Renovated Brick Duplex with
22-02 loretta rd, Far Rockaway, NY 11691
For Sale
$799,000
Pending
Residential Income, Far Rockaway, NY
Property Size1,505 SF
Lot Size23.62 Acres
Days on Market197
Property Features for 22-02 loretta rd
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Water source
Amenities
private rear driveway
private backyard
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
TRANS CONTINENTAL REALTY GROUP INC
(718) 954-3424
Listed By:
Mahbub Uddin
Added: Apr 27
Changed: Oct 26
Last Checked: Nov 9 at 5:06AM
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.
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Investment Insights
Based on property information with market context.
This semi-detached duplex is a renovated brick residence with two separate units. Each apartment includes two bedrooms, a kitchen, and a full bathroom, while hardwood flooring, new windows, and new doors add to the updated interior. The finished basement contributes two additional rooms, another full bathroom, and its own entrance. Built in 1940, the property measures 1,505 square feet and includes a flat roof, public water service, natural-gas baseboard heat, tile and granite finishes, and hardwood flooring.
A private rear driveway and backyard provide additional exterior features. The home is located in Far Rockaway, one block from the A train and near parks, public transportation, shopping, and schools.
A private rear driveway and backyard provide additional exterior features. The home is located in Far Rockaway, one block from the A train and near parks, public transportation, shopping, and schools.
Key Highlights
- Two separate residential units, each with 2 bedrooms, a kitchen, and a full bathroom
- Finished basement with 2 rooms, a full bathroom, and a separate entrance
- Renovated brick construction with new windows, new doors, and hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,190
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,800
$743.8K
Cap Rate 7%
$531,286
$531.3K
Cap Rate 9%
$413,222
$413.2K
Market Conditions
NOI Build-Up for 1,505 SF
Gross rent
$57.8K $38.40/SF
− Vacancy
−$4.7K −$3.10/SF
EGI
$53.1K $35.30/SF
− OpEx
−$15.9K −$10.59/SF
NOI
$37.2K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,800
Cap Rate 7%
$531,286
Cap Rate 9%
$413,222
Alternative Uses
Best Use
Multifamily LT 5
$531.3K
$464.9K – $619.8K
NOI $37,190 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$525.6K
$459.9K – $613.2K
NOI $36,789 @ 7.0% cap · market cap 4.60%
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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,160
Businesses Nearby
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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
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Market
Properties on Market for Duplexes in Far Rockaway
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family corner residence with finished basement space, private driveway, and rear yard.
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: Two separate residential units, each with 2 bedrooms, a kitchen, and a full bathroom; Finished basement with 2 rooms, a full bathroom, and a separate entrance; Renovated brick construction with new windows, new doors, and hardwood flooring
