Legal Two-Family Home in
For Sale
$1,090,000
47-19 99th St, Queens, NY 11368
Legal two-family home in Corona, Queens, built in 2006.
Property Size3,100 SF
Lot Size0.03 Acres
Days on Market262
Property Features for 47-19 99th St
General Information
Standard status
Active
Size
3,100 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,874
Building Details
Building Size
3,100 SF
Stories
4
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
XiaoMei(May) He · License #10401313430
(718) 612-3088
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:59AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
This is a legal two-family, semi-detached home located in Corona, Queens. Constructed in 2006, the property features four stories and a full, finished basement with high ceilings, a full bathroom, and a separate entrance. The home has hardwood floors and receives ample sunlight. The heating and hot water systems are separated. A small, private backyard is suitable for outdoor activities. The property is conveniently located near shops, restaurants, and public transportation. It will be delivered vacant at closing.
Key Highlights
- Legal 2‑family semi‑detached home, ideal for investors or homeowners.
- Delivered vacant at closing.
- Finished basement with high ceilings, full bathroom, and separate entrance.**
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
$75,778
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
6.95%
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%
$1,515,560
$1.5M
Cap Rate 7%
$1,082,543
$1.1M
Cap Rate 9%
$841,978
$842.0K
Market Conditions
NOI Build-Up for 3,100 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
$143.2K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$137.8K $44.44/SF
− OpEx
−$62.0K −$20.00/SF
NOI
$75.8K $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%
$1,515,560
Cap Rate 7%
$1,082,543
Cap Rate 9%
$841,978
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$947.2K – $1.26M
NOI $75,778 @ 7.0% cap · market cap 6.95%
Second Best
Multifamily LT 5
$733.0K
$641.4K – $855.2K
NOI $51,310 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $159,975 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,548
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home in Corona, Queens, built in 2006.
Where is this duplex located?
The property is located at 47-19 99th St Queens, NY.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Legal 2‑family semi‑detached home, ideal for investors or homeowners.; Delivered vacant at closing.; Finished basement with high ceilings, full bathroom, and separate entrance.**
