Landmarked Two-Family Brick
For Sale
$1,500,000
6016 68th Road, Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size3,300 SF
Lot Size0.06 Acres
Price / SF$454.55
Days on Market145
Property Features for 6016 68th Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Subdivision
Flushing
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9214
Building Details
Year built
1909
Floors in Building
2
Building materials
Brick
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(815) 252-4110
Added: Apr 22
Changed: Sep 13
Last Checked: Sep 13 at 1:06AM
MLS# 11716630
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 two-family brick townhouse was built in 1909 and retains original brick, stone, and iron detailing associated with its Renaissance Revival design. The fully vacant property includes separate entrances for each unit, high ceilings, a skylight, a full basement with mechanical systems and storage, and a rear accessory structure or garage. A private driveway with curb cut provides access to the back of the lot.
Located within the Ridgewood historic district, the property is subject to NYC Landmarks Preservation Commission guidelines. The R5B-zoned parcel includes backyard space and a deep lot, with approximately 3,300+ SF of building area on an approximately 2,400 SF lot. The historic facade and preserved interior elements provide a defined architectural framework for an owner-user or repositioning plan.
Located within the Ridgewood historic district, the property is subject to NYC Landmarks Preservation Commission guidelines. The R5B-zoned parcel includes backyard space and a deep lot, with approximately 3,300+ SF of building area on an approximately 2,400 SF lot. The historic facade and preserved interior elements provide a defined architectural framework for an owner-user or repositioning plan.
Key Highlights
- Two‑family brick townhouse built in 1909
- Approximately 3,300+ SF built on an approximately 2,400 SF lot
- R5B zoning within the Ridgewood historic district
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
$80,667
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
5.38%
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%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 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
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $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%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 5.38%
Second Best
Multifamily LT 5
$780.3K
$682.8K – $910.3K
NOI $54,620 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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
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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 - Vacant two-family property with separate entrances, rear garage, and basement storage.
Where is this duplex located?
The property is located at 6016 68th Road 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‑family brick townhouse built in 1909; Approximately 3,300+ SF built on an approximately 2,400 SF lot; R5B zoning within the Ridgewood historic district
