Two-Family Home with Radiant
For Sale
$1,399,000
61 1st Avenue, East Rockaway, NY 11518
Radiant heat, two central air conditioning zones, and a climate-controlled crawl space support year-round comfort.
Property Size4,177 SF
Price / SF$334.93
Days on Market29
Property Features for 61 1st Avenue
General Information
Standard status
Active
Size
4,177 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$16,869
Amenities
garage
pool/gym room
natural gas BBQ pit
Building Details
Building Size
4,177 SF
Year Built
1955
Units
2
Listing Agency:
Signature Premier Properties
Listed By:
Perry Pappas
(516) 766-7900
Source:
Halknopfrealty
Added: Oct 1
Changed: Oct 25
Last Checked: Oct 26 at 4:03AM
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 Signature Premier Properties
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Investment Insights
Based on property information with market context.
This legal two-family home was built in 1955 and has been updated with radiant heating across the bedrooms, bathrooms, living room, kitchen, garage, pool and gym room, and connecting hall. The system is divided into 10 heating zones, with two central air conditioning zones. Spray foam insulation covers approximately 75% of the home, and the crawl space is climate-controlled. The recreation room includes moisture-resistant construction and a sump pump.
Approximately two-thirds of the roof was replaced two years ago; the windows and siding were updated about 7–8 years ago. A water heater was installed four months ago. Additional features include soundproofed walls between the primary and adjacent bedroom, an ADT system with nine hardwired cameras, and outdoor lighting. The property also has a natural gas BBQ pit with dedicated LED lighting.
Approximately two-thirds of the roof was replaced two years ago; the windows and siding were updated about 7–8 years ago. A water heater was installed four months ago. Additional features include soundproofed walls between the primary and adjacent bedroom, an ADT system with nine hardwired cameras, and outdoor lighting. The property also has a natural gas BBQ pit with dedicated LED lighting.
Key Highlights
- Legal two‑family home built in 1955
- Radiant heating with 10 zones and two central air conditioning zones
- Approximately 75% of the home has spray foam insulation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,577
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,540
$1.6M
Cap Rate 7%
$1,136,814
$1.1M
Cap Rate 9%
$884,189
$884.2K
Market Conditions
NOI Build-Up for 4,177 SF
Gross rent
$120.3K $28.80/SF
− Vacancy
−$6.6K −$1.58/SF
EGI
$113.7K $27.22/SF
− OpEx
−$34.1K −$8.16/SF
NOI
$79.6K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,540
Cap Rate 7%
$1,136,814
Cap Rate 9%
$884,189
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$994.7K – $1.33M
NOI $79,577 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$1.06M
$931.3K – $1.24M
NOI $74,507 @ 7.0% cap · market cap 5.33%
Theoretical Best
Specialty Retail
$2.76M
$2.42M – $3.22M
NOI $193,322 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
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Trade Area within ½ mile
866
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Demographics for 11518, NY
10,869
Population
4,235
Households
2.6
Avg Household Size
44
Median Age
44%
College-Educated
92%
High-School Grad
1.4 sq mi
ZIP Area
7,764
Density / Sq Mi
$104,955
Median Household Income
$56,154
Median Earnings
$2,306
Median Rent
$590,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Radiant heat, two central air conditioning zones, and a climate-controlled crawl space support year-round comfort.
Where is this duplex located?
The property is located at 61 1st Avenue East Rockaway, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Legal two‑family home built in 1955; Radiant heating with 10 zones and two central air conditioning zones; Approximately 75% of the home has spray foam insulation
