Renovated Triplex With LIRR
For Sale
$2,699,888
Pending
43-44 161st Street, Flushing, NY 11358
Semi-attached three-family property with updated building systems, kitchens, bathrooms, windows, flooring, and driveway.
Property Size3,232 SF
Lot Size0.07 Acres
Days on Market111
Property Features for 43-44 161st Street
General Information
Standard status
Pending
Size
3,232 SF
Lot size
0.07 Acres
Property subtype
Triplex
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$15,759
Building Details
Building Size
3,232 SF
Year Built
1985
Buildings
1
Construction
brick
Listing Agency:
E Realty International Corp
(347) 755-9735
Listed By:
Chuan Wang Chen
Source:
Barbieliteam
Added: Apr 28
Changed: Aug 15
Last Checked: Aug 15 at 8:44AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This semi-attached triplex is configured as a three-family residence and was built in 1985. The property offers approximately 3,232 square feet of living space, excluding the lower level, on a 30-by-100-foot lot with a 22-by-52-foot building footprint. Renovations include electrical, plumbing, mechanical systems, kitchens, bathrooms, flooring, windows, and the driveway.
Located at 43-44 161st Street in Flushing, the property is three blocks from the LIRR Broadway station and minutes from supermarkets, public transportation, and downtown Flushing. The combination of multiple-family configuration, updated improvements, and transit proximity supports a range of residential income property uses.
Located at 43-44 161st Street in Flushing, the property is three blocks from the LIRR Broadway station and minutes from supermarkets, public transportation, and downtown Flushing. The combination of multiple-family configuration, updated improvements, and transit proximity supports a range of residential income property uses.
Key Highlights
- Three‑family semi‑attached triplex at 43‑44 161st Street
- Approximately 3,232 square feet of living space, excluding the lower level
- 30x100 lot with a 22x52 building footprint
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
$79,004
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
2.93%
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%
$1,580,080
$1.6M
Cap Rate 7%
$1,128,629
$1.1M
Cap Rate 9%
$877,822
$877.8K
Market Conditions
NOI Build-Up for 3,232 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
$149.3K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$143.6K $44.44/SF
− OpEx
−$64.6K −$20.00/SF
NOI
$79.0K $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%
$1,580,080
Cap Rate 7%
$1,128,629
Cap Rate 9%
$877,822
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$987.6K – $1.32M
NOI $79,004 @ 7.0% cap · market cap 2.93%
Second Best
Multifamily LT 5
$764.2K
$668.7K – $891.6K
NOI $53,495 @ 7.0% cap · market cap 1.98%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,787 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,784
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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?
Triplex - Semi-attached three-family property with updated building systems, kitchens, bathrooms, windows, flooring, and driveway.
Where is this triplex located?
The property is located at 43-44 161st Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,699,888.
What are key features of this property?
This property features: Three‑family semi‑attached triplex at 43‑44 161st Street; Approximately 3,232 square feet of living space, excluding the lower level; 30x100 lot with a 22x52 building footprint
