Brick Duplex with Finished
For Sale
$1,455,000
3213 86th St, East Elmhurst, NY 11369
Two residential units offer eight bedrooms, three full bathrooms, and updated electrical, plumbing, roofing, and mechanical systems.
Property Size2,072 SF
Price / SF$702.22
Days on Market9
Property Features for 3213 86th St
General Information
Standard status
Active
Size
2,072 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,235
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Connie Francisco R E Group
(516) 328-0668
Listed By:
Luis E. Regalado
(516) 328-0668
Source:
Exprealty
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 21 at 11:48AM
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 Connie Francisco R E Group
Investment Insights
Based on property information with market context.
This two-family brick property contains approximately 2,072 square feet of above-grade living area, a fully finished basement, and a separate one-car garage. The lower residence has four bedrooms, an updated kitchen, and one full bathroom. The upper residence includes four bedrooms and two renovated full bathrooms. Both units offer practical layouts, and the property has undergone extensive maintenance and system improvements.
Updates include electrical panel replacements, main plumbing stack work, roof and ventilation upgrades, waterproofing, exterior concrete replacement, drainage work, a newer steam boiler and hot water system, and a recently added garage door. The building is currently tenant-occupied and positioned near shopping, dining, public transportation, major roadways, and LaGuardia Airport in East Elmhurst, NY.
Updates include electrical panel replacements, main plumbing stack work, roof and ventilation upgrades, waterproofing, exterior concrete replacement, drainage work, a newer steam boiler and hot water system, and a recently added garage door. The building is currently tenant-occupied and positioned near shopping, dining, public transportation, major roadways, and LaGuardia Airport in East Elmhurst, NY.
Key Highlights
- Two‑family brick property with approximately 2,072 square feet of above‑grade living space
- Four‑bedroom first‑floor unit with updated kitchen and one full bathroom
- Four‑bedroom second‑floor unit with two renovated full bathrooms
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
$50,649
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
3.48%
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%
$1,012,980
$1.0M
Cap Rate 7%
$723,557
$723.6K
Cap Rate 9%
$562,767
$562.8K
Market Conditions
NOI Build-Up for 2,072 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
$95.7K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$92.1K $44.44/SF
− OpEx
−$41.4K −$20.00/SF
NOI
$50.6K $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%
$1,012,980
Cap Rate 7%
$723,557
Cap Rate 9%
$562,767
Alternative Uses
Best Use
Apartment 5plus
$723.6K
$633.1K – $844.2K
NOI $50,649 @ 7.0% cap · market cap 3.48%
Second Best
Multifamily LT 5
$489.9K
$428.7K – $571.6K
NOI $34,295 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,925 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,845
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 residential units offer eight bedrooms, three full bathrooms, and updated electrical, plumbing, roofing, and mechanical systems.
Where is this duplex located?
The property is located at 3213 86th St East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,455,000.
What are key features of this property?
This property features: Two‑family brick property with approximately 2,072 square feet of above‑grade living space; Four‑bedroom first‑floor unit with updated kitchen and one full bathroom; Four‑bedroom second‑floor unit with two renovated full bathrooms
