Mint Condition Two-Family
For Sale
$829,000
Pending
117-68 126th St, Queens, NY 11420
Immaculate two-family home with modern upgrades and convenient location.
Property Size1,350 SF
Lot Size0.07 Acres
Days on Market269
Property Features for 117-68 126th St
General Information
Standard status
Pending
Size
1,350 SF
Lot size
0.07 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$5,312
Building Details
Building Size
1,350 SF
Year Built
1930
Units
2
Listing Agency:
HomeSource Realty
(917) 442-7900
Listed By:
Kumarchand Ramanand
(917) 442-7900
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 10
Last Checked: Aug 23 at 5:17AM
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 HomeSource Realty
Investment Insights
Based on property information with market context.
This two-family home is in excellent condition, featuring two units with one and two bedrooms respectively. The property includes a full finished basement and a wide private driveway. A large backyard offers outdoor space. The home is equipped with mini-split AC units. The kitchens and bathrooms have been newly renovated with custom designs. Solar panels are installed, contributing to electricity savings. The property is conveniently located near public transportation and shopping. Additional features include a separate hot water heater.
Key Highlights
- Mint condition two‑family home.
- New custom kitchen and baths.
- Full finished basement.
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
$33,000
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
3.98%
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%
$660,000
$660.0K
Cap Rate 7%
$471,429
$471.4K
Cap Rate 9%
$366,667
$366.7K
Market Conditions
NOI Build-Up for 1,350 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
$62.4K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$60.0K $44.44/SF
− OpEx
−$27.0K −$20.00/SF
NOI
$33.0K $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%
$660,000
Cap Rate 7%
$471,429
Cap Rate 9%
$366,667
Alternative Uses
Best Use
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $33,000 @ 7.0% cap · market cap 3.98%
Second Best
Multifamily LT 5
$319.2K
$279.3K – $372.4K
NOI $22,345 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$995.2K
$870.8K – $1.16M
NOI $69,666 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 11420, NY
47,383
Population
14,835
Households
3.2
Avg Household Size
40
Median Age
22%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
22,563
Density / Sq Mi
$98,584
Median Household Income
$45,571
Median Earnings
$2,032
Median Rent
$673,700
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 - Immaculate two-family home with modern upgrades and convenient location.
Where is this duplex located?
The property is located at 117-68 126th St Queens, NY.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Mint condition two‑family home.; New custom kitchen and baths.; Full finished basement.
