Renovated Duplex
For Sale
$1,395,000
Pending
6037 Wetherole Street, Rego Park, NY 11373
Updated two-family layout includes finished lower and top levels, private driveway, modern kitchens, and flexible additional space.
Property Size1,751 SF
Days on Market75
Property Features for 6037 Wetherole Street
General Information
Standard status
Pending
Size
1,751 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,715
Building Details
Building Size
1,751 SF
Year Built
1925
Buildings
1
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Demetrios Droggitis · License #10401317920
(718) 886-6800
Source:
Cbwarburg
Added: Jun 27
Changed: Sep 8
Last Checked: Sep 8 at 12:22PM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1925, this duplex is arranged as a two-family home with updated interiors and multiple finished levels. The residence features open living areas, recessed lighting, hardwood flooring, contemporary kitchens with stainless steel appliances, quartz-style countertops, and custom cabinetry. Finished bathrooms include updated tile and fixtures, while the lower level adds recreational or living space. The completed top floor can accommodate an office, lounge, or additional living area.
The property includes a private driveway and a refreshed exterior. Its Rego Park setting places the home near shopping, restaurants, schools, parks, public transportation, and major roadways. The two-family configuration and finished auxiliary areas provide a flexible residential layout with potential for income-producing use.
The property includes a private driveway and a refreshed exterior. Its Rego Park setting places the home near shopping, restaurants, schools, parks, public transportation, and major roadways. The two-family configuration and finished auxiliary areas provide a flexible residential layout with potential for income-producing use.
Key Highlights
- Two‑family duplex configuration with flexible living arrangements
- Finished lower level adds recreational or additional living space
- Finished top floor suitable for office, lounge, or bonus living area
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
$42,802
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
3.07%
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%
$856,040
$856.0K
Cap Rate 7%
$611,457
$611.5K
Cap Rate 9%
$475,578
$475.6K
Market Conditions
NOI Build-Up for 1,751 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
$80.9K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$77.8K $44.44/SF
− OpEx
−$35.0K −$20.00/SF
NOI
$42.8K $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%
$856,040
Cap Rate 7%
$611,457
Cap Rate 9%
$475,578
Alternative Uses
Best Use
Apartment 5plus
$611.5K
$535.0K – $713.4K
NOI $42,802 @ 7.0% cap · market cap 3.07%
Second Best
Multifamily LT 5
$414.0K
$362.3K – $483.0K
NOI $28,982 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,360 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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?
Duplex - Updated two-family layout includes finished lower and top levels, private driveway, modern kitchens, and flexible additional space.
Where is this duplex located?
The property is located at 6037 Wetherole Street Rego Park, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Two‑family duplex configuration with flexible living arrangements; Finished lower level adds recreational or additional living space; Finished top floor suitable for office, lounge, or bonus living area
