Legal Two-Family Corner
For Sale
Contact for pricing
Pending
98-19 160th Avenue, Howard Beach, NY 11414
Legal 2-family residence operates as a single-family layout with four bedrooms, five full bathrooms, and a finished basement.
Property Size1,968 SF
Days on Market107
Property Features for 98-19 160th Avenue
General Information
Standard status
Pending
Size
1,968 SF
Total Parking Spaces
1
Property subtype
Multifamily
Zoning
R3X
Additional Details
Multifamily Units
2
Building Details
Stories
2
Listing Agency:
Capri Jet Realty Corp
Listed By:
Robert Napolitano · License #NY 31NA0992911
(718) 388-2188
Source:
Crexi
Added: May 21
Changed: Aug 8
Last Checked: Aug 5 at 3:07PM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This legal two-family home is currently functioning as a single-family floor plan, set on a corner lot. The interior features an open first floor with a sunlit living and dining area, along with a sizable custom kitchen offering ample cabinet storage and stainless steel appliances, including two wine refrigerators. The first level also includes two full bathrooms, a coat closet, and a side exit to the house, plus glass doors from the kitchen to a backyard deck. A few steps down from the deck leads to the backyard and a parking space for one vehicle.
On the second floor, there are four bedrooms, including a primary suite with an en suite bathroom featuring a large soaking tub and a built-out walk-in closet. Another bedroom has access to its own full bathroom, which is also reachable from the hallway; the remaining two bedrooms provide additional storage and room for queen-size beds.
A large, fully finished basement includes a kitchenette, full bathroom, storage room, and an open-plan area well suited for recreation space. The property is zoned R3X with FAR 0.49 and max FAR 0.75. Building size is listed as 25 x 45 feet and lot size as 40 x 100 feet.
On the second floor, there are four bedrooms, including a primary suite with an en suite bathroom featuring a large soaking tub and a built-out walk-in closet. Another bedroom has access to its own full bathroom, which is also reachable from the hallway; the remaining two bedrooms provide additional storage and room for queen-size beds.
A large, fully finished basement includes a kitchenette, full bathroom, storage room, and an open-plan area well suited for recreation space. The property is zoned R3X with FAR 0.49 and max FAR 0.75. Building size is listed as 25 x 45 feet and lot size as 40 x 100 feet.
Key Highlights
- Legal 2‑family home operating as a single‑family floor plan with four bedrooms and five full bathrooms
- Open first‑floor layout with living and dining areas plus a sizable custom kitchen with stainless steel appliances and 2 wine refrigerators
- Second floor includes a primary suite with en‑suite bath (large soaking tub) and a built‑out walk‑in closet, plus three additional bedrooms and 2 full baths
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
$48,107
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
4.37%
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%
$962,140
$962.1K
Cap Rate 7%
$687,243
$687.2K
Cap Rate 9%
$534,522
$534.5K
Market Conditions
NOI Build-Up for 1,968 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
$90.9K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$87.5K $44.44/SF
− OpEx
−$39.4K −$20.00/SF
NOI
$48.1K $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%
$962,140
Cap Rate 7%
$687,243
Cap Rate 9%
$534,522
Alternative Uses
Best Use
Apartment 5plus
$687.2K
$601.3K – $801.8K
NOI $48,107 @ 7.0% cap · market cap 4.37%
Second Best
Multifamily LT 5
$465.3K
$407.2K – $542.9K
NOI $32,574 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,558 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 11414, NY
27,320
Population
12,223
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
11,878
Density / Sq Mi
$98,209
Median Household Income
$66,162
Median Earnings
$1,991
Median Rent
$612,800
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 - Legal 2-family residence operates as a single-family layout with four bedrooms, five full bathrooms, and a finished basement.
Where is this duplex located?
The property is located at 98-19 160th Avenue Howard Beach, NY.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: Legal 2‑family home operating as a single‑family floor plan with four bedrooms and five full bathrooms; Open first‑floor layout with living and dining areas plus a sizable custom kitchen with stainless steel appliances and 2 wine refrigerators; Second floor includes a primary suite with en‑suite bath (large soaking tub) and a built‑out walk‑in closet, plus three additional bedrooms and 2 full baths
