Brick 2-Family
New
For Sale
$1,250,000
8544 53rd Avenue, Elmhurst, NY 11373
Two upper-level apartments each offer two bedrooms, a full bath, a living room, kitchen, and dining area.
Property Size2,898 SF
Days on Market6
Property Features for 8544 53rd Avenue
General Information
Standard status
Active
Size
2,898 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,796
Building Details
Building Size
2,898 SF
Year Built
1950
Construction
brick
Listing Agency:
Leatherman Homes
Listed By:
Camellia Giardina CBR
Source:
Barbieliteam
Added: Sep 27
Changed: Sep 29
Last Checked: Oct 1 at 6:00PM
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 Leatherman Homes
Investment Insights
Based on property information with market context.
Built in 1950, this all-brick, semi-attached corner duplex is configured as a legal two-family home. The second- and third-floor apartments each include two bedrooms, a full bathroom, a living room, a kitchen, and a dining area. Hardwood floors run through the second-floor unit, while the third-floor apartment has carpeting. A first-floor area is designed for extended family use. The property includes two parking spaces and uses a communal driveway.
The home is 1.5 blocks from the Grand Avenue train station and is near Queens Boulevard, Queens Center Mall, and Queens Place Mall. Local shops and services line Broadway and Queens Boulevard, and the property is also close to major highways. The R and M lines provide direct service toward Midtown Manhattan, with the 7 train available from nearby stations such as 74th Street–Broadway.
The home is 1.5 blocks from the Grand Avenue train station and is near Queens Boulevard, Queens Center Mall, and Queens Place Mall. Local shops and services line Broadway and Queens Boulevard, and the property is also close to major highways. The R and M lines provide direct service toward Midtown Manhattan, with the 7 train available from nearby stations such as 74th Street–Broadway.
Key Highlights
- Legal two‑family, all‑brick, semi‑attached corner home
- Two upper‑floor apartments, each with two bedrooms and a full bath
- First‑floor area designed for extended family use
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
$70,840
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
5.67%
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%
$1,416,800
$1.4M
Cap Rate 7%
$1,012,000
$1.0M
Cap Rate 9%
$787,111
$787.1K
Market Conditions
NOI Build-Up for 2,898 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
$133.9K $46.20/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$128.8K $44.44/SF
− OpEx
−$58.0K −$20.00/SF
NOI
$70.8K $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%
$1,416,800
Cap Rate 7%
$1,012,000
Cap Rate 9%
$787,111
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$885.5K – $1.18M
NOI $70,840 @ 7.0% cap · market cap 5.67%
Second Best
Multifamily LT 5
$685.2K
$599.6K – $799.5K
NOI $47,967 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,551 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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 - Two upper-level apartments each offer two bedrooms, a full bath, a living room, kitchen, and dining area.
Where is this duplex located?
The property is located at 8544 53rd Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Legal two‑family, all‑brick, semi‑attached corner home; Two upper‑floor apartments, each with two bedrooms and a full bath; First‑floor area designed for extended family use
