Elmhurst Two-Family Brick Corner
For Sale
$1,458,000
Pending
4607 79th St, Queens, NY 11373
Two-family brick house in Elmhurst, Queens, with investment potential.
Property Size1,776 SF
Lot Size0.07 Acres
Days on Market269
Property Features for 4607 79th St
General Information
Standard status
Pending
Size
1,776 SF
Lot size
0.07 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$8,263
Building Details
Building Size
1,776 SF
Year Built
1930
Units
2
Listing Agency:
E Realty International Corp
(347) 360-5843
Listed By:
Huei Hwa Lin CBR · License #10401313262
(347) 360-5843
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 23 at 5:28AM
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 two-family brick corner house is situated in a desirable area of Elmhurst, Queens. The property features separate entrances for the first-floor unit, second-floor unit, and basement. It offers investment opportunities with potential for both income and appreciation. The location provides convenient access to Elmhurst Hospital, supermarkets, shops, and various business activities. Public transportation is readily accessible, with proximity to the Elmhurst Ave/Jackson Hts-Roosevelt Ave subway stations serving the E, F, M, R, and 7 lines. Additionally, the property offers easy access to I278, I495, and the Grand Central Parkway. Parking includes a one-car detached garage.
Key Highlights
- Prime location in the most desirable part of Elmhurst, Queens.
- Multi‑family brick corner house offering income and appreciation potential.
- Convenient access to E/F/M/R and 7 subway lines (Elmhurst Ave/Jackson Hts‑Roosevelt Ave).
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
$43,413
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%
$868,260
$868.3K
Cap Rate 7%
$620,186
$620.2K
Cap Rate 9%
$482,367
$482.4K
Market Conditions
NOI Build-Up for 1,776 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
$82.1K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$78.9K $44.44/SF
− OpEx
−$35.5K −$20.00/SF
NOI
$43.4K $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%
$868,260
Cap Rate 7%
$620,186
Cap Rate 9%
$482,367
Alternative Uses
Best Use
Apartment 5plus
$620.2K
$542.7K – $723.6K
NOI $43,413 @ 7.0% cap · market cap 2.98%
Second Best
Multifamily LT 5
$419.9K
$367.5K – $489.9K
NOI $29,396 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,650 @ 7.0% cap · market cap 6.29%
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family brick house in Elmhurst, Queens, with investment potential.
Where is this duplex located?
The property is located at 4607 79th St Queens, NY.
What is the asking price?
The asking price for this property is $1,458,000.
What are key features of this property?
This property features: Prime location in the most desirable part of Elmhurst, Queens.; Multi‑family brick corner house offering income and appreciation potential.; Convenient access to E/F/M/R and 7 subway lines (Elmhurst Ave/Jackson Hts‑Roosevelt Ave).
