Duplex Residential Income
For Sale
$749,000
27-34 27TH Street 1A, Queens, NY 11102
Two-level condominium residence with smart-home systems, custom finishes, and dedicated private storage.
Property Size947 SF
Price / SF$790.92
Days on Market16
Property Features for 27-34 27TH Street 1A
General Information
Standard status
Active
Size
947 SF
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$9,168
Building Details
Building Size
947 SF
Year Built
2020
Listing Agency:
Corcoran Group
Listed By:
JENNIFER A ROUSE · License #10301208784 (NY)
(917) 816-7018
Source:
Miradorrealestate
Added: Sep 16
Changed: Sep 27
Last Checked: Sep 30 at 6:54PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 947 SF duplex residence is located within a boutique condominium completed in 2020. The home includes one and a half bathrooms, a private storage room, a designer kitchen with white quartz counters, Calacatta marble backsplash, stainless-steel appliances, and a GROHE Blue filtration system. Imported Italian porcelain tile, a custom washer and dryer enclosure, and a TOTO WASHLET add detailed bathroom finishes. Lower-level comfort features include Schluter-DITRA-HEAT radiant flooring and in-ceiling forced-air heating in both bathrooms.
A custom wood spiral staircase with integrated LED lighting connects the levels. Smart-home equipment includes Lutron Caséta lighting, Levolor motorized shades, a Google Nest doorbell, smart keypad entry, and Sonos in-ceiling speakers. The property is at 27-34 27TH Street in Queens, NY 11102, near the amenities of Astoria.
A custom wood spiral staircase with integrated LED lighting connects the levels. Smart-home equipment includes Lutron Caséta lighting, Levolor motorized shades, a Google Nest doorbell, smart keypad entry, and Sonos in-ceiling speakers. The property is at 27-34 27TH Street in Queens, NY 11102, near the amenities of Astoria.
Key Highlights
- 947 SF duplex residence in a 2020 boutique condominium
- One and a half bathrooms plus a private storage room
- Designer kitchen with Calacatta marble backsplash, white quartz counters, and stainless‑steel appliances
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
$23,149
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
3.09%
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%
$462,980
$463.0K
Cap Rate 7%
$330,700
$330.7K
Cap Rate 9%
$257,211
$257.2K
Market Conditions
NOI Build-Up for 947 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
$43.8K $46.20/SF
− Vacancy
−$1.7K −$1.76/SF
EGI
$42.1K $44.44/SF
− OpEx
−$18.9K −$20.00/SF
NOI
$23.1K $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%
$462,980
Cap Rate 7%
$330,700
Cap Rate 9%
$257,211
Alternative Uses
Best Use
Apartment 5plus
$330.7K
$289.4K – $385.8K
NOI $23,149 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.1K
$610.9K – $814.5K
NOI $48,870 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
47,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 11102, NY
37,468
Population
19,431
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
53,526
Density / Sq Mi
$102,996
Median Household Income
$70,557
Median Earnings
$2,248
Median Rent
$779,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condominium residence with smart-home systems, custom finishes, and dedicated private storage.
Where is this residential income property located?
The property is located at 27-34 27TH Street 1A Queens, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 947 SF duplex residence in a 2020 boutique condominium; One and a half bathrooms plus a private storage room; Designer kitchen with Calacatta marble backsplash, white quartz counters, and stainless‑steel appliances
