Maspeth Two-Family Home with
For Sale
$919,000
6062 Flushing Avenue, Maspeth, NY 11378
Legal two-family home with garage, close to transportation and shopping.
Property Size2,024 SF
Price / SF$454.05
Days on Market376
Property Features for 6062 Flushing Avenue
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Duplex
Amenities
Natural Gas
Natural Gas Connected
Building Details
Building Size
2,024 SF
Year Built
1940
Listing Agency:
Keller Williams Legendary
(917) 923-2430
Listed By:
Baldassare LaRussa · License #10401308532
(917) 923-2430
Source:
Kw
Added: Aug 11, 2025
Changed: Aug 16
Last Checked: Aug 20 at 7:15PM
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 Keller Williams Legendary
Investment Insights
Based on property information with market context.
This legal two-family home in Maspeth features a three-bedroom unit over a two-bedroom unit, offering versatility for living or rental income. It is ideally situated close to public transportation, schools, and shopping, providing both convenience and comfort. Highlights include a private garage for off-street parking and a spacious backyard perfect for gatherings and outdoor enjoyment. The water heater and boiler have been replaced within the last five years, and the windows have been updated within the last five years. The property size is 2024 square feet.
Key Highlights
- Legal two‑family home offering versatility for living or rental income.
- Private garage for off‑street parking.
- Spacious backyard perfect for gatherings and outdoor enjoyment.
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
$49,476
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%
$989,520
$989.5K
Cap Rate 7%
$706,800
$706.8K
Cap Rate 9%
$549,733
$549.7K
Market Conditions
NOI Build-Up for 2,024 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
$93.5K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$90.0K $44.44/SF
− OpEx
−$40.5K −$20.00/SF
NOI
$49.5K $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%
$989,520
Cap Rate 7%
$706,800
Cap Rate 9%
$549,733
Alternative Uses
Best Use
Apartment 5plus
$706.8K
$618.5K – $824.6K
NOI $49,476 @ 7.0% cap · market cap 5.38%
Second Best
Multifamily LT 5
$478.6K
$418.8K – $558.3K
NOI $33,500 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,448 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home with garage, close to transportation and shopping.
Where is this duplex located?
The property is located at 6062 Flushing Avenue Maspeth, NY.
What is the asking price?
The asking price for this property is $919,000.
What are key features of this property?
This property features: Legal two‑family home offering versatility for living or rental income.; Private garage for off‑street parking.; Spacious backyard perfect for gatherings and outdoor enjoyment.
