Two-Family Home with Duplex
For Sale
$1,873,000
8433 60 drive, Middle Village, NY 11379
MULTI_FAMILY - Middle Village, NY
Property Size4,410 SF
Price / SF$424.72
Days on Market49
Property Features for 8433 60 drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 7, Bedroom 2, Bedroom 6, Laundry Room, Bedroom 8, Bedroom 9, Bedroom 5
Parking features
Driveway
Patio and Porch features
Patio
Interior features
Walk-In Closet(s)
Subdivision
Middle Village
Standard status
Active
Size
4,410 SF
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
2005
Floors in Building
4
Listing Agency:
MAPIT REALTY LLC
Listed By:
Lin Han
Added: Jun 26
Changed: Aug 3
Last Checked: Aug 13 at 10:06AM
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.
This meticulously maintained two-family home was built in 2005 and is arranged across four spacious levels. The first floor is a legal 4-bedroom apartment with two full bathrooms, a generous living room, formal dining room, and a full kitchen, suited to an owner-occupant or long-term rental. The second and third floors function as a duplex with vaulted ceilings, an elegant balcony, two full living rooms, five bedrooms, and three bathrooms, providing a bright, airy layout.
A full walk-in basement adds storage and potential bonus space. Outside, the property includes a private driveway, a two-car garage, and a backyard for everyday convenience. The home is also described as having low taxes. It is located just minutes from the Q38, Q29, Q11, and Q21 bus lines, as well as the E, M, and R subway trains, with access to I-495 and Queens Boulevard.
For tenants, buyers, or operators, the split configuration offers clear, separate living spaces while keeping the overall property as one asset. The combination of a complete 4-bedroom apartment and a larger duplex above can support flexible occupancy planning, whether you are seeking an owner-occupied arrangement or an all-rental setup.
A full walk-in basement adds storage and potential bonus space. Outside, the property includes a private driveway, a two-car garage, and a backyard for everyday convenience. The home is also described as having low taxes. It is located just minutes from the Q38, Q29, Q11, and Q21 bus lines, as well as the E, M, and R subway trains, with access to I-495 and Queens Boulevard.
For tenants, buyers, or operators, the split configuration offers clear, separate living spaces while keeping the overall property as one asset. The combination of a complete 4-bedroom apartment and a larger duplex above can support flexible occupancy planning, whether you are seeking an owner-occupied arrangement or an all-rental setup.
Key Highlights
- Two‑family home built in 2005 with four spacious levels plus a full walk‑in basement
- Legal 4‑bedroom, 2 full‑bath apartment on the first floor with living room, formal dining room, and full kitchen
- Second and third floors feature a duplex with vaulted ceilings, balcony, two full living rooms, 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
5.76%
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 5.76%
Second Best
Multifamily LT 5
$1.04M
$912.4K – $1.22M
NOI $72,993 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,577 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway 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
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 - Built in 2005, this two-family property offers a legal 4-bedroom unit and a spacious duplex above.
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 $1,873,000.
What are key features of this property?
This property features: Two‑family home built in 2005 with four spacious levels plus a full walk‑in basement; Legal 4‑bedroom, 2 full‑bath apartment on the first floor with living room, formal dining room, and full kitchen; Second and third floors feature a duplex with vaulted ceilings, balcony, two full living rooms, 5 bedrooms, and 3 bathrooms
