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    Two-Family Brick Home with Garage Title is generated by Realmo AI

    33-42 87 Street, Jackson Heights, NY 11372

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    New
    For Sale
    $1,350,000

    MULTI_FAMILY - Jackson Heights, NY

    Lot size:
    0.07 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 12:06 pm

    Property Features for 33-42 87 Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 3, Bedroom 4, Basement, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
    Parking features
    Driveway
    Interior features
    First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
    Fireplace
    1
    Basement
    Full
    Standard status
    Active
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    10584

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1928
    Number of units
    2
    Flooring type
    Combination
    Building materials
    Brick

    We can help!

    Listing Contact
    Daniel C. Karatzas CBR

    Listing agent Daniel C. Karatzas CBR

    Listing office Beaudoin Realty Group Inc 7827 37th Ave Ste 5, Jackson Heights, NY

    Listing date Jun 4, 2026

    MLS# 1009136 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick 2‑family house built in 1928 on a 30' x 100' lot with detached garage and backyard
    • Two separate units: first unit features a sunroom, living room with wood‑burning fireplace, and eat‑in kitchen
    • Second unit accessed via side door off the driveway offers 3 bedrooms, 2 full bathrooms, and full kitchen/eating area
    • First floor includes a bedroom and first floor full bath; multiple bathrooms across the home (Bathroom 1/2/3)
    • Hot water heating; cooling via wall/window and window units; cable available; public water and public sewer
    • Updates noted: new water heater, major plumbing/electrical upgrades, and replaced outside sewer pipe

    Overview

    First time on the market, this two-family brick home features a detached garage, backyard space, and a 30' x 100' lot. The exterior includes an orange-tile roof. The first unit begins in a bright sunroom with windows on three sides, then flows to a spacious living room with a wood-burning fireplace. A bathroom/shower sits between the living room and kitchen, with the kitchen connecting to a dining area and two additional small rooms. A rear door provides direct access to the backyard, garage, and driveway.

    The second unit is accessed through the side door off the driveway and contains a large living area, three bedrooms, two full bathrooms, and a full kitchen with an eating area. The home is centrally located in Jackson Heights, adjacent to the Jackson Heights Historic District, with Travers Park and Paseo Park along 34th Avenue, and it is close to restaurants, shops, schools, transportation options, and houses of worship.

    For buyers seeking multi-generational flexibility or a residence that can support income, this layout offers two independent living arrangements within one property. While the home does need significant updating, major upgrades with plumbing and electrical have been completed, along with a new water heater. The outside sewer pipe has also been replaced.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson Heights
    County
    Queens
    State
    New York
    Longitude
    -73.880773
    Latitude
    40.754747

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    FAQs

    What type of property is this?
    Duplex - Two separate units in a 1920s brick home with detached garage and backyard access.
    Where is this duplex located?
    The property is located at 33-42 87 Street Jackson Heights, NY.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Brick 2‑family house built in 1928 on a 30' x 100' lot with detached garage and backyard; Two separate units: first unit features a sunroom, living room with wood‑burning fireplace, and eat‑in kitchen; Second unit accessed via side door off the driveway offers 3 bedrooms, 2 full bathrooms, and full kitchen/eating area
    (718) 505-9220
    We can help!
    Listing Contact
    Daniel C. Karatzas CBR
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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