Brick Two-Family
New
For Sale
$1,398,000
5962 61st Street, Maspeth, NY 11378
Semi-detached brick duplex with two three-bedroom residences, a finished-use basement, separate utilities, and a detached garage.
Property Size2,160 SF
Lot Size0.05 Acres
Price / SF$647.22
Days on Market3
Property Features for 5962 61st Street
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Duplex
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,031
Building Details
Building Size
2,160 SF
Year Built
1940
Buildings
1
Construction
brick
Listing Agency:
New Group Realty Inc
Listed By:
Xun Lin
(347) 387-9337
Source:
Cbwarburg
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 6 at 2:58PM
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 New Group Realty Inc
Investment Insights
Based on property information with market context.
This 2,160-square-foot semi-detached brick duplex, built in 1940, contains two residential units with matching layouts. Each apartment includes three bedrooms, a living room, formal dining space, and an eat-in kitchen. The property occupies a 22' x 103' lot with an 18' x 60' building footprint. A high-ceiling full basement provides an outside separate entrance and includes split heating and cooling units.
A detached two-car garage at the rear adds parking and storage capacity. Separate gas and electric meters allow each residence to maintain its own utility account. The property is located near Grand Avenue's commercial corridor, restaurants, supermarkets, schools, and multiple bus routes, including the Q58, Q39, and Q59. The Q39 provides access to the M subway station, while the Q59 connects toward Queens Center Mall.
A detached two-car garage at the rear adds parking and storage capacity. Separate gas and electric meters allow each residence to maintain its own utility account. The property is located near Grand Avenue's commercial corridor, restaurants, supermarkets, schools, and multiple bus routes, including the Q58, Q39, and Q59. The Q39 provides access to the M subway station, while the Q59 connects toward Queens Center Mall.
Key Highlights
- Two residential units, each with 3 bedrooms, living room, formal dining area, and eat‑in kitchen
- 2,160 square feet on a 22' x 103' lot
- 18' x 60' building footprint with a full high‑ceiling basement
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
$52,800
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
3.78%
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%
$1,056,000
$1.1M
Cap Rate 7%
$754,286
$754.3K
Cap Rate 9%
$586,667
$586.7K
Market Conditions
NOI Build-Up for 2,160 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
$99.8K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$96.0K $44.44/SF
− OpEx
−$43.2K −$20.00/SF
NOI
$52.8K $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%
$1,056,000
Cap Rate 7%
$754,286
Cap Rate 9%
$586,667
Alternative Uses
Best Use
Apartment 5plus
$754.3K
$660.0K – $880.0K
NOI $52,800 @ 7.0% cap · market cap 3.78%
Second Best
Multifamily LT 5
$510.7K
$446.9K – $595.9K
NOI $35,751 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,466 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,230
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 - Semi-detached brick duplex with two three-bedroom residences, a finished-use basement, separate utilities, and a detached garage.
Where is this duplex located?
The property is located at 5962 61st Street Maspeth, NY.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms, living room, formal dining area, and eat‑in kitchen; 2,160 square feet on a 22' x 103' lot; 18' x 60' building footprint with a full high‑ceiling basement
