Multifamily Property with Detached
For Sale
$899,000
6 Forest Avenue, Valley Stream, NY 11581
Finished attic and full basement add substantial space to the building’s two-and-a-half-floor layout.
Property Size1,772 SF
Lot Size0.14 Acres
Days on Market24
Property Features for 6 Forest Avenue
General Information
Standard status
Active
Size
1,772 SF
Total Parking Spaces
4
Lot size
0.14 Acres
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,612
Amenities
garden
BBQ area
Building Details
Building Size
1,772 SF
Year Built
1931
Buildings
2
Units
2
Listing Agency:
Keller Williams Landmark II
(347) 564-4832
Listed By:
Adam W. Krzesniak CBR
(347) 564-4832
Source:
Alexandermadisonhomes
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
This multifamily property, built in 1931, occupies a 50 x 125 lot and includes a detached oversized garage with a private driveway. The main building spans two and a half floors, with a fully finished attic and full basement. Interior accommodations include 5 bedrooms and 3.5 bathrooms, while the grounds feature a garden area and space for outdoor gatherings. Two separate heating systems serve the property.
Valley Stream LIRR Station is approximately 0.3 miles away, with an estimated 10–12 minute walk or 2–3 minute drive. The station provides service to Penn Station, Grand Central Madison, and Atlantic Terminal via Jamaica. Local highways are also nearby, adding regional transportation access to the property’s residential setting.
Valley Stream LIRR Station is approximately 0.3 miles away, with an estimated 10–12 minute walk or 2–3 minute drive. The station provides service to Penn Station, Grand Central Madison, and Atlantic Terminal via Jamaica. Local highways are also nearby, adding regional transportation access to the property’s residential setting.
Key Highlights
- 50 x 125 lot with detached oversized garage
- Two‑and‑a‑half‑floor building with fully finished attic and full basement
- 5 bedrooms and 3.5 bathrooms
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
$31,608
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
3.52%
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%
$632,160
$632.2K
Cap Rate 7%
$451,543
$451.5K
Cap Rate 9%
$351,200
$351.2K
Market Conditions
NOI Build-Up for 1,772 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
$60.2K $33.96/SF
− Vacancy
−$2.7K −$1.53/SF
EGI
$57.5K $32.43/SF
− OpEx
−$25.9K −$14.59/SF
NOI
$31.6K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /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%
$632,160
Cap Rate 7%
$451,543
Cap Rate 9%
$351,200
Alternative Uses
Best Use
Apartment 5plus
$451.5K
$395.1K – $526.8K
NOI $31,608 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,013 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 11581, NY
23,183
Population
7,423
Households
3.1
Avg Household Size
39
Median Age
48%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
8,586
Density / Sq Mi
$138,821
Median Household Income
$61,079
Median Earnings
$2,198
Median Rent
$652,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Finished attic and full basement add substantial space to the building’s two-and-a-half-floor layout.
Where is this multifamily property located?
The property is located at 6 Forest Avenue Valley Stream, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 50 x 125 lot with detached oversized garage; Two‑and‑a‑half‑floor building with fully finished attic and full basement; 5 bedrooms and 3.5 bathrooms
