Brick Duplex with Finished
New
For Sale
$1,199,000
3724 112th Street, Corona, NY 11368
Two-family property featuring an open kitchen layout and finished lower level.
Property Size2,176 SF
Price / SF$551.01
Days on Market4
Property Features for 3724 112th Street
General Information
Standard status
Active
Size
2,176 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,816
Building Details
Building Size
2,176 SF
Year Built
1999
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Landmark II
Listed By:
Nuruzzaman Sarder · License #10401369971
(718) 262-0205
Source:
Serhant
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 4 at 11:47AM
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 fully brick duplex offers two separate residential units within 2,176 square feet of living space. Constructed in 1999, the property includes an open kitchen configuration and a fully finished basement that expands the usable interior area.
The property is located at 3724 112th Street in Corona, NY 11368, with public transportation, shopping, dining, and schools identified nearby. Its two-family format supports residential occupancy across both units or a combination of personal use and rental income.
The property is located at 3724 112th Street in Corona, NY 11368, with public transportation, shopping, dining, and schools identified nearby. Its two-family format supports residential occupancy across both units or a combination of personal use and rental income.
Key Highlights
- Fully brick two‑family duplex
- 2,176 square feet of living space
- Built in 1999
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
$53,191
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
4.44%
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%
$1,063,820
$1.1M
Cap Rate 7%
$759,871
$759.9K
Cap Rate 9%
$591,011
$591.0K
Market Conditions
NOI Build-Up for 2,176 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
$100.5K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$96.7K $44.44/SF
− OpEx
−$43.5K −$20.00/SF
NOI
$53.2K $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%
$1,063,820
Cap Rate 7%
$759,871
Cap Rate 9%
$591,011
Alternative Uses
Best Use
Apartment 5plus
$759.9K
$664.9K – $886.5K
NOI $53,191 @ 7.0% cap · market cap 4.44%
Second Best
Multifamily LT 5
$514.5K
$450.2K – $600.3K
NOI $36,016 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,292 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,845
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property featuring an open kitchen layout and finished lower level.
Where is this duplex located?
The property is located at 3724 112th Street Corona, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Fully brick two‑family duplex; 2,176 square feet of living space; Built in 1999
