Renovated Two-Family
For Sale
$1,350,000
14629 61st Road, Flushing, NY 11367
Attached townhouse with a separate upper-level apartment, private driveway, yards, and two heating systems.
Property Size1,729 SF
Days on Market13
Property Features for 14629 61st Road
General Information
Standard status
Active
Size
1,729 SF
Total Parking Spaces
2
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,444
Building Details
Building Size
1,729 SF
Year Built
1945
Units
2
Listing Agency:
Landmark International R E LLC
(718) 898-8300
Listed By:
Rong Li
(347) 575-6387
Source:
Cornerstonemyhome
Added: Sep 7
Changed: Sep 18
Last Checked: Sep 18 at 3:49PM
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 Landmark International R E LLC
Investment Insights
Based on property information with market context.
This legal 2-family attached townhouse, built in 1945, provides a five-bedroom, three-bathroom configuration across two distinct living areas. The first-floor duplex includes three bedrooms and has been newly renovated, while the second floor contains a separate two-bedroom apartment. The property also includes a private driveway, front and rear yards, and two separate heating systems.
The property is zoned R4 and sits near Main Street, supermarkets, restaurants, and shopping. Access to the LIE/495 is also nearby, supporting convenient connectivity throughout the surrounding area.
The property is zoned R4 and sits near Main Street, supermarkets, restaurants, and shopping. Access to the LIE/495 is also nearby, supporting convenient connectivity throughout the surrounding area.
Key Highlights
- Legal 2‑family attached townhouse with 5 bedrooms and 3 full bathrooms
- First‑floor duplex includes 3 bedrooms and has been newly renovated
- Separate second‑floor apartment with 2 bedrooms
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
$42,264
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
3.13%
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%
$845,280
$845.3K
Cap Rate 7%
$603,771
$603.8K
Cap Rate 9%
$469,600
$469.6K
Market Conditions
NOI Build-Up for 1,729 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
$79.9K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$76.8K $44.44/SF
− OpEx
−$34.6K −$20.00/SF
NOI
$42.3K $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%
$845,280
Cap Rate 7%
$603,771
Cap Rate 9%
$469,600
Alternative Uses
Best Use
Apartment 5plus
$603.8K
$528.3K – $704.4K
NOI $42,264 @ 7.0% cap · market cap 3.13%
Second Best
Multifamily LT 5
$408.8K
$357.7K – $477.0K
NOI $28,618 @ 7.0% cap · market cap 2.12%
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,225 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
Explore this area
Business Placement
Demographics for 11367, NY
43,112
Population
15,693
Households
2.7
Avg Household Size
37
Median Age
46%
College-Educated
84%
High-School Grad
1.9 sq mi
ZIP Area
22,691
Density / Sq Mi
$75,804
Median Household Income
$45,052
Median Earnings
$1,774
Median Rent
$519,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Attached townhouse with a separate upper-level apartment, private driveway, yards, and two heating systems.
Where is this duplex located?
The property is located at 14629 61st Road Flushing, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Legal 2‑family attached townhouse with 5 bedrooms and 3 full bathrooms; First‑floor duplex includes 3 bedrooms and has been newly renovated; Separate second‑floor apartment with 2 bedrooms
