Detached Brick
61-38 Grand Avenue, Maspeth, NY 11378
For Sale
New
$995,000
Two apartments each offer three bedrooms, with a finished basement providing additional interior space.
Property Size2,180 SF
Price / SF$456.42
Days on Market5
Property Features for 61-38 Grand Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
finished basement
private yard
skylight
Finished,Full
Wood
3
No
Yes
6
First Floor Bedroom,First Floor Full Bath
Finished, Full
Fenced
Public
Concrete Perimeter
2180
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
O Kane Realty
(516) 788-8382
Listed By:
Mohit Kalia
Source:
Sunluxrealty
Added: Nov 10
Changed: Nov 13
Last Checked: Nov 13 at 3:09AM
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 O Kane Realty
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Investment Insights
Based on property information with market context.
This detached brick duplex contains two apartments, each with three bedrooms. The first-floor unit has two bathrooms, a living room, a separate dining room, and an eat-in kitchen. Upstairs, the second apartment includes a living room and an eat-in kitchen. A finished basement adds further space, and a skylight brings natural light to the second-floor hallway. The property also has a small fenced yard.
The building measures 20' x 51' and contains 2,180 square feet. Built in 1920, it has a heater and hot water system reported as six years old.
The building measures 20' x 51' and contains 2,180 square feet. Built in 1920, it has a heater and hot water system reported as six years old.
Key Highlights
- Detached brick two‑family building with 2,180 square feet
- Each apartment has 3 bedrooms; the first‑floor unit includes 2 bathrooms
- Finished basement and small fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,870
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,077,400
$1.1M
Cap Rate 7%
$769,571
$769.6K
Cap Rate 9%
$598,556
$598.6K
Market Conditions
NOI Build-Up for 2,180 SF
Gross rent
$83.7K $38.40/SF
− Vacancy
−$6.8K −$3.10/SF
EGI
$77.0K $35.30/SF
− OpEx
−$23.1K −$10.59/SF
NOI
$53.9K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,077,400
Cap Rate 7%
$769,571
Cap Rate 9%
$598,556
Alternative Uses
Best Use
Multifamily LT 5
$769.6K
$673.4K – $897.8K
NOI $53,870 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$761.3K
$666.1K – $888.2K
NOI $53,289 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.61M
$1.41M – $1.87M
NOI $112,498 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,966
Businesses Nearby
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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
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Market
Properties on Market for Duplexes in Maspeth
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments each offer three bedrooms, with a finished basement providing additional interior space.
Where is this duplex located?
The property is located at 61-38 Grand Avenue Maspeth, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Detached brick two‑family building with 2,180 square feet; Each apartment has 3 bedrooms; the first‑floor unit includes 2 bathrooms; Finished basement and small fenced yard
