Brick Duplex with Elevated
New
For Sale
$1,098,888
2551 85th Street, East Elmhurst, NY 11370
The two-family home offers five bedrooms, 2.5 bathrooms, and a full basement.
Property Size1,360 SF
Days on Market6
Property Features for 2551 85th Street
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,038
Amenities
full basement
private outdoor space
elevated deck
Building Details
Building Size
1,360 SF
Year Built
1935
Construction
brick
Listing Agency:
Real Broker NY LLC
Listed By:
Raja A. Tayeb CBR
Source:
Barbieliteam
Added: Sep 30
Changed: Oct 5
Last Checked: Oct 4 at 2:31PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
Built in 1935, this brick duplex is configured as a two-family home with five bedrooms and 2.5 bathrooms. Interior features include a full basement, while outdoor space includes an elevated deck and private grounds. A gated driveway accommodates multiple vehicles, with additional coverage from a carport.
The property is in East Elmhurst, near Astoria, Jackson Heights, and LaGuardia Airport. Shopping, restaurants, schools, parks, public transportation, and major highways are also identified among the surrounding area’s amenities.
The property is in East Elmhurst, near Astoria, Jackson Heights, and LaGuardia Airport. Shopping, restaurants, schools, parks, public transportation, and major highways are also identified among the surrounding area’s amenities.
Key Highlights
- Two‑family brick home with 5 bedrooms and 2.5 bathrooms
- Built in 1935
- Full basement and private outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,244
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,880
$664.9K
Cap Rate 7%
$474,914
$474.9K
Cap Rate 9%
$369,378
$369.4K
Market Conditions
NOI Build-Up for 1,360 SF
Gross rent
$62.8K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$60.4K $44.44/SF
− OpEx
−$27.2K −$20.00/SF
NOI
$33.2K $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 Rate 5%
$664,880
Cap Rate 7%
$474,914
Cap Rate 9%
$369,378
Alternative Uses
Best Use
Apartment 5plus
$474.9K
$415.6K – $554.1K
NOI $33,244 @ 7.0% cap · market cap 3.03%
Second Best
Multifamily LT 5
$321.6K
$281.4K – $375.2K
NOI $22,510 @ 7.0% cap · market cap 2.05%
Theoretical Best
Office A
$1.00M
$877.3K – $1.17M
NOI $70,183 @ 7.0% cap · market cap 6.39%
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
2,432
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
Check the figures for this property
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 - The two-family home offers five bedrooms, 2.5 bathrooms, and a full basement.
Where is this duplex located?
The property is located at 2551 85th Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,098,888.
What are key features of this property?
This property features: Two‑family brick home with 5 bedrooms and 2.5 bathrooms; Built in 1935; Full basement and private outdoor space
