Renovated Two-Family
For Sale
$999,000
8554 106th Street, Richmond Hill, NY 11418
Two residences provide a two-bedroom first-floor layout and a three-bedroom upper-level duplex.
Property Size1,720 SF
Days on Market9
Property Features for 8554 106th Street
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,379
Building Details
Building Size
1,720 SF
Year Built
1931
Buildings
1
Stories
3
Listing Agency:
Gadura Real Estate LLC
(917) 705-0132
Listed By:
Nitin K. Gadura
Source:
Serhant
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 30 at 9:08PM
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 Gadura Real Estate LLC
Investment Insights
Based on property information with market context.
This renovated semi-detached duplex is arranged as a two-family property with separate residential layouts. The first-floor home contains two bedrooms, while the upper residence occupies the second and third floors and includes three bedrooms. Three full bathrooms serve the property, and the fully finished basement adds usable interior space.
The property was built in 1931 and is situated near Forest Park, the J train, shopping, and major transportation routes. Its multi-level configuration provides distinct living areas within a single residential asset.
The property was built in 1931 and is situated near Forest Park, the J train, shopping, and major transportation routes. Its multi-level configuration provides distinct living areas within a single residential asset.
Key Highlights
- Renovated semi‑detached duplex configured for two families
- First‑floor residence includes 2 bedrooms
- Upper duplex spans the second and third floors with 3 bedrooms
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
$42,044
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
4.21%
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%
$840,880
$840.9K
Cap Rate 7%
$600,629
$600.6K
Cap Rate 9%
$467,156
$467.2K
Market Conditions
NOI Build-Up for 1,720 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
$79.5K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$76.4K $44.44/SF
− OpEx
−$34.4K −$20.00/SF
NOI
$42.0K $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%
$840,880
Cap Rate 7%
$600,629
Cap Rate 9%
$467,156
Alternative Uses
Best Use
Apartment 5plus
$600.6K
$525.6K – $700.7K
NOI $42,044 @ 7.0% cap · market cap 4.21%
Second Best
Multifamily LT 5
$406.7K
$355.9K – $474.5K
NOI $28,469 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,760 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,620
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
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 residences provide a two-bedroom first-floor layout and a three-bedroom upper-level duplex.
Where is this duplex located?
The property is located at 8554 106th Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Renovated semi‑detached duplex configured for two families; First‑floor residence includes 2 bedrooms; Upper duplex spans the second and third floors with 3 bedrooms
