Updated Two-Family Home in
For Sale
$1,275,000
3517 109th St, Queens, NY 11368
Renovated two-family home with rental income potential in Queens.
Property Size1,792 SF
Lot Size0.05 Acres
Days on Market268
Property Features for 3517 109th St
General Information
Standard status
Active
Size
1,792 SF
Lot size
0.05 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,985
Building Details
Building Size
1,792 SF
Year Built
1910
Units
2
Listing Agency:
(347) 678-4819
Listed By:
Connie Francisco
(347) 678-4819
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 23 at 7:17AM
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 Connie Francisco
Investment Insights
Based on property information with market context.
This updated two-family home is located in Corona. The first floor has been completely renovated with modern finishes, offering a turnkey living space. The basement has been fully redone, providing additional flexible space perfect for recreation, storage, or extended living. The second floor features a newly built duplex unit, designed with comfort and functionality in mind. The property is conveniently located near schools, shopping, parks, and public transportation. This property is an excellent opportunity for both investors and end users seeking rental income potential in one of Queens most desirable neighborhoods.
Key Highlights
- Fully renovated 2‑family home with modern finishes.
- Newly built duplex unit on the second floor.
- Fully redone basement providing flexible space.
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
$43,804
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
3.44%
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%
$876,080
$876.1K
Cap Rate 7%
$625,771
$625.8K
Cap Rate 9%
$486,711
$486.7K
Market Conditions
NOI Build-Up for 1,792 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
$82.8K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$79.6K $44.44/SF
− OpEx
−$35.8K −$20.00/SF
NOI
$43.8K $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%
$876,080
Cap Rate 7%
$625,771
Cap Rate 9%
$486,711
Alternative Uses
Best Use
Apartment 5plus
$625.8K
$547.6K – $730.1K
NOI $43,804 @ 7.0% cap · market cap 3.44%
Second Best
Multifamily LT 5
$423.7K
$370.8K – $494.3K
NOI $29,660 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,476 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,548
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?
Duplex - Renovated two-family home with rental income potential in Queens.
Where is this duplex located?
The property is located at 3517 109th St Queens, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Fully renovated 2‑family home with modern finishes.; Newly built duplex unit on the second floor.; Fully redone basement providing flexible space.
