Detached Duplex with Finished
For Sale
$918,000
97-33 89th Street, Ozone Park, NY 11416
Two separate residences offer living, dining, and kitchen areas, plus three full bathrooms and additional finished space.
Property Size1,805 SF
Days on Market52
Property Features for 97-33 89th Street
General Information
Standard status
Active
Size
1,805 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,528
Building Details
Building Size
1,805 SF
Year Built
1910
Units
2
Listing Agency:
Century Homes Realty Group LLC
(646) 267-9025
Listed By:
Alba D. Vollo CBR
(646) 267-9025
Source:
Cohenandcohenrealty
Added: Jun 30
Changed: Aug 20
Last Checked: Aug 20 at 5:33AM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This detached duplex contains two residential units, each arranged with two bedrooms, a living room, dining area, and full kitchen. The property includes three full bathrooms in total. A fully finished basement with its own entrance provides additional interior space for recreation, extended family use, or entertaining.
The home is in Ozone Park at 97-33 89th Street, Ozone Park, NY 11416. Public transportation options include the A train and bus routes Q8, Q7, and Q24, while major highways are also accessible. Built in 1910, the property offers a two-family configuration suited to owner occupancy or investment use.
The home is in Ozone Park at 97-33 89th Street, Ozone Park, NY 11416. Public transportation options include the A train and bus routes Q8, Q7, and Q24, while major highways are also accessible. Built in 1910, the property offers a two-family configuration suited to owner occupancy or investment use.
Key Highlights
- Detached two‑family property with 2 bedrooms on each floor
- Separate living room, dining room, and full kitchen in each unit
- Three full bathrooms throughout the home
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
$44,122
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
4.81%
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%
$882,440
$882.4K
Cap Rate 7%
$630,314
$630.3K
Cap Rate 9%
$490,244
$490.2K
Market Conditions
NOI Build-Up for 1,805 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
$83.4K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.2K $44.44/SF
− OpEx
−$36.1K −$20.00/SF
NOI
$44.1K $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%
$882,440
Cap Rate 7%
$630,314
Cap Rate 9%
$490,244
Alternative Uses
Best Use
Apartment 5plus
$630.3K
$551.5K – $735.4K
NOI $44,122 @ 7.0% cap · market cap 4.81%
Second Best
Multifamily LT 5
$426.8K
$373.5K – $497.9K
NOI $29,876 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,147 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 11416, NY
28,381
Population
8,047
Households
3.5
Avg Household Size
35
Median Age
25%
College-Educated
78%
High-School Grad
0.7 sq mi
ZIP Area
40,544
Density / Sq Mi
$85,544
Median Household Income
$43,899
Median Earnings
$1,964
Median Rent
$733,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer living, dining, and kitchen areas, plus three full bathrooms and additional finished space.
Where is this duplex located?
The property is located at 97-33 89th Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $918,000.
What are key features of this property?
This property features: Detached two‑family property with 2 bedrooms on each floor; Separate living room, dining room, and full kitchen in each unit; Three full bathrooms throughout the home
