Duplex with Finished
For Sale
$1,249,000
8837 161st Street, Jamaica, NY 11432
Two three-bedroom residences have separate utilities, with additional finished space and an exterior entrance below.
Property Size3,384 SF
Price / SF$369.09
Days on Market44
Property Features for 8837 161st Street
General Information
Standard status
Active
Size
3,384 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Public Transit
Yes
Amenities
private backyard
Building Details
Year Built
1910
Listing Agency:
Greene Realty Group
Listed By:
Derek J. Greene · License #10371200613
(888) 278-5840
Source:
Neilcharlesrealestate
Added: Sep 24
Changed: Nov 5
Last Checked: Nov 5 at 9:07AM
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 Greene Realty Group
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 renovated duplex contains approximately 3,384 square feet of interior living area across two three-bedroom, one-bath residences and a finished basement. The lower level adds three rooms, a full bathroom, and its own exterior entrance. Each residence has separate utilities. Interior features include high ceilings, triple-bay windows, recessed LED lighting, updated flooring, and kitchens with stainless steel appliances. A stained-glass skylight accents the stairway. Improvements also include new drainage, fencing around the backyard, two tankless water heaters, baseboard heating, and updated electrical. The home dates to 1910.
The property is just off Hillside Avenue, two streets from the F train and Parsons Boulevard. Shopping, dining, and Jamaica Avenue are also identified as nearby destinations.
The property is just off Hillside Avenue, two streets from the F train and Parsons Boulevard. Shopping, dining, and Jamaica Avenue are also identified as nearby destinations.
Key Highlights
- Two residences, each with 3 bedrooms and 1 bathroom
- Approximately 3,384 square feet of interior living space
- Finished basement has 3 rooms, a full bathroom, and a separate exterior entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,720
Cap Rate
6.62%
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 6.62%
Second Best
Multifamily LT 5
$800.2K
$700.1K – $933.5K
NOI $56,011 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,631 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences have separate utilities, with additional finished space and an exterior entrance below.
Where is this duplex located?
The property is located at 8837 161st Street Jamaica, NY.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 bathroom; Approximately 3,384 square feet of interior living space; Finished basement has 3 rooms, a full bathroom, and a separate exterior entrance
