Residential Income
New
For Sale
$864,000
34 Meyer Avenue, Valley Stream, NY 11580
A 1952-built property with an eat-in kitchen, entrance foyer, and fenced back yard.
Property Size1,636 SF
Days on Market5
Property Features for 34 Meyer Avenue
General Information
Standard status
Active
Size
1,636 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,242
Amenities
Natural Gas, Other
Full
Eat-in Kitchen, Entrance Foyer, Other, Master Downstairs, Storage
Fenced, Back Yard
Driveway
Other
Building Details
Building Size
1,636 SF
Year Built
1952
Listing Agency:
NEXT LEVEL REAL ESTATE NEW YORK
Listed By:
Maria Lindh · License #10311202467
(516) 688-3593
Source:
Evrealestate
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 2:27PM
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 NEXT LEVEL REAL ESTATE NEW YORK
Investment Insights
Based on property information with market context.
Built in 1952, this residential income property includes an eat-in kitchen, entrance foyer, a downstairs primary bedroom, and storage. Exterior features include a fenced back yard and driveway.
The property is at 34 Meyer Avenue in Valley Stream, with directions from Merrick Road to N. Central Avenue.
The property is at 34 Meyer Avenue in Valley Stream, with directions from Merrick Road to N. Central Avenue.
Key Highlights
- Built in 1952
- Fenced back yard and driveway
- Eat‑in kitchen, entrance foyer, downstairs primary bedroom, and storage
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
$29,182
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
3.38%
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%
$583,640
$583.6K
Cap Rate 7%
$416,886
$416.9K
Cap Rate 9%
$324,244
$324.2K
Market Conditions
NOI Build-Up for 1,636 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
$55.6K $33.96/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$53.1K $32.43/SF
− OpEx
−$23.9K −$14.59/SF
NOI
$29.2K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /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%
$583,640
Cap Rate 7%
$416,886
Cap Rate 9%
$324,244
Alternative Uses
Best Use
Apartment 5plus
$416.9K
$364.8K – $486.4K
NOI $29,182 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.08M
$946.5K – $1.26M
NOI $75,718 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 11580, NY
43,026
Population
13,582
Households
3.2
Avg Household Size
41
Median Age
38%
College-Educated
89%
High-School Grad
3.9 sq mi
ZIP Area
11,032
Density / Sq Mi
$135,385
Median Household Income
$56,417
Median Earnings
$1,852
Median Rent
$602,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A 1952-built property with an eat-in kitchen, entrance foyer, and fenced back yard.
Where is this residential income property located?
The property is located at 34 Meyer Avenue Valley Stream, NY.
What is the asking price?
The asking price for this property is $864,000.
What are key features of this property?
This property features: Built in 1952; Fenced back yard and driveway; Eat‑in kitchen, entrance foyer, downstairs primary bedroom, and storage
