Two-Unit Brick
For Sale
$1,350,000
5962 61st Street, Maspeth, NY 11378
Both residences include three bedrooms, a formal dining room and an eat-in kitchen.
Property Size2,160 SF
Lot Size0.05 Acres
Price / SF$625
Days on Market52
Property Features for 5962 61st Street
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
3
Lot size
0.05 Acres
Property subtype
Residential Income
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Individually Metered Utilities
gas, electric
Taxes and HOA fees
Annual Taxes
$11,031
Amenities
First Floor Full Bath
Eat-in Kitchen
Formal Dining
High Ceilings
Other
Building Details
Building Size
2,160 SF
Year Built
1940
Buildings
1
Stories
2
Units
2
Construction
brick
Listing Agency:
New Group Realty Inc
(718) 255-9100
Listed By:
Xun Lin
(347) 387-9337
Source:
Halknopfrealty
Added: Sep 4
Changed: Oct 24
Last Checked: Oct 24 at 3:01PM
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
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Investment Insights
Based on property information with market context.
This brick, semi-detached duplex was built in 1940 on a 22' x 103' lot, with an 18' x 60' building footprint. Each of its two residences has three bedrooms, a living room, a formal dining area and an eat-in kitchen. A full basement has a separate exterior entrance and split heating and cooling units. A detached two-car garage provides additional parking and storage, and the property has separate gas and electric meters.
Grand Avenue’s shops, restaurants and supermarkets are nearby, along with schools. Transit options include the Q58 to Flushing, the Q39 to the M subway station and the Q59 to Queens Center Mall. The property is suitable for owner occupancy with rental income or as a two-family investment property.
Grand Avenue’s shops, restaurants and supermarkets are nearby, along with schools. Transit options include the Q58 to Flushing, the Q39 to the M subway station and the Q59 to Queens Center Mall. The property is suitable for owner occupancy with rental income or as a two-family investment property.
Key Highlights
- Two residences, each with three bedrooms
- 22' x 103' lot with an 18' x 60' building footprint
- Full basement with separate exterior entrance and split heating/cooling units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,800
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
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
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 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 3.91%
Second Best
Multifamily LT 5
$510.7K
$446.9K – $595.9K
NOI $35,751 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,466 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include three bedrooms, a formal dining room and an eat-in kitchen.
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 $1,350,000.
What are key features of this property?
This property features: Two residences, each with three bedrooms; 22' x 103' lot with an 18' x 60' building footprint; Full basement with separate exterior entrance and split heating/cooling units
