Brick Two-Family Home with
For Sale
$1,150,000
108-16 63rd Avenue, Forest Hills, NY 11375
Residential, Forest Hills, NY
Property Size1,818 SF
Lot Size0.06 Acres
Price / SF$632.56
Days on Market141
Property Features for 108-16 63rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Garage
Interior features
Refrigerator, Stove
Subdivision
Forest Hills
Standard status
Active
Size
1,818 SF
Lot size
0.06 Acres
Building Details
Number of units
1
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Kmax Realty Inc
(929) 456-3987
Listed By:
Siu Wai Raymond Cheung
(646) 580-3212
Added: May 13
Changed: Sep 11
Last Checked: Sep 30 at 2:06PM
MLS# 501416
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 semi-attached brick duplex contains 1,818 square feet and includes a built-in garage. One residence offers two bedrooms, a living room, dining area, kitchen, and direct access to the backyard. Hardwood flooring, a refrigerator, and a stove are included. The roof was replaced in 2024.
The property is located at 108-16 63rd Avenue in Forest Hills, NY 11375, near NYCT bus routes Q23, Q36, and Q88, PS 220 Elementary School, restaurants, retail stores, Flushing Meadows Park, the Long Island Expressway, and Grand Central Parkway. The lot measures 0.0597 acres.
The property is located at 108-16 63rd Avenue in Forest Hills, NY 11375, near NYCT bus routes Q23, Q36, and Q88, PS 220 Elementary School, restaurants, retail stores, Flushing Meadows Park, the Long Island Expressway, and Grand Central Parkway. The lot measures 0.0597 acres.
Key Highlights
- Two‑family brick duplex with 1,818 square feet
- Built‑in garage and direct backyard access
- Two‑bedroom residence with living, dining, and kitchen areas
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
3.86%
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 3.86%
Second Best
Multifamily LT 5
$429.9K
$376.1K – $501.5K
NOI $30,091 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,818 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,208
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 - Semi-attached duplex with hardwood floors, kitchen appliances, and direct backyard access from one residence.
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 $1,150,000.
What are key features of this property?
This property features: Two‑family brick duplex with 1,818 square feet; Built‑in garage and direct backyard access; Two‑bedroom residence with living, dining, and kitchen areas
