Renovated Duplex with
For Sale
$1,300,000
3033 93rd Street East, Elmhurst, NY 11369
Two-bedroom units share a full basement, while the upper residence includes a kitchen-access balcony.
Property Size1,656 SF
Days on Market153
Property Features for 3033 93rd Street East
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Duplex
Site & Location
Road Access
Yes
Public Transit
Yes
Amenities
basement
balcony
Natural Gas
Deck, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building Details
Building Size
1,656 SF
Year Built
1930
Listed By:
Mariana Basantes · License #10401374214
(347) 258-0946
Source:
Kw
Added: Apr 3
Changed: Sep 1
Last Checked: Sep 1 at 12:27AM
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 Mariana Basantes
Investment Insights
Based on property information with market context.
This renovated duplex is positioned on a corner lot and includes an attached brick garage. Each residence contains two bedrooms. The first-floor unit has two bathrooms, including one connected to the main bedroom, while the second-floor unit opens from its kitchen to a balcony.
A full basement extends across the building footprint and has a separate entrance, providing flexible space for storage, a home office, exercise, or gatherings. Connected utilities include electricity, natural gas, sewer, and water. Built in 1930, the property is located at 3033 93rd Street, East, in Elmhurst, NY 11369, with five bus lanes nearby, two schools within six blocks, and Astoria Blvd two blocks away. Stores and eateries are also within minutes.
A full basement extends across the building footprint and has a separate entrance, providing flexible space for storage, a home office, exercise, or gatherings. Connected utilities include electricity, natural gas, sewer, and water. Built in 1930, the property is located at 3033 93rd Street, East, in Elmhurst, NY 11369, with five bus lanes nearby, two schools within six blocks, and Astoria Blvd two blocks away. Stores and eateries are also within minutes.
Key Highlights
- Renovated duplex on a corner lot with an attached brick garage
- Two units, each with 2 bedrooms
- First‑floor unit includes 2 bathrooms, with 1 connected to the main bedroom
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
$40,480
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
3.11%
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%
$809,600
$809.6K
Cap Rate 7%
$578,286
$578.3K
Cap Rate 9%
$449,778
$449.8K
Market Conditions
NOI Build-Up for 1,656 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
$76.5K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$73.6K $44.44/SF
− OpEx
−$33.1K −$20.00/SF
NOI
$40.5K $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%
$809,600
Cap Rate 7%
$578,286
Cap Rate 9%
$449,778
Alternative Uses
Best Use
Apartment 5plus
$578.3K
$506.0K – $674.7K
NOI $40,480 @ 7.0% cap · market cap 3.11%
Second Best
Multifamily LT 5
$391.6K
$342.6K – $456.8K
NOI $27,409 @ 7.0% cap · market cap 2.11%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,458 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,864
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-bedroom units share a full basement, while the upper residence includes a kitchen-access balcony.
Where is this duplex located?
The property is located at 3033 93rd Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Renovated duplex on a corner lot with an attached brick garage; Two units, each with 2 bedrooms; First‑floor unit includes 2 bathrooms, with 1 connected to the main bedroom
