Renovated Studio in Jackson
For Sale
$220,000
Pending
34-15 74th St 4H, Queens, NY 11372
Renovated studio with amenities in a vibrant neighborhood.
Property Size545 SF
Days on Market268
Property Features for 34-15 74th St 4H
General Information
Standard status
Pending
Size
545 SF
Property subtype
Residential
Building Details
Building Size
545 SF
Year Built
1952
Listing Agency:
(718) 775-4321
Listed By:
Analucia Cotroneo
(718) 775-4321
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 16
Last Checked: Aug 21 at 10:57AM
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 Analucia Cotroneo
Investment Insights
Based on property information with market context.
This studio apartment, located in the Jackson Heights neighborhood, has been renovated and features a new bathroom, a separate kitchen, and wood floors. The unit includes multiple closets and three windows. The building offers amenities such as a renovated lobby, a fitness center, and a laundry facility. A parking garage is available with a wait list. Residents can also enjoy a courtyard. The building is pet-friendly. The monthly maintenance fee is $481.43. The property is located near local amenities, restaurants, a green market, shops, and transportation options.
Key Highlights
- Renovated studio apartment in the heart of Jackson Heights.
- New bathroom and separate kitchen.
- Sunny studio with three windows and wood floors.
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
$13,322
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
6.06%
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%
$266,440
$266.4K
Cap Rate 7%
$190,314
$190.3K
Cap Rate 9%
$148,022
$148.0K
Market Conditions
NOI Build-Up for 545 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
$25.2K $46.20/SF
− Vacancy
−$957 −$1.76/SF
EGI
$24.2K $44.44/SF
− OpEx
−$10.9K −$20.00/SF
NOI
$13.3K $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%
$266,440
Cap Rate 7%
$190,314
Cap Rate 9%
$148,022
Alternative Uses
Best Use
Apartment 5plus
$190.3K
$166.5K – $222.0K
NOI $13,322 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$401.8K
$351.6K – $468.8K
NOI $28,125 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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?
Apartment building - Renovated studio with amenities in a vibrant neighborhood.
Where is this apartment building located?
The property is located at 34-15 74th St 4H Queens, NY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Renovated studio apartment in the heart of Jackson Heights.; New bathroom and separate kitchen.; Sunny studio with three windows and wood floors.
