Two-Family Brick Home with
For Sale
$1,280,000
108-16 63rd Avenue, Forest Hills, NY 11375
Semi-attached brick two-family home with a built-in garage and a 2-bedroom unit offering direct backyard access.
Property Size1,818 SF
Days on Market117
Property Features for 108-16 63rd Avenue
General Information
Standard status
Active
Size
1,818 SF
Property subtype
Multi Family
Building Details
Building Size
1,818 SF
Listing Agency:
Kmax Realty Inc
Listed By:
Siu Wai Raymond Cheung
(646) 580-3212
Source:
Serhant
Added: May 13
Changed: Sep 3
Last Checked: Sep 5 at 8:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kmax Realty Inc
Investment Insights
Based on property information with market context.
Lovely semi-attached two-family brick home with a built-in garage. The property includes a highly desirable 2-bedroom apartment with direct backyard access. The upper level features two generously sized bedrooms, a spacious living room, a dining area, and a kitchen. The roof was newly redone in 2024.
Set on a quiet, tree-lined street, the home is described as conveniently located near transportation, schools, restaurants, and a nearby tennis center. It also appears to be well-positioned for access to Flushing Meadows Park, retail stores, and major roadways including the Long Island Expressway and Grand Central Parkway.
Bus lines Q23, Q36, and Q88 are noted nearby, along with PS 220 Elementary School, plus junior high schools, high schools, and both public and private schools within a short distance.
Set on a quiet, tree-lined street, the home is described as conveniently located near transportation, schools, restaurants, and a nearby tennis center. It also appears to be well-positioned for access to Flushing Meadows Park, retail stores, and major roadways including the Long Island Expressway and Grand Central Parkway.
Bus lines Q23, Q36, and Q88 are noted nearby, along with PS 220 Elementary School, plus junior high schools, high schools, and both public and private schools within a short distance.
Key Highlights
- Semi‑attached brick two‑family home with a built‑in garage
- 2‑bedroom apartment with direct backyard access
- Upper level includes 2 bedrooms, spacious living room, dining area, and kitchen
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
$44,440
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
3.47%
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%
$888,800
$888.8K
Cap Rate 7%
$634,857
$634.9K
Cap Rate 9%
$493,778
$493.8K
Market Conditions
NOI Build-Up for 1,818 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
$84.0K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.8K $44.44/SF
− OpEx
−$36.4K −$20.00/SF
NOI
$44.4K $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%
$888,800
Cap Rate 7%
$634,857
Cap Rate 9%
$493,778
Alternative Uses
Best Use
Apartment 5plus
$634.9K
$555.5K – $740.7K
NOI $44,440 @ 7.0% cap · market cap 3.47%
Second Best
Multifamily LT 5
$429.9K
$376.1K – $501.5K
NOI $30,091 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,818 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,697
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
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 - Semi-attached brick two-family home with a built-in garage and a 2-bedroom unit offering direct backyard access.
Where is this duplex located?
The property is located at 108-16 63rd Avenue Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Semi‑attached brick two‑family home with a built‑in garage; 2‑bedroom apartment with direct backyard access; Upper level includes 2 bedrooms, spacious living room, dining area, and kitchen
