Two-Family Home With
For Sale
$1,837,000
8433 60 drive, Middle Village, NY 11379
Residential Income, Middle Village, NY
Property Size4,410 SF
Price / SF$416.55
Days on Market102
Property Features for 8433 60 drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 5, Bedroom 8, Laundry Room, Bedroom 9, Bedroom 1
Parking features
Driveway
Patio and Porch features
Patio
Interior features
Walk-In Closet(s)
Subdivision
Middle Village
Standard status
Active
Size
4,410 SF
Taxes and HOA fees
Tax Annual Amount
13231
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
balcony
backyard
Building Details
Year built
2005
Floors in Building
4
Listing Agency:
MAPIT REALTY LLC
Listed By:
Lin Han
(646) 662-8888
Added: Jun 26
Changed: Oct 1
Last Checked: Oct 5 at 12:06PM
MLS# 11848867
Copyright © 2026 My State 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.
Built in 2005, this 4,410-square-foot two-family residence in Middle Village provides distinct living arrangements across four levels. The first-floor apartment is a legal 4-bedroom unit with 2 full bathrooms, a living room, dining room, and full kitchen. Above it, the second and third floors form a duplex with 5 bedrooms, 3 bathrooms, two living rooms, vaulted ceilings, and a balcony. A full walk-in basement adds storage or flexible bonus space, while the property also includes a private driveway, two-car garage, backyard, and patio. Heating is provided by natural gas and forced air, with public water service.
Located at 8433 60th Drive, the property offers access to the Q38, Q29, Q11, and Q21 bus lines, along with the E, M, and R subway trains. I-495 and Queens Boulevard are also nearby, connecting the property with Manhattan and other parts of Queens.
Located at 8433 60th Drive, the property offers access to the Q38, Q29, Q11, and Q21 bus lines, along with the E, M, and R subway trains. I-495 and Queens Boulevard are also nearby, connecting the property with Manhattan and other parts of Queens.
Key Highlights
- 4,410 square feet across four levels
- Legal first‑floor 4‑bedroom apartment with 2 full bathrooms
- Upper‑level duplex includes 5 bedrooms and 3 bathrooms
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
$107,800
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
5.87%
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%
$2,156,000
$2.2M
Cap Rate 7%
$1,540,000
$1.5M
Cap Rate 9%
$1,197,778
$1.2M
Market Conditions
NOI Build-Up for 4,410 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
$203.7K $46.20/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$196.0K $44.44/SF
− OpEx
−$88.2K −$20.00/SF
NOI
$107.8K $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%
$2,156,000
Cap Rate 7%
$1,540,000
Cap Rate 9%
$1,197,778
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $107,800 @ 7.0% cap · market cap 5.87%
Second Best
Multifamily LT 5
$1.04M
$912.4K – $1.22M
NOI $72,993 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,577 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Four-level residential property with separate living arrangements, a basement, private driveway, and backyard.
Where is this duplex located?
The property is located at 8433 60 drive Middle Village, NY.
What is the asking price?
The asking price for this property is $1,837,000.
What are key features of this property?
This property features: 4,410 square feet across four levels; Legal first‑floor 4‑bedroom apartment with 2 full bathrooms; Upper‑level duplex includes 5 bedrooms and 3 bathrooms
