Vacant Two-Family
For Sale
$815,000
6114 56th Drive, Maspeth, NY 11378
Residential Income, Maspeth, NY
Property Size1,332 SF
Lot Size0.07 Acres
Price / SF$611.86
Days on Market93
Property Features for 6114 56th Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Basement, Bathroom 1, Bedroom 1, Bedroom 2
Parking features
On Street
Interior features
Eat-in Kitchen, Washer/Dryer Hookup
Basement
Unfinished
Elementary school
Ps 153 Maspeth Elementary
Middle school
Is 73 Frank Sansivieri Intermediate School (The)
High school
Grover Cleveland High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
Use Google Maps
Standard status
Active
APN
02711-0048
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4294
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
2
Flooring type
Carpet
Building materials
Frame
Listing Agency:
Capri Jet Realty Corp
(718) 388-2188
Listed By:
Anetta Wojtasiewicz
(347) 882-6469
Added: Jun 2
Changed: Sep 1
Last Checked: Sep 2 at 3:06AM
MLS# 1007799
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.
This 1930 frame duplex contains 1,332 square feet of living space on a 2,950-square-foot lot and will be delivered vacant. The first-floor apartment includes two bedrooms, a full bathroom, kitchen, washer, wall and window A/C units, carpeting, and natural-gas forced-air heat. The second floor provides a one-bedroom, one-bathroom apartment. An unfinished basement adds storage space, while street parking is available.
The property is close to the Brooklyn-Queens Expressway, Grand Avenue, shopping, restaurants, schools, and public transportation. It is served by public water and public sewer, with water availability noted among the utilities. Zoning is R4-1, with a 0.45 FAR and 1 maximum FAR.
The property is close to the Brooklyn-Queens Expressway, Grand Avenue, shopping, restaurants, schools, and public transportation. It is served by public water and public sewer, with water availability noted among the utilities. Zoning is R4-1, with a 0.45 FAR and 1 maximum FAR.
Key Highlights
- Vacant legal two‑family duplex with 1,332 square feet of living space
- 2,950‑square‑foot lot with an 18 x 21 ft building footprint
- First‑floor apartment includes 2 bedrooms and 1 full bathroom
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
$32,560
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
4.00%
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%
$651,200
$651.2K
Cap Rate 7%
$465,143
$465.1K
Cap Rate 9%
$361,778
$361.8K
Market Conditions
NOI Build-Up for 1,332 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
$61.5K $46.20/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$59.2K $44.44/SF
− OpEx
−$26.6K −$20.00/SF
NOI
$32.6K $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%
$651,200
Cap Rate 7%
$465,143
Cap Rate 9%
$361,778
Alternative Uses
Best Use
Apartment 5plus
$465.1K
$407.0K – $542.7K
NOI $32,560 @ 7.0% cap · market cap 4.00%
Second Best
Multifamily LT 5
$315.0K
$275.6K – $367.5K
NOI $22,047 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$982.0K
$859.2K – $1.15M
NOI $68,738 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
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 - Legal two-family layout with one- and two-bedroom apartments, public utilities, and an unfinished basement.
Where is this duplex located?
The property is located at 6114 56th Drive Maspeth, NY.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Vacant legal two‑family duplex with 1,332 square feet of living space; 2,950‑square‑foot lot with an 18 x 21 ft building footprint; First‑floor apartment includes 2 bedrooms and 1 full bathroom
