Residential Income
New
For Sale
$724,950
97-49 91st Street, Ozone Park, NY 11416
Built in 1940, the property includes an unfinished full basement and off-street parking.
Property Size1,512 SF
Days on Market3
Property Features for 97-49 91st Street
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,583
Amenities
Hot Water, Natural Gas
Full, Unfinished
Eat-in Kitchen, Soaking Tub
Off Street
Building Details
Building Size
1,512 SF
Year Built
1940
Listing Agency:
ISLAND ADVANTAGE REALTY LLC
Listed By:
Todd A. Yovino · License #49YO0956714
(631) 351-6000
Source:
Evrealestate
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 1 at 10:42AM
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 ISLAND ADVANTAGE REALTY LLC
Investment Insights
Based on property information with market context.
Located at 97-49 91st Street in Ozone Park, Queens, this residential income property was built in 1940. Interior features include an eat-in kitchen and soaking tub, with hot water and natural gas listed for the property.
The building also has a full, unfinished basement and off-street parking.
The building also has a full, unfinished basement and off-street parking.
Key Highlights
- Built in 1940
- Full, unfinished basement
- Eat‑in kitchen and soaking tub
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
$36,960
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
5.10%
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%
$739,200
$739.2K
Cap Rate 7%
$528,000
$528.0K
Cap Rate 9%
$410,667
$410.7K
Market Conditions
NOI Build-Up for 1,512 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
$69.9K $46.20/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$67.2K $44.44/SF
− OpEx
−$30.2K −$20.00/SF
NOI
$37.0K $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%
$739,200
Cap Rate 7%
$528,000
Cap Rate 9%
$410,667
Alternative Uses
Best Use
Apartment 5plus
$528.0K
$462.0K – $616.0K
NOI $36,960 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$975.3K – $1.30M
NOI $78,026 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,909
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1940, the property includes an unfinished full basement and off-street parking.
Where is this residential income property located?
The property is located at 97-49 91st Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $724,950.
What are key features of this property?
This property features: Built in 1940; Full, unfinished basement; Eat‑in kitchen and soaking tub
