Brick Duplex with Private
New
For Sale
$1,500,000
6005 Catalpa Avenue, Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size2,560 SF
Lot Size0.04 Acres
Price / SF$585.94
Days on Market2
Property Features for 6005 Catalpa Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Parking features
Driveway
Patio and Porch features
Patio
Subdivision
Flushing
Standard status
Active
Size
2,560 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4482
Amenities
in-unit washer/dryer
private backyard
paved patio area
Building Details
Year built
1940
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(815) 252-4110
Added: Sep 17
Last Checked: Sep 18 at 1:06PM
MLS# 11985515
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This semi-detached brick duplex contains approximately 2,560 SF across a lower two-bedroom, two-bathroom duplex and a third-floor two-bedroom, one-bathroom unit. The lower residence includes two kitchens, separate living areas, an in-unit washer/dryer, and direct access to the backyard and built-in garage. The upper unit offers a spacious living room and dining room, while hardwood flooring and abundant natural light extend through the property.
The property occupies a 20' x 90' lot at 6005 Catalpa Avenue in Ridgewood, Queens. Parking accommodates up to 3 vehicles, with a private driveway for 2 vehicles and an approximately 200 SF built-in garage for 1 additional vehicle. Outdoor improvements include a landscaped backyard and paved patio area. The property is zoned R5B and was built in 1940.
The property occupies a 20' x 90' lot at 6005 Catalpa Avenue in Ridgewood, Queens. Parking accommodates up to 3 vehicles, with a private driveway for 2 vehicles and an approximately 200 SF built-in garage for 1 additional vehicle. Outdoor improvements include a landscaped backyard and paved patio area. The property is zoned R5B and was built in 1940.
Key Highlights
- Two residences totaling approximately 2,560 SF
- Lower duplex with 2 bedrooms, 2 bathrooms, two kitchens, and two living areas
- Third‑floor unit offers 2 bedrooms, 1 bathroom, living room, and dining room
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
$62,578
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
4.17%
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%
$1,251,560
$1.3M
Cap Rate 7%
$893,971
$894.0K
Cap Rate 9%
$695,311
$695.3K
Market Conditions
NOI Build-Up for 2,560 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
$118.3K $46.20/SF
− Vacancy
−$4.5K −$1.76/SF
EGI
$113.8K $44.44/SF
− OpEx
−$51.2K −$20.00/SF
NOI
$62.6K $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%
$1,251,560
Cap Rate 7%
$893,971
Cap Rate 9%
$695,311
Alternative Uses
Best Use
Apartment 5plus
$894.0K
$782.2K – $1.04M
NOI $62,578 @ 7.0% cap · market cap 4.17%
Second Best
Multifamily LT 5
$605.3K
$529.7K – $706.2K
NOI $42,372 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,108 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,162
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Semi-detached income property with multiple living areas, two kitchens, private outdoor space, and dedicated off-street parking.
Where is this duplex located?
The property is located at 6005 Catalpa Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two residences totaling approximately 2,560 SF; Lower duplex with 2 bedrooms, 2 bathrooms, two kitchens, and two living areas; Third‑floor unit offers 2 bedrooms, 1 bathroom, living room, and dining room
