Brick Duplex with Private
For Sale
$1,099,000
32-51 72nd St, Jackson Heights, NY 11370
Residential Income, Jackson Heights, NY
Property Size1,417 SF
Lot Size0.05 Acres
Price / SF$775.58
Days on Market54
Property Features for 32-51 72nd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
Driveway
Interior features
Entrance Foyer, Master Downstairs
Subdivision
Flushing
Standard status
Active
Size
1,417 SF
Lot size
0.05 Acres
Utilities
Heating system
Steam, Natural Gas
Amenities
covered front porch
private backyard
Building Details
Year built
1950
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat, Asphalt
Listing Agency:
LANDMARK INTERNATIONAL REAL ESTATE GROUP LLC
(917) 530-5075
Listed By:
Lucy Lu
Added: Jul 10
Changed: Aug 29
Last Checked: Sep 1 at 1:06AM
MLS# 11878275
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,417-square-foot attached duplex is built of brick and includes two residential units arranged one above the other. The upper residence has two bedrooms, while the lower residence has one bedroom; the home also contains two bathrooms, an entrance foyer, hardwood floors, and a covered front porch. A private driveway and attached garage provide on-site parking, while the rear yard can be reached from both levels.
Built in 1950, the property features steam heat fueled by natural gas and a flat asphalt roof. It is located at 32-51 72nd St in Jackson Heights, near Northern Blvd, shopping, major highways, and public transportation. The 0.0459-acre lot adds outdoor space to the residential configuration.
Built in 1950, the property features steam heat fueled by natural gas and a flat asphalt roof. It is located at 32-51 72nd St in Jackson Heights, near Northern Blvd, shopping, major highways, and public transportation. The 0.0459-acre lot adds outdoor space to the residential configuration.
Key Highlights
- Two‑unit configuration with a 2‑bedroom upper residence and 1‑bedroom lower residence
- 1,417 square feet on a 0.0459‑acre lot
- Attached garage and private driveway
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
$34,638
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
3.15%
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%
$692,760
$692.8K
Cap Rate 7%
$494,829
$494.8K
Cap Rate 9%
$384,867
$384.9K
Market Conditions
NOI Build-Up for 1,417 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
$65.5K $46.20/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$63.0K $44.44/SF
− OpEx
−$28.3K −$20.00/SF
NOI
$34.6K $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%
$692,760
Cap Rate 7%
$494,829
Cap Rate 9%
$384,867
Alternative Uses
Best Use
Apartment 5plus
$494.8K
$433.0K – $577.3K
NOI $34,638 @ 7.0% cap · market cap 3.15%
Second Best
Multifamily LT 5
$335.1K
$293.2K – $390.9K
NOI $23,454 @ 7.0% cap · market cap 2.13%
Theoretical Best
Office A
$1.04M
$914.1K – $1.22M
NOI $73,124 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,654
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 - Two-family layout includes an attached garage, hardwood flooring, and a private rear yard.
Where is this duplex located?
The property is located at 32-51 72nd St Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Two‑unit configuration with a 2‑bedroom upper residence and 1‑bedroom lower residence; 1,417 square feet on a 0.0459‑acre lot; Attached garage and private driveway
