Two-Family Residential Income
407 Fairview Ave. Ridgewood NY Queens, NY 11385
407 Fairview Ave. Ridgewood NY, Queens, NY, 11385
$890,000
For Sale
$890,000
MULTI_FAMILY - Queens, NY
Property Size1,742 SF
Lot Size0.04 Acres
Price / SF$510.91
Days on Market12
Property Features for 407 Fairview Ave. Ridgewood NY
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3
- 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
STE 3H 1825 FOSTER AVE, BROOKLYN, NY
Listed by
Stanley Wilson
(917) 450-8087
Added: Jul 6 Checked: Jul 17 at 10:06 pm
MLS# 11871315
Listing URL
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.
407 Fairview Avenue is a two-family residential property built in 1920. The two-story frame structure includes approximately 6 bedrooms and 3 bathrooms across two residential units, with average overall condition noted in public records, including an average interior and good kitchen condition, as well as average bathroom condition.
The building sits on a 16.5' x 95' lot. It is zoned R6B and classified as a B2 two-family dwelling. Public records indicate the property is owner-occupied and currently occupied.
For buyers seeking a continued owner-occupancy, rental-use, or long-term investment holding, this property offers a straightforward two-family configuration within a well-established Ridgewood section of Queens.
The building sits on a 16.5' x 95' lot. It is zoned R6B and classified as a B2 two-family dwelling. Public records indicate the property is owner-occupied and currently occupied.
For buyers seeking a continued owner-occupancy, rental-use, or long-term investment holding, this property offers a straightforward two-family configuration within a well-established Ridgewood section of Queens.
Key Highlights
- Two‑family home built in 1920 with two residential units
- 6 bedrooms and 3 bathrooms across approximately 1,568 SF of living area
- Natural gas heating and public water source
Local 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 | $80.5k | $46.20 |
| − Vacancy | −$3.1k | −$1.76 |
| EGI | $77.4k | $44.44 |
| − OpEx | −$34.8k | −$20.00 |
| NOI | $42.6k | $24.44 |
1,742 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$608.3K
$532.3K – $709.7K
NOI $42,582 @ 7.0% cap · market cap 4.78%
Second Best
Multifamily LT 5
$411.9K
$360.4K – $480.6K
NOI $28,833 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,896 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Built in 1920, this two-unit property offers 6 bedrooms and 3 bathrooms in an R6B-zoned Queens setting.
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 $890,000.
What are key features of this property?
This property features: Two‑family home built in 1920 with two residential units; 6 bedrooms and 3 bathrooms across approximately 1,568 SF of living area; Natural gas heating and public water source
