Residential Income
87-24 78th Street, Woodhaven, NY 11421
For Sale
$1,250,000
A 1920-built property in Queens has unfinished full-basement space and wall or window units.
Property Size3,300 SF
Days on Market50
Property Features for 87-24 78th Street
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Wall/Window Unit(s)
Baseboard
Full, Unfinished
On Street
Building Details
Building Size
Year Built
Listing Agency:
Jamie Realty Group
Listed By:
Xiao Zheng · License NY #10491212408
(718) 886-0668
Source:
Evrealestate
Added: Sep 21
Changed: Nov 7
Last Checked: Nov 8 at 6:11AM
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 Jamie Realty Group
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Investment Insights
Based on property information with market context.
Built in 1920, this residential income property includes a full, unfinished basement. Interior features include baseboard heating and wall or window units.
The property is in Queens at 87-24 78th Street, Woodhaven, NY 11421. On-street parking is noted.
The property is in Queens at 87-24 78th Street, Woodhaven, NY 11421. On-street parking is noted.
Key Highlights
- 1920 construction
- Full, unfinished basement
- Baseboard heating and wall or window units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,667
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $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 Rate 5%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,784
Businesses Nearby
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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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Market
Properties on Market for Residential income properties in Woodhaven
Frequently Asked Questions
What type of property is this?
Residential income property - A 1920-built property in Queens has unfinished full-basement space and wall or window units.
Where is this residential income property located?
The property is located at 87-24 78th Street Woodhaven, 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: 1920 construction; Full, unfinished basement; Baseboard heating and wall or window units
