Renovated Duplex
For Sale
$1,450,000
9413 Alstyne Avenue, Elmhurst, NY 11373
Two separate residential units arranged across three above-grade levels.
Property Size1,975 SF
Days on Market53
Property Features for 9413 Alstyne Avenue
General Information
Standard status
Active
Size
1,975 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,031
Building Details
Building Size
1,975 SF
Year Built
1945
Stories
3
Listing Agency:
Tony & William R E Brotherhood
(718) 775-2219
Listed By:
Chun H. Xie
Source:
Serhant
Added: Jun 19
Changed: Aug 9
Last Checked: Aug 9 at 5:09PM
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 Tony & William R E Brotherhood
Investment Insights
Based on property information with market context.
This duplex property contains two separate residential units, each configured with 2 bedrooms, 1 living room, and 1 kitchen. The three-level above-grade layout was renovated in 2019, while the building dates to 1945, creating a multi-unit residential asset with established improvements.
The property is located in Elmhurst, Queens, near neighborhood shopping, dining, public transportation, and daily services. Nearby schools include P.S. 110, I.S. 61 Leonardo Da Vinci, and Newtown High School. Major transportation options provide access to surrounding Queens neighborhoods.
The property is located in Elmhurst, Queens, near neighborhood shopping, dining, public transportation, and daily services. Nearby schools include P.S. 110, I.S. 61 Leonardo Da Vinci, and Newtown High School. Major transportation options provide access to surrounding Queens neighborhoods.
Key Highlights
- Two separate residential units, each with 2 bedrooms, 1 living room, and 1 kitchen
- Three above‑grade levels
- Renovated in 2019
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
$48,278
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
3.33%
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%
$965,560
$965.6K
Cap Rate 7%
$689,686
$689.7K
Cap Rate 9%
$536,422
$536.4K
Market Conditions
NOI Build-Up for 1,975 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
$91.2K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$87.8K $44.44/SF
− OpEx
−$39.5K −$20.00/SF
NOI
$48.3K $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%
$965,560
Cap Rate 7%
$689,686
Cap Rate 9%
$536,422
Alternative Uses
Best Use
Apartment 5plus
$689.7K
$603.5K – $804.6K
NOI $48,278 @ 7.0% cap · market cap 3.33%
Second Best
Multifamily LT 5
$467.0K
$408.6K – $544.8K
NOI $32,689 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,919 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
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 residential units arranged across three above-grade levels.
Where is this duplex located?
The property is located at 9413 Alstyne Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Two separate residential units, each with 2 bedrooms, 1 living room, and 1 kitchen; Three above‑grade levels; Renovated in 2019
