1076 Gipson Street Far Rockaway, NY 11691
MULTI_FAMILY - Far Rockaway, NY
Property Features for 1076 Gipson Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 5
- Rooms
- Bedroom 7, Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 3, Bathroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Basement, Bedroom 2
- Parking features
- Off Street, Driveway
- Interior features
- High Ceilings
- Basement
- Full, Finished
- Standard status
- Active
- APN
- 15714-0051
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7098
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard
- Cooling system
- Ductless
- Water source
- Public
Building Details
- Year built
- 2006
- Number of units
- 3
- Flooring type
- Hardwood
- Building materials
- Brick
Listing agent Walter Greene License #10301213684 (516) 455-3316
Listing office Signature Premier Properties 75 Seaman Ave, Huntington, NY (516) 766-7900
Listing date Jul 13, 2026
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.
The first floor features one bedroom and one bath with backyard access. The second and third floors each provide three bedrooms and two baths, with the top floor including high ceilings and a skylight.
The basement is described as having a separate entrance, subject to approvals, offering additional flexibility. The property is positioned for convenient access to shopping, transit, schools, and parks.
Key Highlights
- Legal three‑family home built in 2006 with over 4,000 sq ft including a fully finished basement
- Separate utilities: three gas and electric meters and three boilers
- Cooling and climate comfort: central air plus ductless cooling
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $25.20 |
| − Vacancy | −$6.2k | −$1.55 |
| EGI | $94.6k | $23.65 |
| − OpEx | −$28.4k | −$7.09 |
| NOI | $66.2k | $16.55 |
