Renovated Quadplex with
For Sale
$1,399,000
3416 103rd Street, Corona, NY 11368
Brick multifamily property with four apartments, updated systems, private heating equipment, and a fully enclosed backyard.
Property Size2,360 SF
Days on Market217
Property Features for 3416 103rd Street
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$11,727
Amenities
backyard
gated perimeter
Building Details
Building Size
2,360 SF
Year Built
1933
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Keller Williams Landmark II
(917) 575-8178
Listed By:
Cesar M. Portilla
Source:
Barbieliteam
Added: Jan 5
Changed: Aug 10
Last Checked: Aug 10 at 9:30AM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
This 1933 brick quadplex contains four apartments arranged across a walk-in basement, first floor, and second floor. The unit mix includes a two-bedroom basement apartment, a four-bedroom first-floor apartment, plus one- and two-bedroom apartments on the second floor. The basement apartment is currently vacant. The building has undergone a comprehensive renovation, including interior and exterior improvements, updated finishes, and refreshed systems. Each apartment has its own boiler and hot water tank, supporting separate building services by unit.
The property also includes a spacious backyard and a gated perimeter. Public transportation is nearby, with access to buses and train stations. Shopping, supermarkets, cafes, restaurants, banks, pharmacies, and parks are also within the surrounding area. The property is located near Flushing Meadows-Corona Park, Citi Field, the USTA Billie Jean King National Tennis Center, Queens Zoo, the New York Hall of Science, Queens Museum, and LaGuardia Airport.
The property also includes a spacious backyard and a gated perimeter. Public transportation is nearby, with access to buses and train stations. Shopping, supermarkets, cafes, restaurants, banks, pharmacies, and parks are also within the surrounding area. The property is located near Flushing Meadows-Corona Park, Citi Field, the USTA Billie Jean King National Tennis Center, Queens Zoo, the New York Hall of Science, Queens Museum, and LaGuardia Airport.
Key Highlights
- Four‑unit quadplex with a two-, four-, one-, and two‑bedroom apartment mix
- Two‑bedroom basement apartment is currently vacant
- Comprehensive renovation includes interior and exterior improvements
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
$57,689
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
4.12%
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%
$1,153,780
$1.2M
Cap Rate 7%
$824,129
$824.1K
Cap Rate 9%
$640,989
$641.0K
Market Conditions
NOI Build-Up for 2,360 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
$109.0K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.9K $44.44/SF
− OpEx
−$47.2K −$20.00/SF
NOI
$57.7K $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%
$1,153,780
Cap Rate 7%
$824,129
Cap Rate 9%
$640,989
Alternative Uses
Best Use
Apartment 5plus
$824.1K
$721.1K – $961.5K
NOI $57,689 @ 7.0% cap · market cap 4.12%
Second Best
Multifamily LT 5
$558.0K
$488.3K – $651.0K
NOI $39,062 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,787 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,974
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick multifamily property with four apartments, updated systems, private heating equipment, and a fully enclosed backyard.
Where is this quadplex located?
The property is located at 3416 103rd Street Corona, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Four‑unit quadplex with a two-, four-, one-, and two‑bedroom apartment mix; Two‑bedroom basement apartment is currently vacant; Comprehensive renovation includes interior and exterior improvements
