Detached Two-Family
For Sale
$929,000
54 71st St, Maspeth, NY 11378
Vacant legal two-family home includes a finished attic and full basement.
Property Size2,541 SF
Price / SF$365.60
Days on Market43
Property Features for 54 71st St
General Information
Standard status
Active
Size
2,541 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,408
Building Details
Buildings
1
Listing Agency:
O Kane Realty
(917) 859-9362
Listed By:
John O Kane
(917) 859-9362
Source:
Exprealty
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 4 at 6:44AM
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 O Kane Realty
Investment Insights
Based on property information with market context.
This detached legal two-family home contains 2,541 square feet across two residential levels, with a five-room, two-bedroom first-floor layout and a six-room, three-bedroom second floor. The upper level also includes a finished stand-up attic. A full basement with separate front and rear entrances adds additional interior space and flexibility for future redesign. The property will be delivered vacant.
Located just off Grand Ave in Maspeth, the home is near dining, shopping, and transportation options. PS 58, IS 73, and Maspeth High School are each within a few blocks. The property measures 21 x 46 and includes a fully detached structure suited to its legal two-family configuration.
Located just off Grand Ave in Maspeth, the home is near dining, shopping, and transportation options. PS 58, IS 73, and Maspeth High School are each within a few blocks. The property measures 21 x 46 and includes a fully detached structure suited to its legal two-family configuration.
Key Highlights
- Detached legal two‑family home delivered vacant
- 2,541 square feet on a 21 x 46 property
- First floor: five rooms and two bedrooms
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 | $117.4k | $46.20 |
| − Vacancy | −$4.5k | −$1.76 |
| EGI | $112.9k | $44.44 |
| − OpEx | −$50.8k | −$20.00 |
| NOI | $62.1k | $24.44 |
2,541 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$887.3K
$776.4K – $1.04M
NOI $62,113 @ 7.0% cap · market cap 6.69%
Second Best
Multifamily LT 5
$600.8K
$525.7K – $701.0K
NOI $42,058 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,128 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant legal two-family home includes a finished attic and full basement.
Where is this duplex located?
The property is located at 54 71st St Maspeth, NY.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Detached legal two‑family home delivered vacant; 2,541 square feet on a 21 x 46 property; First floor: five rooms and two bedrooms
