Three-Story Two-Family
For Sale
$1,250,000
3330 97th Street, Corona, NY 11368
Residential income property with two units and convenient access to the 7 train.
Property Size1,763 SF
Days on Market85
Property Features for 3330 97th Street
General Information
Standard status
Active
Size
1,763 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,025
Building Details
Building Size
1,763 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Demetrios Droggitis · License #10401317920
(718) 886-6800
Source:
Barbieliteam
Added: Jun 27
Changed: Sep 10
Last Checked: Sep 19 at 11:31AM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This three-story, two-family duplex in Corona, Queens, was built in 1920 and includes two thoughtfully laid-out residential units. The property offers a configuration suited to an investor or owner-occupant seeking rental income, with comfortable living spaces and a classic pre-war character.
Located at 3330 97th Street, the property is near the 7 train, providing access to Midtown Manhattan. It is also close to Flushing Meadows-Corona Park, local shopping, dining, and schools. The surrounding area includes a diverse residential community and neighborhood services.
Located at 3330 97th Street, the property is near the 7 train, providing access to Midtown Manhattan. It is also close to Flushing Meadows-Corona Park, local shopping, dining, and schools. The surrounding area includes a diverse residential community and neighborhood services.
Key Highlights
- Three‑story, two‑family duplex at 3330 97th Street
- Built in 1920
- Two residential units with thoughtfully laid‑out living spaces
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
$43,096
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
3.45%
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%
$861,920
$861.9K
Cap Rate 7%
$615,657
$615.7K
Cap Rate 9%
$478,844
$478.8K
Market Conditions
NOI Build-Up for 1,763 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
$81.5K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$78.4K $44.44/SF
− OpEx
−$35.3K −$20.00/SF
NOI
$43.1K $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%
$861,920
Cap Rate 7%
$615,657
Cap Rate 9%
$478,844
Alternative Uses
Best Use
Apartment 5plus
$615.7K
$538.7K – $718.3K
NOI $43,096 @ 7.0% cap · market cap 3.45%
Second Best
Multifamily LT 5
$416.9K
$364.8K – $486.3K
NOI $29,180 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,979 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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 - Residential income property with two units and convenient access to the 7 train.
Where is this duplex located?
The property is located at 3330 97th Street Corona, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑story, two‑family duplex at 3330 97th Street; Built in 1920; Two residential units with thoughtfully laid‑out living spaces
