Residential Income Property with Finished
For Sale
$1,329,000
8837 161st Street, Jamaica, NY 11432
A finished walk-out basement and high ceilings add useful interior space to this residential income property.
Property Size3,384 SF
Days on Market12
Property Features for 8837 161st Street
General Information
Standard status
Active
Size
3,384 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,311
Amenities
Wall/Window Unit(s)
Baseboard, Natural Gas
Finished, Full, Walk-Out Access
Entrance Foyer, High Ceilings
On Street
Building Details
Building Size
3,384 SF
Year Built
1910
Listing Agency:
The Greene Realty Group
Listed By:
Derek J. Greene · License #MA9503235-RE-B
(888) 278-5840
Source:
Evrealestate
Added: Sep 24
Changed: Oct 3
Last Checked: Oct 5 at 6:07PM
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 The Greene Realty Group
Investment Insights
Based on property information with market context.
This residential income property was built in 1910 and includes a finished full basement with walk-out access. The interior has an entrance foyer and high ceilings, with baseboard heat fueled by natural gas and wall- or window-mounted air-conditioning units.
The property is on 161st Street in Jamaica, Queens. On-street parking is available.
The property is on 161st Street in Jamaica, Queens. On-street parking is available.
Key Highlights
- Finished full basement with walk‑out access
- 1910 construction
- Baseboard heating with natural gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,720
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,654,400
$1.7M
Cap Rate 7%
$1,181,714
$1.2M
Cap Rate 9%
$919,111
$919.1K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$156.3K $46.20/SF
− Vacancy
−$5.9K −$1.76/SF
EGI
$150.4K $44.44/SF
− OpEx
−$67.7K −$20.00/SF
NOI
$82.7K $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%
$1,654,400
Cap Rate 7%
$1,181,714
Cap Rate 9%
$919,111
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,720 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,631 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - A finished walk-out basement and high ceilings add useful interior space to this residential income property.
Where is this residential income property located?
The property is located at 8837 161st Street Jamaica, NY.
What is the asking price?
The asking price for this property is $1,329,000.
What are key features of this property?
This property features: Finished full basement with walk‑out access; 1910 construction; Baseboard heating with natural gas
