Brick Tudor Duplex with Finished
For Sale
$2,198,000
68-41 Dartmouth Street, Forest Hills, NY 11375
Residential Income, Forest Hills, NY
Property Size4,000 SF
Lot Size0.06 Acres
Price / SF$549.50
Days on Market94
Property Features for 68-41 Dartmouth Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bedroom 1, Dining Room, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 2, Basement, Bathroom 1
Parking
4
Parking features
Garage
Interior features
Formal Dining, High Ceilings, Storage
Exterior features
Garden
Fireplace
1
Basement
Full, Finished
Elementary school
Ps 144 Col Jeromus Remsen
Middle school
Jhs 190 Russell Sage
High school
Metropolitan Expeditionary Lrning
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Standard status
Active
APN
03204-0043
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15675
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
fireplace
sunroom
finished basement
laundry
Building Details
Year built
1930
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Architectural style
Tudor
Additional Structures
Storage
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Carolina Grunner
(718) 316-0422
Added: Jun 18
Changed: Sep 14
Last Checked: Sep 19 at 10:06AM
MLS# 1015524
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 legal two-family Tudor residence is built of brick and provides approximately 4,000 square feet of livable area on a 0.0574-acre lot. The first apartment includes two bedrooms, a full bathroom, eat-in kitchen, formal dining room, living room with fireplace, and sunroom. The second apartment offers a similar two-bedroom layout and was renovated in 2019. A finished attic adds another full bathroom and flexible interior space, while the finished basement contains laundry and utility areas, private egress, and access to the attached two-car garage.
The home is located in Forest Hills, half a block from Forest Hills Gardens and near West Side Tennis Club and Forest Hills Stadium. Continental Avenue/71st Avenue E/F/R and the LIRR are 0.4 miles away. Austin Street provides nearby cafes, restaurants, shopping, and everyday services. Public water and sewer serve the property, with baseboard heating, window or wall/window cooling units, hardwood flooring, and a garden.
The home is located in Forest Hills, half a block from Forest Hills Gardens and near West Side Tennis Club and Forest Hills Stadium. Continental Avenue/71st Avenue E/F/R and the LIRR are 0.4 miles away. Austin Street provides nearby cafes, restaurants, shopping, and everyday services. Public water and sewer serve the property, with baseboard heating, window or wall/window cooling units, hardwood flooring, and a garden.
Key Highlights
- Legal 2‑family Tudor residence with approximately 4,000 sq ft of livable area
- 0.0574‑acre lot with 20.5 x 68 building dimensions and 25x100 lot dimensions
- Two 2‑bedroom apartments; second‑floor apartment renovated in 2019
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
$97,778
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
4.45%
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%
$1,955,560
$2.0M
Cap Rate 7%
$1,396,829
$1.4M
Cap Rate 9%
$1,086,422
$1.1M
Market Conditions
NOI Build-Up for 4,000 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
$184.8K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$177.8K $44.44/SF
− OpEx
−$80.0K −$20.00/SF
NOI
$97.8K $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%
$1,955,560
Cap Rate 7%
$1,396,829
Cap Rate 9%
$1,086,422
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,778 @ 7.0% cap · market cap 4.45%
Second Best
Multifamily LT 5
$945.8K
$827.6K – $1.10M
NOI $66,206 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 two-family residence with two apartments, attic space, garage access, and public utilities.
Where is this duplex located?
The property is located at 68-41 Dartmouth Street Forest Hills, NY.
What is the asking price?
The asking price for this property is $2,198,000.
What are key features of this property?
This property features: Legal 2‑family Tudor residence with approximately 4,000 sq ft of livable area; 0.0574‑acre lot with 20.5 x 68 building dimensions and 25x100 lot dimensions; Two 2‑bedroom apartments; second‑floor apartment renovated in 2019
