Duplex with Finished
New
For Sale
$1,329,000
8837 161st Street, Jamaica, NY 11432
Residential Income, Jamaica, NY
Property Size3,384 SF
Lot Size0.04 Acres
Price / SF$392.73
Days on Market1
Property Features for 8837 161st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 6, Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Parking features
On Street
Interior features
First Floor Bedroom, First Floor Full Bath, Entrance Foyer, High Ceilings, Quartz/Quartzite Counters
Basement
Finished, Walk-Out Access, Full
Lot features
Back Yard, Front Yard, Near Public Transit, Near School, Near Shops, Private
Elementary school
Ps 182 Samantha Smith
Middle school
Jhs 217 Robert A Van Wyck
High school
Hillcrest High School
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Directions
Hillside to 162nd St, right turn on 89th Ave and right turn onto 161st.
Standard status
Active
APN
09767-0014
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9311
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
private backyard
custom stained-glass skylight
Building Details
Year built
1910
Number of units
2
Building materials
Brick, Brownstone
Listing Agency:
Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #MA9503235-RE-B
(860) 560-1006
Added: Sep 24
Last Checked: Sep 24 at 2:06PM
MLS# 1054381
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1910 brick duplex contains approximately 3,384 square feet of interior space on a 0.0445-acre lot. The two residences have separate utilities, and the finished basement has its own exterior entrance. Interior details include high ceilings, triple-bay windows, recessed LED lighting, updated flooring, and kitchens with stainless steel appliances. A stained-glass skylight brings natural light into the stairwell, while the exterior features restored masonry and a fenced backyard.
Permit filings cover mechanical improvements that include two Navien tankless water heaters, baseboard heating, and electrical updates. The property is in Jamaica, just off Hillside Avenue and a few blocks from Parsons Boulevard and Jamaica Avenue, with transportation, shopping, and dining nearby.
Permit filings cover mechanical improvements that include two Navien tankless water heaters, baseboard heating, and electrical updates. The property is in Jamaica, just off Hillside Avenue and a few blocks from Parsons Boulevard and Jamaica Avenue, with transportation, shopping, and dining nearby.
Key Highlights
- Two‑family duplex with separate utilities for each residence
- Approximately 3,384 square feet of interior space on a 0.0445‑acre lot
- Finished basement with a separate exterior entrance
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
$82,720
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
6.22%
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%
$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
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
$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 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%
$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
Multifamily LT 5
$800.2K
$700.1K – $933.5K
NOI $56,011 @ 7.0% cap · market cap 4.21%
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
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
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 separate residences have individual utilities, with a private yard and refreshed brick exterior.
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 $1,329,000.
What are key features of this property?
This property features: Two‑family duplex with separate utilities for each residence; Approximately 3,384 square feet of interior space on a 0.0445‑acre lot; Finished basement with a separate exterior entrance
