All-Brick Legal Two-Family
For Sale
$1,888,000
3715 93rd Street, Jackson Heights, NY 11372
Fully renovated in 2018 with separate heating and hot water systems for each unit and a finished basement with separate entrance.
Property Size2,300 SF
Lot Size0.07 Acres
Days on Market435
Property Features for 3715 93rd Street
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
4
Lot size
0.07 Acres
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$14,388
Building Details
Building Size
2,300 SF
Year Built
1924
Year Renovated
2018
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Sany Realty Group LLC
Listed By:
Meng Shi Fang
(929) 235-0501
Source:
Barbieliteam
Added: Jul 6, 2025
Changed: Sep 13
Last Checked: Sep 13 at 11:43AM
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 Sany Realty Group LLC
Investment Insights
Based on property information with market context.
All-brick, legal two-family duplex built in 1924, fully renovated in 2018 with updated electrical, plumbing, and roof. The layout provides separate hot water and heating systems for each unit, and offers a total of 8 bedrooms and 6 bathrooms across the property, plus a finished basement with a separate entrance. Soundproof insulation is included, supporting privacy between units.
The duplex also includes an oversized garage and 3 parking spaces. Located near Roosevelt Ave and just a few steps to the 7 train station, it is convenient to shopping, supermarkets, dining, banks, and other local amenities.
For rental-oriented ownership, the property is described as having good tenants in place, with the option to deliver vacant if needed. A projected cap rate over 7% is referenced.
The duplex also includes an oversized garage and 3 parking spaces. Located near Roosevelt Ave and just a few steps to the 7 train station, it is convenient to shopping, supermarkets, dining, banks, and other local amenities.
For rental-oriented ownership, the property is described as having good tenants in place, with the option to deliver vacant if needed. A projected cap rate over 7% is referenced.
Key Highlights
- Fully renovated in 2018 with updated electrical, plumbing, and roof
- All‑brick legal two‑family duplex with separate hot water and heating systems
- Total of 8 bedrooms and 6 bathrooms
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
$56,222
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
2.98%
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%
$1,124,440
$1.1M
Cap Rate 7%
$803,171
$803.2K
Cap Rate 9%
$624,689
$624.7K
Market Conditions
NOI Build-Up for 2,300 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
$106.3K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$102.2K $44.44/SF
− OpEx
−$46.0K −$20.00/SF
NOI
$56.2K $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%
$1,124,440
Cap Rate 7%
$803,171
Cap Rate 9%
$624,689
Alternative Uses
Best Use
Apartment 5plus
$803.2K
$702.8K – $937.0K
NOI $56,222 @ 7.0% cap · market cap 2.98%
Second Best
Multifamily LT 5
$543.8K
$475.9K – $634.5K
NOI $38,069 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,691 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,528
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
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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 - Fully renovated in 2018 with separate heating and hot water systems for each unit and a finished basement with separate entrance.
Where is this duplex located?
The property is located at 3715 93rd Street Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Fully renovated in 2018 with updated electrical, plumbing, and roof; All‑brick legal two‑family duplex with separate hot water and heating systems; Total of 8 bedrooms and 6 bathrooms
