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    The Largest CRE Database in the US with Over 1 Million Listings

    11141 77Th Ave Forest Hills, NY 11375

    Sponsored
    For Sale
    Pending
    $1,399,000

    Hi Ranch, Duplex - Forest Hills, NY

    Type:Duplex
    Property size:
    2,381 SF
    Lot size:
    0.06 Acres
    Days on Market:
    184
    Last Refresh:
    Jan 25 at 11:06 am

    Property Features for 11141 77Th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Pending
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    4
    APN
    03342-0042
    Parking
    4
    Parking features
    Carport, Driveway, Garage
    Interior features
    First Floor Bedroom, First Floor Full Bath, Granite Counters
    Basement Y/N
    1
    Size
    2,381 SF
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Radiant
    Cooling system
    Ductless

    Building Details

    Year built
    1935
    Number of units
    2
    Flooring type
    Hardwood, Tile, Tile - Ceramic
    Building materials
    Brick, Frame
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Chris Ramnarain CBR
    Chris Ramnarain CBR

    Payless Realty Of NY Inc. (718) 322-8400

    Listing agent Chris Ramnarain CBR (718) 322-8400 License #10311208554

    Listing date Jul 26, 2025

    MLS# 862828 Listing URL

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Forest Hills Two-Family Brick Residence

    Located in Forest Hills, this two-family brick residence, constructed in 1935, offers 3,047 sq ft of living space. The property includes six bedrooms and five full bathrooms across three levels, along with a fully finished basement. The first unit features two bedrooms, one bathroom, a living room, and a renovated eat-in kitchen with custom cherry cabinets and granite countertops. The second unit offers four bedrooms (adaptable to five), three full bathrooms, laundry facilities, a living room with a front-facing balcony, and a modern kitchen with high-end finishes. The fully finished basement, accessible via a rear entrance, includes a laundry room, additional living space, and a full bathroom, suitable for duplex rental. The home is equipped with nine ductless split units for climate control. The property has a private backyard, a detached garage, and a driveway accommodating multiple vehicles, with on-site parking for two or more cars. The property is zoned for the PS 101 School in the Gardens, with access to JHS 190 Russell Sage and Hillcrest High School. Situated off Queens Boulevard, the location provides access to express E/F trains within a 5-minute walk and the LIRR approximately 15 minutes away, offering access to Penn Station and Grand Central Terminal. The property is near Austin Street's shopping and dining options, seasonal farmers markets, and cultural and entertainment venues. The property offers potential for medical or professional office use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Forest Hills
    County
    Queens
    State
    New York
    Longitude
    -73.83424
    Latitude
    40.715882

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    FAQs

    What type of property is this?
    Duplex - Meticulously maintained two-family brick home in prime Forest Hills location.
    Where is this duplex located?
    The property is located at 11141 77Th Ave Forest Hills, NY.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: - Prime Forest Hills location: 5-minute walk to express E/F trains and 15 minutes to LIRR.; - Versatile 2-family brick home: Ideal for homeowners, investors, or professionals with 6 bedrooms and 5 full bathrooms.; - Modern amenities and updates: Renovated kitchens feature granite countertops and custom cherry cabinets.
    (917) 705-1396
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    11141 77Th Ave Forest Hills, NY 11375
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    Forest Hills, NY 11375
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11141 77Th Ave Forest Hills, NY 11375
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    We can help!
    Listing Contact
    Chris Ramnarain CBR
    Chris Ramnarain CBR
    (917) 705-1396
    Learn more
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