Two-Family Duplex with Two
For Sale
$500,000
Pending
407 Fairview Ave. Ridgewood NY, Queens, NY 11385
Residential Income, Queens, NY
Property Size1,742 SF
Lot Size0.04 Acres
Days on Market105
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 2, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 6
Subdivision
Ridgewood
Standard status
Pending
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
Listed By:
Stanley Wilson
(917) 450-8087
Added: Jul 6
Changed: Oct 1
Last Checked: Oct 18 at 2:06PM
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.
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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 / Yr
$42,582
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
