Renovated Two-Family Corner
For Sale
$799,000
22-02 loretta rd, Far Rockaway, NY 11691
MULTI_FAMILY - Far Rockaway, NY
Property Size1,505 SF
Lot Size23.62 Acres
Price / SF$530.90
Days on Market96
Property Features for 22-02 loretta rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 1
Subdivision
Far Rockaway
High school district
27
Standard status
Active
Size
1,505 SF
Lot size
23.62 Acres
Taxes and HOA fees
Tax Annual Amount
4066
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Flooring type
Hardwood, Granite, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
TRANS CONTINENTAL REALTY GROUP INC
(718) 954-3424
Listed By:
Mahbub Uddin
Added: Apr 27
Changed: Jul 30
Last Checked: Jul 31 at 8:06AM
MLS# 11732431
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully brick, semi-detached two-family corner home has been renovated and is set up to function as two separate residences. The property offers two spacious units, each featuring two bedrooms, a bright kitchen, and a full bathroom. Interior finishes include new windows and doors, along with hardwood flooring throughout. A fully finished basement adds additional, usable living space and includes two rooms, a full bathroom, and a separate entrance.
Convenience is a key feature here, with the home positioned just one block from the A train. The surrounding area also provides access to public transportation, shopping, and schools, along with nearby park options.
For buyers seeking an income-ready structure or multi-generational living flexibility, the layout supports comfortable day-to-day use with multiple bathrooms and dedicated basement space. The separate basement entrance, along with the private rear driveway and backyard, adds privacy and practical outdoor space that can be valuable for both owner-occupants and tenants.
Convenience is a key feature here, with the home positioned just one block from the A train. The surrounding area also provides access to public transportation, shopping, and schools, along with nearby park options.
For buyers seeking an income-ready structure or multi-generational living flexibility, the layout supports comfortable day-to-day use with multiple bathrooms and dedicated basement space. The separate basement entrance, along with the private rear driveway and backyard, adds privacy and practical outdoor space that can be valuable for both owner-occupants and tenants.
Key Highlights
- Fully brick semi‑detached two‑family corner home in Far Rockaway (Queens)
- Two separate 2‑bedroom units with bright kitchens and full bathrooms
- Renovated with new windows and doors and hardwood flooring throughout
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.5k | $46.20 |
| − Vacancy | −$2.6k | −$1.76 |
| EGI | $66.9k | $44.44 |
| − OpEx | −$30.1k | −$20.00 |
| NOI | $36.8k | $24.44 |
1,505 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$525.6K
$459.9K – $613.2K
NOI $36,789 @ 7.0% cap · market cap 4.60%
Second Best
Multifamily LT 5
$355.9K
$311.4K – $415.2K
NOI $24,910 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.11M
$970.8K – $1.29M
NOI $77,665 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated two-family with two bedrooms per unit, finished basement, and private driveway and backyard.
Where is this duplex located?
The property is located at 22-02 loretta rd Far Rockaway, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Fully brick semi‑detached two‑family corner home in Far Rockaway (Queens); Two separate 2‑bedroom units with bright kitchens and full bathrooms; Renovated with new windows and doors and hardwood flooring throughout
