Detached Two-Family
For Sale
$1,348,000
Pending
9612 34th Avenue, Corona, NY 11368
MULTI_FAMILY - Corona, NY
Property Size2,348 SF
Lot Size0.06 Acres
Days on Market171
Property Features for 9612 34th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 5, Bedroom 9, Bedroom 7, Bathroom 1, Bedroom 8, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 1
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Walk-Out Access, Full, Finished
Special listing conditions
Third Party Approval, Probate Listing
Standard status
Pending
APN
01730-0005
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8041
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1930
Number of units
2
Building materials
Frame
Listing Agency:
Mitra Hakimi Realty Group LLC
(718) 268-5588
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: Feb 23
Changed: Aug 2
Last Checked: Aug 13 at 7:06AM
MLS# 964182
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.
Detached two-family residence on a 25x100 lot featuring a 20x54 building with approximately 2,348 square feet of living space. Built in 1930 with frame construction and natural gas heating, the home is served by public water and public sewer.
The first-floor unit is a five-bedroom layout with a living room, a full bathroom, and a functional kitchen. It also provides seamless access to the private backyard and includes a fully finished basement with an additional bathroom. The second-floor unit offers four bedrooms with a dedicated living room, a full bathroom, and a private kitchen.
Inside, key interior features include a first-floor bedroom, a first-floor full bath, and an eat-in kitchen. Configuration and separation across a fully detached structure can support a live-in plus rental setup, with each floor operating as a distinct apartment.
The first-floor unit is a five-bedroom layout with a living room, a full bathroom, and a functional kitchen. It also provides seamless access to the private backyard and includes a fully finished basement with an additional bathroom. The second-floor unit offers four bedrooms with a dedicated living room, a full bathroom, and a private kitchen.
Inside, key interior features include a first-floor bedroom, a first-floor full bath, and an eat-in kitchen. Configuration and separation across a fully detached structure can support a live-in plus rental setup, with each floor operating as a distinct apartment.
Key Highlights
- 25x100 lot with a 20x54 building and approx. 2,348 sq ft of living space
- Fully detached two‑family with separate first- and second‑floor kitchens
- First‑floor unit: five bedrooms, living room, full bath, and direct access to the private backyard
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
$57,395
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
4.26%
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%
$1,147,900
$1.1M
Cap Rate 7%
$819,929
$819.9K
Cap Rate 9%
$637,722
$637.7K
Market Conditions
NOI Build-Up for 2,348 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
$108.5K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.4K $44.44/SF
− OpEx
−$47.0K −$20.00/SF
NOI
$57.4K $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%
$1,147,900
Cap Rate 7%
$819,929
Cap Rate 9%
$637,722
Alternative Uses
Best Use
Apartment 5plus
$819.9K
$717.4K – $956.6K
NOI $57,395 @ 7.0% cap · market cap 4.26%
Second Best
Multifamily LT 5
$555.2K
$485.8K – $647.7K
NOI $38,863 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,168 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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 - Detached two-family home with a finished basement and separate first- and second-floor kitchens, heated by natural gas.
Where is this duplex located?
The property is located at 9612 34th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,348,000.
What are key features of this property?
This property features: 25x100 lot with a 20x54 building and approx. 2,348 sq ft of living space; Fully detached two‑family with separate first- and second‑floor kitchens; First‑floor unit: five bedrooms, living room, full bath, and direct access to the private backyard
