Two-Family Duplex with Private
8631 131st Street, Richmond Hill, NY 11418
For Sale
$925,000
Two eat-in kitchens and a finished lower level provide distinct areas for daily living and household use.
Property Size2,262 SF
Price / SF$408.93
Days on Market75
Property Features for 8631 131st Street
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Sprinkler System
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private backyard
laundry area
Entrance Foyer
Natural Woodwork
Primary Bathroom
Master Downstairs
Washer/Dryer Hookup
Building Details
Building Size
Year Built
Year Renovated
Units
Listing Agency:
Keller Williams Legendary
(516) 328-8600
Listed By:
Lily Fung · License NY #10401358328
(718) 501-2838
Source:
Jwsrealtygroup
Added: Sep 1
Changed: Nov 12
Last Checked: Nov 13 at 5:17PM
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 Keller Williams Legendary
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-family duplex at 86-31 131st Street has four bedrooms, three bathrooms, and a finished basement with its own entrance. Both kitchens have eat-in space, and the first-floor kitchen opens directly to a private backyard. Hardwood floors run throughout, while a dedicated laundry area includes a washer, dryer, and utility sink and can be accessed separately by the duplex’s occupants.
A full interior renovation in 2012 included plumbing, electrical, sprinkler systems, the water main, roof, siding, and front gate. The boiler, water heater, and some stainless-steel appliances were updated more recently. The property is in Richmond Hill, near parks, schools, medical centers, shopping centers, and public transportation.
A full interior renovation in 2012 included plumbing, electrical, sprinkler systems, the water main, roof, siding, and front gate. The boiler, water heater, and some stainless-steel appliances were updated more recently. The property is in Richmond Hill, near parks, schools, medical centers, shopping centers, and public transportation.
Key Highlights
- Two‑family duplex with 4 bedrooms and 3 bathrooms
- Finished basement with a separate entrance
- 2012 renovation included plumbing, electrical, sprinkler systems, water main, roof, siding, and front gate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,896
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,117,920
$1.1M
Cap Rate 7%
$798,514
$798.5K
Cap Rate 9%
$621,067
$621.1K
Market Conditions
NOI Build-Up for 2,262 SF
Gross rent
$86.9K $38.40/SF
− Vacancy
−$7.0K −$3.10/SF
EGI
$79.9K $35.30/SF
− OpEx
−$24.0K −$10.59/SF
NOI
$55.9K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,117,920
Cap Rate 7%
$798,514
Cap Rate 9%
$621,067
Alternative Uses
Best Use
Multifamily LT 5
$798.5K
$698.7K – $931.6K
NOI $55,896 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$789.9K
$691.2K – $921.6K
NOI $55,293 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,730 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,621
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Duplexes in Richmond Hill
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two eat-in kitchens and a finished lower level provide distinct areas for daily living and household use.
Where is this duplex located?
The property is located at 8631 131st Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Two‑family duplex with 4 bedrooms and 3 bathrooms; Finished basement with a separate entrance; 2012 renovation included plumbing, electrical, sprinkler systems, water main, roof, siding, and front gate
