Two-Unit Duplex with Finished
New
For Sale
$900,000
8407 89th Avenue, Woodhaven, NY 11421
Legal two-family property with separate apartments and convenient access to transportation, schools, shopping, and restaurants.
Property Size1,394 SF
Days on Market5
Property Features for 8407 89th Avenue
General Information
Standard status
Active
Size
1,394 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,090
Building Details
Building Size
1,394 SF
Year Built
1901
Units
2
Listing Agency:
Real Broker NY LLC
(718) 206-2820
Listed By:
Liliana Morales
(347) 952-6792
Source:
Maurafinnegan
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 18 at 3:56PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This legal two-family duplex, built in 1901, includes two 2-bedroom apartments with separate living arrangements. A finished basement with its own entrance adds flexible supporting space to the property.
The home is located at 8407 89th Avenue in Woodhaven, NY 11421, near public transportation, schools, shopping, restaurants, and everyday conveniences. The configuration supports owner occupancy with rental income from the second apartment or use as a two-unit investment property.
The home is located at 8407 89th Avenue in Woodhaven, NY 11421, near public transportation, schools, shopping, restaurants, and everyday conveniences. The configuration supports owner occupancy with rental income from the second apartment or use as a two-unit investment property.
Key Highlights
- Two 2‑bedroom apartments
- Legal two‑family duplex
- Finished basement with 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
$34,076
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
3.79%
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%
$681,520
$681.5K
Cap Rate 7%
$486,800
$486.8K
Cap Rate 9%
$378,622
$378.6K
Market Conditions
NOI Build-Up for 1,394 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
$64.4K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$62.0K $44.44/SF
− OpEx
−$27.9K −$20.00/SF
NOI
$34.1K $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%
$681,520
Cap Rate 7%
$486,800
Cap Rate 9%
$378,622
Alternative Uses
Best Use
Apartment 5plus
$486.8K
$426.0K – $567.9K
NOI $34,076 @ 7.0% cap · market cap 3.79%
Second Best
Multifamily LT 5
$329.6K
$288.4K – $384.6K
NOI $23,073 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$1.03M
$899.2K – $1.20M
NOI $71,937 @ 7.0% cap · market cap 7.99%
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
2,403
Businesses Nearby
Explore this area
Business Placement
Demographics for 11421, NY
42,586
Population
12,776
Households
3.3
Avg Household Size
38
Median Age
26%
College-Educated
79%
High-School Grad
1.3 sq mi
ZIP Area
32,758
Density / Sq Mi
$89,439
Median Household Income
$40,934
Median Earnings
$1,901
Median Rent
$682,800
Median Home Value
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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 - Legal two-family property with separate apartments and convenient access to transportation, schools, shopping, and restaurants.
Where is this duplex located?
The property is located at 8407 89th Avenue Woodhaven, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two 2‑bedroom apartments; Legal two‑family duplex; Finished basement with separate entrance
