Detached Two-Family
New
For Sale
$1,349,000
6038 78th Avenue, Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size1,990 SF
Lot Size0.04 Acres
Price / SF$677.89
Days on Market3
Property Features for 6038 78th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Basement, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 2
Parking features
On Street
Interior features
First Floor Bedroom, First Floor Full Bath
Basement
Walk-Out Access, Full, Finished
Elementary school
Ps 68 Cambridge
Middle school
Joseph F Quinn Intermediate School 77
High school
Grover Cleveland High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Standard status
Active
APN
03582-0022
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5995
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
security cameras
Building Details
Year built
1920
Number of units
2
Building materials
Stucco
Architectural style
Colonial
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Liu Hu
(917) 388-0863
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 10 at 5:06AM
MLS# 1060666
Copyright © 2026 OneKey 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 detached two-family home contains approximately 1,990 square feet of living area, two residential units, and a full finished basement with its own entrance. Each unit has a kitchen, full bathroom, boiler, hot water heater, and electrical panel; the property has three full bathrooms overall. Separate gas and electric meters serve the units. The 1920-built Colonial has stucco construction and a reported renovation package that includes new plumbing, an underground sewer line to the street, updated electrical systems, insulation, drywall, roof, and energy-efficient windows. Hardwood floors, zone heating, and four security cameras are also included.
The property occupies a 0.0427-acre lot at 6038 78th Avenue in Ridgewood. Nearby destinations include PS 68 Cambridge Elementary School, Myrtle Avenue, shopping, dining, and public transportation. Bus routes listed nearby are the Q55, Q29, B13, B20, QM24, QM25, and QM34, with subway service in the surrounding area.
The property occupies a 0.0427-acre lot at 6038 78th Avenue in Ridgewood. Nearby destinations include PS 68 Cambridge Elementary School, Myrtle Avenue, shopping, dining, and public transportation. Bus routes listed nearby are the Q55, Q29, B13, B20, QM24, QM25, and QM34, with subway service 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 gas and electric meters; each unit has its own kitchen, full bathroom, boiler, hot water heater, and electrical panel
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 - Both residences have separate utility meters, kitchens, bathrooms, and mechanical systems.
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 gas and electric meters; each unit has its own kitchen, full bathroom, boiler, hot water heater, and electrical panel
