Duplex with Finished Lower
5926 Grove Street, Ridgewood, NY 11385
For Sale
$1,539,000
Two apartments provide a 3-bedroom and a 4-bedroom layout, with a fenced backyard and updated building systems.
Property Size3,300 SF
Price / SF$466.36
Days on Market65
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 12
Last Checked: Nov 12 at 2:25PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Ridgewood duplex contains two apartments totaling 7 bedrooms and 5 full bathrooms across approximately 3,300 square feet. The first-floor apartment has 3 bedrooms and 2 bathrooms; the second-floor unit has 4 bedrooms and 2 bathrooms. A finished lower level adds five rooms, a full bathroom, and two separate exterior entrances, with use subject to applicable permissions. Updates include the roof, windows, kitchens, flooring, stainless steel appliances, and heating and cooling in every room. The property also has a private fenced backyard.
Located on Grove Street, the property offers access to the M train, shopping, and restaurants. Built in 1910, the two-apartment configuration may suit an owner-occupant or an investor, with the second unit offering potential rental income.
Located on Grove Street, the property offers access to the M train, shopping, and restaurants. Built in 1910, the two-apartment configuration may suit an owner-occupant or an investor, with the second unit offering potential rental income.
Key Highlights
- Two apartments with 7 bedrooms and 5 full bathrooms
- Approximately 3,300 square feet
- Finished lower level with five rooms, a full bathroom, and two separate exterior entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,546
Cap Rate
5.30%
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 5.30%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,373
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
$842,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 provide a 3-bedroom and a 4-bedroom layout, with a fenced backyard and updated building systems.
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 $1,539,000.
What are key features of this property?
This property features: Two apartments with 7 bedrooms and 5 full bathrooms; Approximately 3,300 square feet; Finished lower level with five rooms, a full bathroom, and two separate exterior entrances
