Two-Family Home with Finished
For Sale
$1,090,000
16505 78th Avenue, Fresh Meadows, NY 11366
A legal two-unit residence offers four bedrooms, three full bathrooms and space suited to owner occupancy or rental income.
Property Size1,376 SF
Price / SF$792.15
Days on Market50
Property Features for 16505 78th Avenue
General Information
Standard status
Active
Size
1,376 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,835
Amenities
First Floor Bedroom
First Floor Full Bath
Other
Building Details
Building Size
1,376 SF
Year Built
1930
Buildings
1
Units
2
Listing Agency:
Chase Global Realty Corp
(718) 355-8788
Listed By:
Kayo Lee
(917) 225-5503
Source:
Halknopfrealty
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 27 at 3:12AM
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 Chase Global Realty Corp
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Investment Insights
Based on property information with market context.
This legal two-family home contains 1,376 square feet, with four bedrooms and three full bathrooms. The second floor is arranged with two bedrooms and two full bathrooms, and the first floor is described as being in move-in condition. A full finished basement adds usable interior space. The home was built in 1930 and occupies a 24 × 100-foot lot; its building dimensions are 16 × 32 feet.
Shops, schools and restaurants are nearby. Q65 bus service connects the area with Downtown Flushing/Main Street and Jamaica, and express bus service to Manhattan is nearby.
Shops, schools and restaurants are nearby. Q65 bus service connects the area with Downtown Flushing/Main Street and Jamaica, and express bus service to Manhattan is nearby.
Key Highlights
- Legal two‑family home with four bedrooms and three full bathrooms
- Second floor includes two bedrooms and two full bathrooms
- Full finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,636
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$672,720
$672.7K
Cap Rate 7%
$480,514
$480.5K
Cap Rate 9%
$373,733
$373.7K
Market Conditions
NOI Build-Up for 1,376 SF
Gross rent
$63.6K $46.20/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$61.2K $44.44/SF
− OpEx
−$27.5K −$20.00/SF
NOI
$33.6K $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 Rate 5%
$672,720
Cap Rate 7%
$480,514
Cap Rate 9%
$373,733
Alternative Uses
Best Use
Apartment 5plus
$480.5K
$420.5K – $560.6K
NOI $33,636 @ 7.0% cap · market cap 3.09%
Second Best
Multifamily LT 5
$325.4K
$284.7K – $379.6K
NOI $22,775 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.01M
$887.6K – $1.18M
NOI $71,008 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,363
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A legal two-unit residence offers four bedrooms, three full bathrooms and space suited to owner occupancy or rental income.
Where is this duplex located?
The property is located at 16505 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 home with four bedrooms and three full bathrooms; Second floor includes two bedrooms and two full bathrooms; Full finished basement
