Two-Family Duplex with Two
For Sale
$500,000
407 Fairview Ave. Ridgewood NY, Queens, NY 11385
Residential Income, Queens, NY
Property Size1,742 SF
Lot Size0.04 Acres
Price / SF$287.03
Days on Market58
Property Features for 407 Fairview Ave. Ridgewood NY
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1
Subdivision
Ridgewood
Standard status
Active
Size
1,742 SF
Lot size
0.04 Acres
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Listing Agency:
WILSON STANLEY E
(917) 450-8087
Listed By:
Stanley Wilson
(917) 450-8087
Added: Jul 6
Changed: Aug 30
Last Checked: Sep 1 at 12:06PM
MLS# 11871315
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 two-family duplex at 407 Fairview Avenue is a two-story frame property built in 1920. The building contains two residential units with a total of 6 bedrooms and 3 bathrooms. Interior condition is reported as average overall, with a good kitchen condition and average bathroom condition. Heating is provided by natural gas, and the property uses a public water source.
The property is located in Ridgewood, Queens, NY 11385, and is zoned R6B with a B2 two-family dwelling classification. Public records identify the property as occupied and owner-occupied, with no reported HOA or COA. The existing layout and two-family classification support continued residential use in its current form.
The property is located in Ridgewood, Queens, NY 11385, and is zoned R6B with a B2 two-family dwelling classification. Public records identify the property as occupied and owner-occupied, with no reported HOA or COA. The existing layout and two-family classification support continued residential use in its current form.
Key Highlights
- Two residential units with 6 bedrooms and 3 bathrooms
- Two‑story frame structure built in 1920
- R6B zoning with B2 two‑family dwelling classification
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
$42,582
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
8.52%
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%
$851,640
$851.6K
Cap Rate 7%
$608,314
$608.3K
Cap Rate 9%
$473,133
$473.1K
Market Conditions
NOI Build-Up for 1,742 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
$80.5K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$77.4K $44.44/SF
− OpEx
−$34.8K −$20.00/SF
NOI
$42.6K $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%
$851,640
Cap Rate 7%
$608,314
Cap Rate 9%
$473,133
Alternative Uses
Best Use
Apartment 5plus
$608.3K
$532.3K – $709.7K
NOI $42,582 @ 7.0% cap · market cap 8.52%
Second Best
Multifamily LT 5
$411.9K
$360.4K – $480.6K
NOI $28,833 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,896 @ 7.0% cap · market cap 17.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,225
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a flexible two-family configuration in an established Queens neighborhood.
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 6 bedrooms and 3 bathrooms; Two‑story frame structure built in 1920; R6B zoning with B2 two‑family dwelling classification
