Two-Family Duplex with Separate
New
For Sale
$699,000
577 Aztec Place, Far Rockaway, NY 11691
Each residence has its own utility meters, heating system, and hot water heater.
Property Size1,814 SF
Price / SF$385.34
Days on Market4
Property Features for 577 Aztec Place
General Information
Standard status
Active
Size
1,814 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Multifamily Units
2
Individually Metered Utilities
electricity, gas
Taxes and HOA fees
Annual Taxes
$6,050
Amenities
First Floor Bedroom
Building Details
Building Size
1,814 SF
Year Built
2007
Units
2
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Meiling Dong
(718) 690-8339
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 4:02AM
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 Century Homes Realty Group LLC
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Investment Insights
Based on property information with market context.
This legal two-family duplex at 577 Aztec Place in Far Rockaway contains 1,814 square feet and was built in 2007. The property is configured with separate electric and gas meters, heating systems, and hot water heaters for the two residences.
Beach 25th Street station, served by the A train, is nearby. Rockaway Freeway, local retail and dining, a playground, and the Rockaway beaches are also in the surrounding area.
Beach 25th Street station, served by the A train, is nearby. Rockaway Freeway, local retail and dining, a playground, and the Rockaway beaches are also in the surrounding area.
Key Highlights
- Legal two‑family configuration
- 1,814 square feet; built in 2007
- Two electric meters and two gas meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,342
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$886,840
$886.8K
Cap Rate 7%
$633,457
$633.5K
Cap Rate 9%
$492,689
$492.7K
Market Conditions
NOI Build-Up for 1,814 SF
Gross rent
$83.8K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.6K $44.44/SF
− OpEx
−$36.3K −$20.00/SF
NOI
$44.3K $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%
$886,840
Cap Rate 7%
$633,457
Cap Rate 9%
$492,689
Alternative Uses
Best Use
Apartment 5plus
$633.5K
$554.3K – $739.0K
NOI $44,342 @ 7.0% cap · market cap 6.34%
Second Best
Multifamily LT 5
$428.9K
$375.3K – $500.4K
NOI $30,025 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,611 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,763
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
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 - Each residence has its own utility meters, heating system, and hot water heater.
Where is this duplex located?
The property is located at 577 Aztec Place Far Rockaway, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Legal two‑family configuration; 1,814 square feet; built in 2007; Two electric meters and two gas meters
