Two-Family Corner
For Sale
$1,399,999
77-21 31st Avenue, East Elmhurst, NY 11370
Currently configured as a one-family residence with a separate-entry basement studio and a two-car garage.
Property Size2,220 SF
Days on Market8
Property Features for 77-21 31st Avenue
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,031
Building Details
Building Size
2,220 SF
Year Built
1955
Listing Agency:
Exit Realty Prime
Listed By:
Sarwor Khan CBR · License #1055152
(347) 665-7580
Source:
Barbieliteam
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 3:17PM
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 Exit Realty Prime
Investment Insights
Based on property information with market context.
This 1955 duplex is legally configured for two families and currently arranged as a one-family residence. The first floor contains a living room, dining room, kitchen, and half bath; three bedrooms and a full bath occupy the second floor. A studio apartment in the legal basement has its own entrance, and the property includes a two-car garage.
The property is one block from bus service and a 15-minute walk from the train. A supermarket, shops, restaurants, and Grand Central Parkway are also nearby.
The property is one block from bus service and a 15-minute walk from the train. A supermarket, shops, restaurants, and Grand Central Parkway are also nearby.
Key Highlights
- Legal two‑family configuration; currently arranged as a one‑family residence
- Three second‑floor bedrooms, a full bath, and first‑floor half bath
- Legal basement studio apartment with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,267
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,085,340
$1.1M
Cap Rate 7%
$775,243
$775.2K
Cap Rate 9%
$602,967
$603.0K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$102.6K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$98.7K $44.44/SF
− OpEx
−$44.4K −$20.00/SF
NOI
$54.3K $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 Rate 5%
$1,085,340
Cap Rate 7%
$775,243
Cap Rate 9%
$602,967
Alternative Uses
Best Use
Apartment 5plus
$775.2K
$678.3K – $904.5K
NOI $54,267 @ 7.0% cap · market cap 3.88%
Second Best
Multifamily LT 5
$524.9K
$459.3K – $612.4K
NOI $36,745 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,563 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 11370, NY
34,683
Population
11,679
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
77%
High-School Grad
1.5 sq mi
ZIP Area
23,122
Density / Sq Mi
$74,895
Median Household Income
$43,313
Median Earnings
$2,071
Median Rent
$843,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Currently configured as a one-family residence with a separate-entry basement studio and a two-car garage.
Where is this duplex located?
The property is located at 77-21 31st Avenue East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Legal two‑family configuration; currently arranged as a one‑family residence; Three second‑floor bedrooms, a full bath, and first‑floor half bath; Legal basement studio apartment with separate entrance
