Renovated Brick
For Sale
$2,699,888
43-44 161st Street, Flushing, NY 11358
MULTI_FAMILY - Flushing, NY
Property Size3,232 SF
Lot Size0.07 Acres
Price / SF$835.36
Days on Market108
Property Features for 43-44 161st Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
34
Parking features
Driveway, Open, Garage
Window features
Aluminum Frames, Screens
Exterior features
Balcony
Fencing
Chain Link
Basement
Walk-Out Access, Finished, Storage Space, Full
Lot features
Back Yard, Front Yard, Near Public Transit, Near School
Elementary school
Ps 107 Thomas A Dooley
Middle school
Is 25 Adrien Block
High school
Flushing High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Active
APN
05418-0057
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15759
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Energy Star Qualified Equipment (Heating)
Cooling system
Multi Units, ENERGY STAR Qualified Equipment, Ductless
Water source
Public
Water front features
Lake
Water front
1
Building Details
Year built
1985
Number of units
3
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Chuan Wang Chen
(347) 755-9735
Added: Apr 28
Changed: Aug 11
Last Checked: Aug 13 at 12:06AM
MLS# 991765
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This semi-attached brick triplex was built in 1985 and has approximately 3,232 square feet of living space, excluding the lower level. The 30-by-100-foot lot supports a building footprint of approximately 22-by-52 feet. Recent improvements include electrical, plumbing, mechanical systems, kitchens, bathrooms, flooring, windows, and the driveway. The property also features a balcony, basement, ductless cooling with multiple units, and Energy Star-qualified heating equipment.
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. Parking options include an open area, garage, and driveway. Public water and sewer serve the property.
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. Parking options include an open area, garage, and driveway. Public water and sewer serve the property.
Key Highlights
- Three‑family brick property with approximately 3,232 square feet of living space, excluding the lower level
- 30‑by‑100‑foot lot with an approximately 22‑by‑52‑foot building footprint
- Updated electrical, plumbing, mechanical systems, kitchens, bathrooms, flooring, windows, and driveway
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 - Renovated three-family property with updated building systems and multiple parking options.
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 brick property with approximately 3,232 square feet of living space, excluding the lower level; 30‑by‑100‑foot lot with an approximately 22‑by‑52‑foot building footprint; Updated electrical, plumbing, mechanical systems, kitchens, bathrooms, flooring, windows, and driveway
