Duplex Property with Accessory
New
For Sale
$1,380,000
69-12 31st Ave, Queens, NY 11377
Two apartments, an accessory unit, private outdoor space, and transit access support multiple residential income configurations.
Property Size2,700 SF
Days on Market3
Property Features for 69-12 31st Ave
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x walk-in accessory unit
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,089
Amenities
private backyard
balcony
hardwood floors
Building Details
Building Size
2,700 SF
Year Built
1960
Buildings
1
Units
2
Listing Agency:
Trademarko Realty Inc.
Listed By:
Peter Nowik · License #10401329596
(347) 927-6829
Source:
Elliman
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 9:03AM
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 Trademarko Realty Inc.
Investment Insights
Based on property information with market context.
This 1960-built duplex includes two two-bedroom, one-bath apartments along with a walk-in accessory unit featuring its own full bath. The second floor is vacant and provides a spacious balcony and hardwood floors, while the property also includes a private backyard. The sale is offered as-is, with tenants in place in other portions of the residence.
Located on the border of Woodside and Jackson Heights, the property offers access to the 7 train, LIRR, Q47, and Q49 bus lines. The BQE is two blocks away, and 55th Street and Broadway E F M R station is 0.6 miles from the property. Northern Boulevard and Roosevelt Avenue are nearby, with restaurants, markets, and retail. WalkScore is 83, TransitScore is 66, and BikeScore is 53.
Located on the border of Woodside and Jackson Heights, the property offers access to the 7 train, LIRR, Q47, and Q49 bus lines. The BQE is two blocks away, and 55th Street and Broadway E F M R station is 0.6 miles from the property. Northern Boulevard and Roosevelt Avenue are nearby, with restaurants, markets, and retail. WalkScore is 83, TransitScore is 66, and BikeScore is 53.
Key Highlights
- Two‑bedroom, one‑bath apartments, plus a walk‑in accessory unit with a full bath
- Vacant second floor with spacious balcony and hardwood floors
- Private backyard included
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
$66,000
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
4.78%
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%
$1,320,000
$1.3M
Cap Rate 7%
$942,857
$942.9K
Cap Rate 9%
$733,333
$733.3K
Market Conditions
NOI Build-Up for 2,700 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
$124.7K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$120.0K $44.44/SF
− OpEx
−$54.0K −$20.00/SF
NOI
$66.0K $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%
$1,320,000
Cap Rate 7%
$942,857
Cap Rate 9%
$733,333
Alternative Uses
Best Use
Apartment 5plus
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 4.78%
Second Best
Multifamily LT 5
$638.4K
$558.6K – $744.8K
NOI $44,689 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,333 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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 apartments, an accessory unit, private outdoor space, and transit access support multiple residential income configurations.
Where is this duplex located?
The property is located at 69-12 31st Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath apartments, plus a walk‑in accessory unit with a full bath; Vacant second floor with spacious balcony and hardwood floors; Private backyard included
