Detached Brick
For Sale
$1,299,000
428 Beach 65th Street, Arverne, NY 11692
Residential Income, Arverne, NY
Property Size2,420 SF
Lot Size0.09 Acres
Price / SF$536.78
Days on Market140
Property Features for 428 Beach 65th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
7
Full bathrooms
7
Rooms
Laundry Room, Bathroom 7, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 5, Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 6
Patio and Porch features
Deck
Interior features
Entrance Foyer
Subdivision
Arverne
Standard status
Active
Size
2,420 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
5409
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
private patio access
in-unit washer/dryer
dishwasher
Building Details
Year built
2005
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
SAINT WALKER REALTY INC
Listed By:
Rudolph Walker
(646) 348-0899
Added: May 3
Changed: Sep 14
Last Checked: Sep 19 at 6:06PM
MLS# 11738606
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 2,420-square-foot detached brick duplex at 428 Beach 65th Street in Arverne includes two three-bedroom residences and a finished basement. The first-floor residence has 3 bedrooms, 2 full baths, a dishwasher, deck access, and separate heat and hot water. The upper residence includes 3 bedrooms, 2 baths, an open kitchen and dining area, a dishwasher, and in-unit laundry. Hardwood and tile flooring, baseboard heat, natural gas service, public water, and an asphalt roof are among the property’s stated features.
The finished basement adds 3 rooms and 3 ensuite bathrooms. Interior stairs provide access between levels, with the option to maintain connected or separate areas. The property occupies 0.0918 acres, was built in 2005, and is being delivered vacant. Far Rockaway beaches, transportation, and shopping are identified in the surrounding area.
The finished basement adds 3 rooms and 3 ensuite bathrooms. Interior stairs provide access between levels, with the option to maintain connected or separate areas. The property occupies 0.0918 acres, was built in 2005, and is being delivered vacant. Far Rockaway beaches, transportation, and shopping are identified in the surrounding area.
Key Highlights
- 2,420‑square‑foot detached brick duplex on a 0.0918‑acre lot
- Two residences, each with 3 bedrooms and 2 baths
- Finished basement with 3 rooms and 3 ensuite bathrooms
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
$59,155
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
4.55%
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%
$1,183,100
$1.2M
Cap Rate 7%
$845,071
$845.1K
Cap Rate 9%
$657,278
$657.3K
Market Conditions
NOI Build-Up for 2,420 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
$111.8K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$107.6K $44.44/SF
− OpEx
−$48.4K −$20.00/SF
NOI
$59.2K $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%
$1,183,100
Cap Rate 7%
$845,071
Cap Rate 9%
$657,278
Alternative Uses
Best Use
Apartment 5plus
$845.1K
$739.4K – $985.9K
NOI $59,155 @ 7.0% cap · market cap 4.55%
Second Best
Multifamily LT 5
$572.2K
$500.7K – $667.6K
NOI $40,055 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,884 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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 - Delivered vacant with hardwood floors, private patio access, and an in-unit washer/dryer.
Where is this duplex located?
The property is located at 428 Beach 65th Street Arverne, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 2,420‑square‑foot detached brick duplex on a 0.0918‑acre lot; Two residences, each with 3 bedrooms and 2 baths; Finished basement with 3 rooms and 3 ensuite bathrooms
