Two-Family Duplex with
New
For Sale
$1,400,000
3210 81st Street, East Elmhurst, NY 11370
Two-family residence with finished lower-level space, exterior access, wood floors, and a shared driveway.
Property Size2,320 SF
Days on Market5
Property Features for 3210 81st Street
General Information
Standard status
Active
Size
2,320 SF
Total Parking Spaces
3
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,332
Amenities
wooden floors
finished basement
Building Details
Building Size
2,320 SF
Year Built
1930
Buildings
1
Listing Agency:
Keller Williams Landmark II
Listed By:
Cesar M. Portilla
(917) 575-8178
Source:
Serhant
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 22 at 8:45PM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
This two-family duplex includes 7 bedrooms and 2 bathrooms in a residence built in 1930. Interior features include wood floors and a finished basement with direct outdoor access. The property also offers a two-car garage, 1 backyard parking space, a shared driveway, and a backyard area.
The home is near bus service, train stations, shopping, supermarkets, cafes, restaurants, a bank, a pharmacy, and a park. Flushing Meadows Park, Citi Field, the National Tennis Center, and LaGuardia Airport are also identified among the nearby destinations.
The home is near bus service, train stations, shopping, supermarkets, cafes, restaurants, a bank, a pharmacy, and a park. Flushing Meadows Park, Citi Field, the National Tennis Center, and LaGuardia Airport are also identified among the nearby destinations.
Key Highlights
- 7 bedrooms and 2 bathrooms
- Finished basement with direct outdoor access
- Two‑car garage plus 1 backyard parking space
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
$56,711
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
4.05%
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%
$1,134,220
$1.1M
Cap Rate 7%
$810,157
$810.2K
Cap Rate 9%
$630,122
$630.1K
Market Conditions
NOI Build-Up for 2,320 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
$107.2K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$103.1K $44.44/SF
− OpEx
−$46.4K −$20.00/SF
NOI
$56.7K $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%
$1,134,220
Cap Rate 7%
$810,157
Cap Rate 9%
$630,122
Alternative Uses
Best Use
Apartment 5plus
$810.2K
$708.9K – $945.2K
NOI $56,711 @ 7.0% cap · market cap 4.05%
Second Best
Multifamily LT 5
$548.6K
$480.0K – $640.0K
NOI $38,400 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,723 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,528
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 - Two-family residence with finished lower-level space, exterior access, wood floors, and a shared driveway.
Where is this duplex located?
The property is located at 3210 81st Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7 bedrooms and 2 bathrooms; Finished basement with direct outdoor access; Two‑car garage plus 1 backyard parking space
