Legal Two-Family
For Sale
$1,090,000
160-16 78th Avenue, Fresh Meadows, NY 11366
Two-family configuration offers flexibility for owner occupancy with tenant income potential.
Property Size1,481 SF
Days on Market89
Property Features for 160-16 78th Avenue
General Information
Standard status
Active
Size
1,481 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,023
Building Details
Building Size
1,481 SF
Year Built
1925
Tenancy
Multi
Listing Agency:
RealMart Realty LLC
Listed By:
Qizhan Jack Yao · License #0902217
(732) 727-2285
Source:
Barbieliteam
Added: Jun 23
Changed: Sep 18
Last Checked: Sep 19 at 10:44AM
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 RealMart Realty LLC
Investment Insights
Based on property information with market context.
This legal two-family residence provides a flexible duplex configuration for an owner-occupant or rental operation. Built in 1925, the property is offered as-is and presents an opportunity for renovation and modernization based on the new owner's plans.
The home is located at 160-16 78th Avenue in Fresh Meadows, NY 11366. The surrounding area is described as residential, with shopping, parks, major highways, and transportation options nearby.
The home is located at 160-16 78th Avenue in Fresh Meadows, NY 11366. The surrounding area is described as residential, with shopping, parks, major highways, and transportation options nearby.
Key Highlights
- Legal two‑family residence with duplex configuration
- Built in 1925
- Offered for sale in as‑is condition
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
$36,202
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
3.32%
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%
$724,040
$724.0K
Cap Rate 7%
$517,171
$517.2K
Cap Rate 9%
$402,244
$402.2K
Market Conditions
NOI Build-Up for 1,481 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
$68.4K $46.20/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$65.8K $44.44/SF
− OpEx
−$29.6K −$20.00/SF
NOI
$36.2K $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%
$724,040
Cap Rate 7%
$517,171
Cap Rate 9%
$402,244
Alternative Uses
Best Use
Apartment 5plus
$517.2K
$452.5K – $603.4K
NOI $36,202 @ 7.0% cap · market cap 3.32%
Second Best
Multifamily LT 5
$350.2K
$306.4K – $408.6K
NOI $24,513 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.09M
$955.3K – $1.27M
NOI $76,427 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 11366, NY
14,430
Population
4,915
Households
2.9
Avg Household Size
41
Median Age
52%
College-Educated
85%
High-School Grad
1.5 sq mi
ZIP Area
9,620
Density / Sq Mi
$117,402
Median Household Income
$58,028
Median Earnings
$2,101
Median Rent
$950,200
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 - Two-family configuration offers flexibility for owner occupancy with tenant income potential.
Where is this duplex located?
The property is located at 160-16 78th Avenue Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Legal two‑family residence with duplex configuration; Built in 1925; Offered for sale in as‑is condition
