Two-Unit
407 Fairview Ave. Ridgewood Ny, Queens, NY 11385
For Sale
$500,000
The two-unit layout accommodates owner occupancy or rental use.
Property Size1,568 SF
Lot Size0.04 Acres
Price / SF$318.88
Days on Market126
Property Features for 407 Fairview Ave. Ridgewood Ny
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Stories
Construction
Listing Agency:
WILSON STANLEY E
Listed By:
Stanley Wilson
(917) 450-8087
Source:
Crystinandcorealty
Added: Jul 6
Changed: Nov 6
Last Checked: Nov 7 at 3:14PM
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 WILSON STANLEY E
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1920, this two-story frame duplex contains two residential units with a combined 1,568 square feet of living area. The property has six bedrooms and three bathrooms, with reported average overall condition, average interior and bathroom condition, and a kitchen in good condition.
The building occupies a 16.5' x 95' lot in Ridgewood, Queens. Its zoning designation is R6B, and it is classified as a B2 two-family dwelling. The property is currently owner-occupied and occupied.
The building occupies a 16.5' x 95' lot in Ridgewood, Queens. Its zoning designation is R6B, and it is classified as a B2 two-family dwelling. The property is currently owner-occupied and occupied.
Key Highlights
- Two residential units with a combined 1,568 square feet of living area
- Six bedrooms and three bathrooms across the property
- Two‑story frame construction; built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,329
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,580
$766.6K
Cap Rate 7%
$547,557
$547.6K
Cap Rate 9%
$425,878
$425.9K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$72.4K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$69.7K $44.44/SF
− OpEx
−$31.4K −$20.00/SF
NOI
$38.3K $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%
$766,580
Cap Rate 7%
$547,557
Cap Rate 9%
$425,878
Alternative Uses
Best Use
Apartment 5plus
$547.6K
$479.1K – $638.8K
NOI $38,329 @ 7.0% cap · market cap 7.67%
Second Best
Multifamily LT 5
$370.8K
$324.4K – $432.6K
NOI $25,953 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,916 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Queens, NY
Properties on Market for Duplexes in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit layout accommodates owner occupancy or rental use.
Where is this duplex located?
The property is located at 407 Fairview Ave. Ridgewood Ny Queens, NY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two residential units with a combined 1,568 square feet of living area; Six bedrooms and three bathrooms across the property; Two‑story frame construction; built in 1920
