Brick Three-Family
New
For Sale
$1,580,000
61-40 219th Street, Bayside, NY 11364
Residential Income, Bayside, NY
Property Size3,088 SF
Lot Size0.06 Acres
Price / SF$511.66
Days on Market1
Property Features for 61-40 219th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 4, Basement, Bathroom 1
Parking features
Garage, Driveway
Interior features
First Floor Bedroom
Fencing
Chain Link
Basement
Partially Finished, Walk-Out Access
Lot features
Back Yard, Near Public Transit, Near School, Near Shops
Elementary school
Ps 46 Alley Pond
Middle school
Jhs 74 Nathaniel Hawthorne
High school
Benjamin N Cardozo High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Standard status
Active
APN
07608-0025
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12860
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
backyard
balcony
basement
Building Details
Year built
1964
Number of units
3
Building materials
Brick
Architectural style
Colonial
Listing Agency:
RE/MAX 1st Choice · RE/MAX International
(516) 888-6000
Listed By:
Po Wei Tair · License #7.51E+13
(917) 406-6026
Added: Aug 31
Last Checked: Aug 31 at 11:06PM
MLS# 1044990
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 legal brick triplex at 61-40 219th Street contains 3,088 square feet and was built in 1964. The layout includes a one-bedroom, one-bath first-floor unit and two upper-floor residences, each with three bedrooms, a full bath, living room, formal dining room, and kitchen. A partially finished walk-out basement has its own entrance. Three gas meters, three electric meters, and three heating units support separate utility arrangements. The property also features a private driveway, attached one-car garage, backyard, balcony, chain-link fencing, public water, and public sewer.
The home occupies a 24.83x100 lot in Bayside, Queens, within Queens School District 26. Springfield Boulevard shopping and services, Alley Pond Park, the Long Island Expressway, and Union Turnpike bus service are nearby. Natural gas heating and wall/window cooling units are installed throughout the property.
The home occupies a 24.83x100 lot in Bayside, Queens, within Queens School District 26. Springfield Boulevard shopping and services, Alley Pond Park, the Long Island Expressway, and Union Turnpike bus service are nearby. Natural gas heating and wall/window cooling units are installed throughout the property.
Key Highlights
- Legal three‑family brick property with 3,088 square feet
- Three units: one 1‑bedroom residence and two 3‑bedroom residences
- Partially finished walk‑out basement with separate entrance
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
$75,484
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
4.78%
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%
$1,509,680
$1.5M
Cap Rate 7%
$1,078,343
$1.1M
Cap Rate 9%
$838,711
$838.7K
Market Conditions
NOI Build-Up for 3,088 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
$142.7K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$137.2K $44.44/SF
− OpEx
−$61.8K −$20.00/SF
NOI
$75.5K $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%
$1,509,680
Cap Rate 7%
$1,078,343
Cap Rate 9%
$838,711
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$943.6K – $1.26M
NOI $75,484 @ 7.0% cap · market cap 4.78%
Second Best
Multifamily LT 5
$730.2K
$638.9K – $851.9K
NOI $51,111 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,356 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 11364, NY
37,032
Population
14,527
Households
2.5
Avg Household Size
45
Median Age
49%
College-Educated
86%
High-School Grad
2.5 sq mi
ZIP Area
14,813
Density / Sq Mi
$101,222
Median Household Income
$55,295
Median Earnings
$2,330
Median Rent
$770,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legal three-unit residence with separate utility meters, private parking, basement space, and a backyard.
Where is this triplex located?
The property is located at 61-40 219th Street Bayside, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Legal three‑family brick property with 3,088 square feet; Three units: one 1‑bedroom residence and two 3‑bedroom residences; Partially finished walk‑out basement with separate entrance
