Two-Family Duplex
For Sale
$1,329,000
32-41 84th Street, East Elmhurst, NY 11370
Two residential levels offer matching bedroom, kitchen, living, and bathroom layouts with hardwood flooring throughout.
Property Size2,126 SF
Days on Market174
Property Features for 32-41 84th Street
General Information
Standard status
Active
Size
2,126 SF
Total Parking Spaces
4
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,669
Building Details
Building Size
2,126 SF
Year Built
1935
Stories
2
Listing Agency:
Success King Realty
Listed By:
Julia M. Zhagui · License #10311203876
(646) 894-3458
Source:
Barbieliteam
Added: Mar 30
Changed: Sep 18
Last Checked: Sep 19 at 11:17AM
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 Success King Realty
Investment Insights
Based on property information with market context.
Built in 1935, this two-family property provides two residential floor layouts with a consistent configuration on each level. The first and second floors each include 2 bedrooms, hardwood floors, an eat-in kitchen, a living room, and a full bathroom. A full basement with high ceilings adds additional storage or utility space.
The property also includes a community driveway and parking space for 4 cars. Its East Elmhurst address places the home near schools, public transportation, shopping centers, and major highways. The existing layout and two-floor arrangement provide a straightforward multifamily configuration for residential ownership.
The property also includes a community driveway and parking space for 4 cars. Its East Elmhurst address places the home near schools, public transportation, shopping centers, and major highways. The existing layout and two-floor arrangement provide a straightforward multifamily configuration for residential ownership.
Key Highlights
- Two‑family property with 2 bedrooms on each residential floor
- Each floor includes an eat‑in kitchen, living room, full bathroom, and hardwood floors
- Full basement with high ceilings
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
$51,969
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
3.91%
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%
$1,039,380
$1.0M
Cap Rate 7%
$742,414
$742.4K
Cap Rate 9%
$577,433
$577.4K
Market Conditions
NOI Build-Up for 2,126 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
$98.2K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$94.5K $44.44/SF
− OpEx
−$42.5K −$20.00/SF
NOI
$52.0K $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%
$1,039,380
Cap Rate 7%
$742,414
Cap Rate 9%
$577,433
Alternative Uses
Best Use
Apartment 5plus
$742.4K
$649.6K – $866.2K
NOI $51,969 @ 7.0% cap · market cap 3.91%
Second Best
Multifamily LT 5
$502.7K
$439.9K – $586.5K
NOI $35,189 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,712 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,256
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
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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 - Two residential levels offer matching bedroom, kitchen, living, and bathroom layouts with hardwood flooring throughout.
Where is this duplex located?
The property is located at 32-41 84th Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,329,000.
What are key features of this property?
This property features: Two‑family property with 2 bedrooms on each residential floor; Each floor includes an eat‑in kitchen, living room, full bathroom, and hardwood floors; Full basement with high ceilings
