Two-Unit Duplex with Rear
For Sale
$799,000
407 Bch 66th St, Arverne, NY 11692
Two separately metered residences offer flexible owner-occupant or rental use near transit, shopping, waterfront amenities, and the boardwalk.
Property Size1,988 SF
Price / SF$401.91
Days on Market21
Property Features for 407 Bch 66th St
General Information
Standard status
Active
Size
1,988 SF
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Monika M. Krynska SFR rpfeffer@crrli.net
Source:
Searchhomesinlongisland
Added: Aug 28
Changed: Sep 14
Last Checked: Sep 16 at 10:03PM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
Built in 2006, this 1,988-square-foot duplex contains two residential units, each with three bedrooms and two bathrooms. Separate utility metering supports distinct unit operations, while a shared community driveway provides access to the rear of the property.
The home is located at 407 Bch 66th St in Arverne, NY 11692, with shopping, A train service, NYC Ferry service, the beach, and the boardwalk nearby. The two-unit configuration accommodates a range of residential income or owner-occupancy arrangements, subject to applicable requirements.
The home is located at 407 Bch 66th St in Arverne, NY 11692, with shopping, A train service, NYC Ferry service, the beach, and the boardwalk nearby. The two-unit configuration accommodates a range of residential income or owner-occupancy arrangements, subject to applicable requirements.
Key Highlights
- Two residential units, each with 3 bedrooms and 2 bathrooms
- 1,988 square feet; built in 2006
- Utilities are separately metered for each unit
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
$48,596
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
6.08%
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%
$971,920
$971.9K
Cap Rate 7%
$694,229
$694.2K
Cap Rate 9%
$539,956
$540.0K
Market Conditions
NOI Build-Up for 1,988 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
$91.8K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.4K $44.44/SF
− OpEx
−$39.8K −$20.00/SF
NOI
$48.6K $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 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%
$971,920
Cap Rate 7%
$694,229
Cap Rate 9%
$539,956
Alternative Uses
Best Use
Apartment 5plus
$694.2K
$607.5K – $809.9K
NOI $48,596 @ 7.0% cap · market cap 6.08%
Second Best
Multifamily LT 5
$470.1K
$411.3K – $548.4K
NOI $32,905 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,590 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 11692, NY
22,776
Population
8,475
Households
2.7
Avg Household Size
36
Median Age
27%
College-Educated
86%
High-School Grad
1.0 sq mi
ZIP Area
22,776
Density / Sq Mi
$49,507
Median Household Income
$39,737
Median Earnings
$1,274
Median Rent
$650,000
Median Home Value
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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 - Two separately metered residences offer flexible owner-occupant or rental use near transit, shopping, waterfront amenities, and the boardwalk.
Where is this duplex located?
The property is located at 407 Bch 66th St Arverne, 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 residential units, each with 3 bedrooms and 2 bathrooms; 1,988 square feet; built in 2006; Utilities are separately metered for each unit
