Renovated Two-Family
New
For Sale
$1,349,000
6038 78th Avenue, Ridgewood, NY 11385
Two independent residences each have their own kitchen, bathroom, boiler, hot water heater, and electrical panel.
Property Size1,990 SF
Price / SF$677.89
Days on Market3
Property Features for 6038 78th Avenue
General Information
Standard status
Active
Size
1,990 SF
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,995
Building Details
Building Size
1,990 SF
Year Built
1920
Buildings
1
Listing Agency:
B Square Realty
Listed By:
Liu Hu
(917) 388-0863
Source:
Serhant
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 10 at 2:56AM
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 B Square Realty
Investment Insights
Based on property information with market context.
This detached duplex contains two separate residential units and approximately 1,990 square feet of living space, plus a full finished basement with its own entrance. Each residence has a kitchen, full bathroom, boiler, hot water heater, and electrical panel. Three full bathrooms serve the property overall, and separate electric and gas meters support independent utility billing. Improvements include hardwood flooring, updated plumbing and electrical systems, new insulation and drywall, a new roof, and energy-efficient windows. Zone heating and four security cameras are also included.
The home is in Ridgewood near PS 68 Cambridge Elementary School, Myrtle Avenue, shopping, dining, and public transportation. Nearby bus service includes the Q55, Q29, B13, B20, QM24, QM25, and QM34; subway service is available in the surrounding area.
The home is in Ridgewood near PS 68 Cambridge Elementary School, Myrtle Avenue, shopping, dining, and public transportation. Nearby bus service includes the Q55, Q29, B13, B20, QM24, QM25, and QM34; subway service is available in the surrounding area.
Key Highlights
- Detached two‑family property with approximately 1,990 square feet of living space
- Full finished basement with a separate entrance
- Separate electric and gas meters, plus an individual electrical panel for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,644
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$972,880
$972.9K
Cap Rate 7%
$694,914
$694.9K
Cap Rate 9%
$540,489
$540.5K
Market Conditions
NOI Build-Up for 1,990 SF
Gross rent
$91.9K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.4K $44.44/SF
− OpEx
−$39.8K −$20.00/SF
NOI
$48.6K $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 Rate 5%
$972,880
Cap Rate 7%
$694,914
Cap Rate 9%
$540,489
Alternative Uses
Best Use
Apartment 5plus
$694.9K
$608.1K – $810.7K
NOI $48,644 @ 7.0% cap · market cap 3.61%
Second Best
Multifamily LT 5
$470.5K
$411.7K – $549.0K
NOI $32,938 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,694 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,912
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 - Two independent residences each have their own kitchen, bathroom, boiler, hot water heater, and electrical panel.
Where is this duplex located?
The property is located at 6038 78th Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Detached two‑family property with approximately 1,990 square feet of living space; Full finished basement with a separate entrance; Separate electric and gas meters, plus an individual electrical panel for each unit
