Four-Bedroom Duplex with Finished
For Sale
$1,298,000
108-18 63rd Drive, Forest Hills, NY 11375
Two-level residence with updated kitchen features, outdoor deck, and flexible space for household or rental use.
Property Size1,900 SF
Days on Market33
Property Features for 108-18 63rd Drive
General Information
Standard status
Active
Size
1,900 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,132
Building Details
Building Size
1,900 SF
Year Built
1945
Units
2
Listing Agency:
Keller Williams Rlty Landmark
(347) 573-3618
Listed By:
Donna Tribble · License #10401350237
(347) 573-3618
Source:
Nextlevelrealestateny
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 Keller Williams Rlty Landmark
Investment Insights
Based on property information with market context.
Built in 1945, this duplex offers four bedrooms across two levels, with two bedrooms on each floor. The first level includes a renovated kitchen equipped with stainless-steel appliances, hardwood flooring, and a fully finished basement that expands the usable living and recreation area. A private deck adds outdoor space for dining or relaxation.
The second level features a large living room, eat-in kitchen, full bathroom, and wall-to-wall carpeting over existing hardwood floors. The property is located at 108-18 63rd Drive in Forest Hills, with access to schools, shopping, restaurants, public transportation, major highways, parks, recreational facilities, and houses of worship.
The second level features a large living room, eat-in kitchen, full bathroom, and wall-to-wall carpeting over existing hardwood floors. The property is located at 108-18 63rd Drive in Forest Hills, with access to schools, shopping, restaurants, public transportation, major highways, parks, recreational facilities, and houses of worship.
Key Highlights
- Four‑bedroom duplex with two bedrooms on each level
- Fully finished basement provides additional living and entertaining space
- First‑floor kitchen renovated with stainless‑steel appliances
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
$46,444
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
3.58%
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%
$928,880
$928.9K
Cap Rate 7%
$663,486
$663.5K
Cap Rate 9%
$516,044
$516.0K
Market Conditions
NOI Build-Up for 1,900 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
$87.8K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$84.4K $44.44/SF
− OpEx
−$38.0K −$20.00/SF
NOI
$46.4K $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%
$928,880
Cap Rate 7%
$663,486
Cap Rate 9%
$516,044
Alternative Uses
Best Use
Apartment 5plus
$663.5K
$580.6K – $774.1K
NOI $46,444 @ 7.0% cap · market cap 3.58%
Second Best
Multifamily LT 5
$449.3K
$393.1K – $524.1K
NOI $31,448 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,049 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,672
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 - Two-level residence with updated kitchen features, outdoor deck, and flexible space for household or rental use.
Where is this duplex located?
The property is located at 108-18 63rd Drive Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Four‑bedroom duplex with two bedrooms on each level; Fully finished basement provides additional living and entertaining space; First‑floor kitchen renovated with stainless‑steel appliances
