom doors and staircase details, and a hard-wired 7-camera surveillance system.
Located at 25-47 71ST Street in East Elmhurst, the property provides access to the Grand Central Parkway, BQE, RFK Bridge, Q47, Q66, Q63, and R/F/M trains. The lot measures 22 x 100, the building measures 22 x 44, and zoning is R4.
Key Highlights
- Two‑family layout with a private duplex and separate two‑bedroom apartment
- Duplex includes two full bathrooms, lower‑level recreation area, laundry, and service‑bar connections
- Attached 1‑car garage plus 1 additional outdoor parking space
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
$60,158
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
4.30%
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%
$1,203,160
$1.2M
Cap Rate 7%
$859,400
$859.4K
Cap Rate 9%
$668,422
$668.4K
Market Conditions
NOI Build-Up for 2,461 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
$113.7K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$109.4K $44.44/SF
− OpEx
−$49.2K −$20.00/SF
NOI
$60.2K $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%
$1,203,160
Cap Rate 7%
$859,400
Cap Rate 9%
$668,422
Alternative Uses
Best Use
Apartment 5plus
$859.4K
$752.0K – $1.00M
NOI $60,158 @ 7.0% cap · market cap 4.30%
Second Best
Multifamily LT 5
$581.9K
$509.2K – $678.9K
NOI $40,734 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,999 @ 7.0% cap · market cap 9.08%
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
2,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 11370, NY
34,683
Population
11,679
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
77%
High-School Grad
1.5 sq mi
ZIP Area
23,122
Density / Sq Mi
$74,895
Median Household Income
$43,313
Median Earnings
$2,071
Median Rent
$843,600
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 - Updated two-family residence with a private duplex, separate apartment, garage, outdoor parking, and landscaped yard.
Where is this duplex located?
The property is located at 25-47 71st Street East Elmhurst, 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‑family layout with a private duplex and separate two‑bedroom apartment; Duplex includes two full bathrooms, lower‑level recreation area, laundry, and service‑bar connections; Attached 1‑car garage plus 1 additional outdoor parking space
