Elmhurst Two-Family Home with
For Sale
$1,150,000
41-41 Denman St, Queens, NY 11373
Two-family home in Elmhurst with finished basement and large yard.
Property Size1,600 SF
Lot Size0.06 Acres
Days on Market268
Property Features for 41-41 Denman St
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.06 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,958
Building Details
Building Size
1,600 SF
Year Built
1920
Units
2
Listing Agency:
Jamie Realty Group
(718) 886-0668
Listed By:
Xiao Zheng · License #10491212408
(718) 886-0668
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 22 at 7:39AM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
This detached two-family home is located in Elmhurst and features R5 zoning on a 25x100 lot. The first-floor unit includes 3 bedrooms, 1 full bathroom, a living/dining room, and a kitchen. The second-floor unit offers 2 bedrooms, 1 full bathroom, a living/dining room, and a kitchen. A full finished basement provides additional versatile space and includes 1 full bathroom. The backyard offers a generously sized space suitable for various outdoor activities. The property is conveniently located near shops, restaurants, parks, and schools. Public transportation is easily accessible with proximity to the Q29 bus and the 90th St-Elmhurst Ave 7 train station. This property presents a significant investment opportunity.
Key Highlights
- Detached 2‑family home in Elmhurst
- R5 zoning on a 25x100 lot
- Two separate units: one with 3 bedrooms, one with 2 bedrooms
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
$39,111
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
3.40%
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%
$782,220
$782.2K
Cap Rate 7%
$558,729
$558.7K
Cap Rate 9%
$434,567
$434.6K
Market Conditions
NOI Build-Up for 1,600 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
$73.9K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$71.1K $44.44/SF
− OpEx
−$32.0K −$20.00/SF
NOI
$39.1K $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%
$782,220
Cap Rate 7%
$558,729
Cap Rate 9%
$434,567
Alternative Uses
Best Use
Apartment 5plus
$558.7K
$488.9K – $651.9K
NOI $39,111 @ 7.0% cap · market cap 3.40%
Second Best
Multifamily LT 5
$378.3K
$331.0K – $441.4K
NOI $26,483 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,568 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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 - Two-family home in Elmhurst with finished basement and large yard.
Where is this duplex located?
The property is located at 41-41 Denman St Queens, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Detached 2‑family home in Elmhurst; R5 zoning on a 25x100 lot; Two separate units: one with 3 bedrooms, one with 2 bedrooms
