Renovated Two-Family
New
For Sale
$1,300,000
8402 Smedley Street, Briarwood, NY 11435
Residential Income, Briarwood, NY
Property Size1,854 SF
Lot Size0.04 Acres
Price / SF$701.19
Days on Market1
Property Features for 8402 Smedley Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Garage
Basement
Full
Elementary school
Ps 117 J Keld/Briarwood School
Middle school
Jhs 217 Robert A Van Wyck
High school
Hillcrest High School
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Standard status
Active
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8536
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
detached garage
Building Details
Year built
1930
Number of units
2
Building materials
Brick
Listing Agency:
Keller Williams Landmark II · Keller Williams Realty
(347) 846-1200
Listed By:
Ronald Ferrara
(347) 450-0153
Added: Sep 11
Last Checked: Sep 11 at 2:06PM
MLS# 1049423
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 detached two-family duplex provides approximately 1,854 square feet on a 1,800-square-foot lot. The layout includes two bedrooms over two bedrooms, along with a full finished attic and a full finished basement with a separate outside entrance. Renovations include modern kitchens and bathrooms, while the brick exterior, baseboard heating, and detached garage add to the property's physical features. Built in 1930, the property has public water and public sewer service, with water available listed among its utilities.
The property is located in Briarwood near public transportation, shopping, major roadways, and the Briarwood F train. It is situated in an R3A residential zoning district and may suit an owner-occupant or an investor seeking a two-family configuration.
The property is located in Briarwood near public transportation, shopping, major roadways, and the Briarwood F train. It is situated in an R3A residential zoning district and may suit an owner-occupant or an investor seeking a two-family configuration.
Key Highlights
- Approximately 1,854 square feet on a 1,800‑square‑foot lot
- Two bedrooms over two bedrooms in a detached two‑family layout
- Full finished attic and basement with separate outside 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
$45,320
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
3.49%
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%
$906,400
$906.4K
Cap Rate 7%
$647,429
$647.4K
Cap Rate 9%
$503,556
$503.6K
Market Conditions
NOI Build-Up for 1,854 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
$85.7K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$82.4K $44.44/SF
− OpEx
−$37.1K −$20.00/SF
NOI
$45.3K $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 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%
$906,400
Cap Rate 7%
$647,429
Cap Rate 9%
$503,556
Alternative Uses
Best Use
Apartment 5plus
$647.4K
$566.5K – $755.3K
NOI $45,320 @ 7.0% cap · market cap 3.49%
Second Best
Multifamily LT 5
$438.4K
$383.6K – $511.5K
NOI $30,687 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,675 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,637
Businesses Nearby
Explore this area
Business Placement
Demographics for 11435, NY
58,980
Population
21,180
Households
2.8
Avg Household Size
38
Median Age
32%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
39,320
Density / Sq Mi
$79,430
Median Household Income
$43,354
Median Earnings
$1,820
Median Rent
$550,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Detached brick property with finished attic and basement space, updated kitchens and bathrooms, and a detached garage.
Where is this duplex located?
The property is located at 8402 Smedley Street Briarwood, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 1,854 square feet on a 1,800‑square‑foot lot; Two bedrooms over two bedrooms in a detached two‑family layout; Full finished attic and basement with separate outside entrance
