Duplex with Finished Lower
5926 Grove Street, Ridgewood, NY 11385
For Sale
$1,550,000
Two apartments are complemented by a walk-out basement with separate entrances and additional finished rooms.
Property Size3,300 SF
Price / SF$469.70
Days on Market60
Property Features for 5926 Grove Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
private fenced backyard
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Neighborhood Elite Homes LLC
Listed By:
Khairul Arefin
(516) 415-1818
Source:
Serhant
Added: Sep 11
Changed: Nov 8
Last Checked: Oct 28 at 8:12AM
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 Neighborhood Elite Homes LLC
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Investment Insights
Based on property information with market context.
This 1910 duplex contains two apartments with a combined 7 bedrooms and 4 full bathrooms. The finished walk-out lower level adds 5 bonus rooms, a full bathroom, and 2 private entrances. Renovation work included a new roof and windows, along with heating and cooling in every room. The property also has a private fenced backyard.
The home is on Grove Street in Ridgewood, with the M train, shops, and restaurants described as minutes away.
The home is on Grove Street in Ridgewood, with the M train, shops, and restaurants described as minutes away.
Key Highlights
- Two apartments with a combined 7 bedrooms and 4 full bathrooms
- Finished walk‑out lower level with 5 bonus rooms, a full bathroom, and 2 private entrances
- Heating and cooling in every room; new roof and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,546
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,630,920
$1.6M
Cap Rate 7%
$1,164,943
$1.2M
Cap Rate 9%
$906,067
$906.1K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$126.7K $38.40/SF
− Vacancy
−$10.2K −$3.10/SF
EGI
$116.5K $35.30/SF
− OpEx
−$34.9K −$10.59/SF
NOI
$81.5K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,630,920
Cap Rate 7%
$1,164,943
Cap Rate 9%
$906,067
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,546 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,373
Businesses Nearby
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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
$842,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Ridgewood, NY
Properties on Market for Duplexes in Ridgewood
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments are complemented by a walk-out basement with separate entrances and additional finished rooms.
Where is this duplex located?
The property is located at 5926 Grove Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two apartments with a combined 7 bedrooms and 4 full bathrooms; Finished walk‑out lower level with 5 bonus rooms, a full bathroom, and 2 private entrances; Heating and cooling in every room; new roof and windows
