Duplex with Detached
For Sale
$999,000
6117 165th Street, Fresh Meadows, NY 11365
Four-bedroom duplex with a full basement, outdoor space, and convenient access to major roads, parks, and bus service.
Property Size1,296 SF
Days on Market14
Property Features for 6117 165th Street
General Information
Standard status
Active
Size
1,296 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,699
Building Details
Building Size
1,296 SF
Year Built
1920
Listing Agency:
Coldwell Banker American Homes
(929) 204-6042
Listed By:
Zaina Mainali
Source:
Barbieliteam
Added: Aug 10
Changed: Aug 23
Last Checked: Aug 23 at 8:48AM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
This duplex, built in 1920, includes four bedrooms, generously sized rooms, bright living areas, and dedicated dining spaces. A full basement expands the usable interior with room for laundry, storage, recreation, or future improvements. The property also includes outdoor space and a detached two-car garage that provides parking and additional storage.
Located at 6117 165th Street in Fresh Meadows, the property offers access to the Long Island Expressway and the Q17, Q65, Q74, and Q88 bus lines. Kissena Park and Cunningham Park are nearby, adding access to green space and recreational areas. The combination of substantial interior space, a full basement, detached garage, and transit connectivity supports a range of residential occupancy and improvement plans.
Located at 6117 165th Street in Fresh Meadows, the property offers access to the Long Island Expressway and the Q17, Q65, Q74, and Q88 bus lines. Kissena Park and Cunningham Park are nearby, adding access to green space and recreational areas. The combination of substantial interior space, a full basement, detached garage, and transit connectivity supports a range of residential occupancy and improvement plans.
Key Highlights
- Four‑bedroom duplex built in 1920
- Detached two‑car garage with parking and additional storage
- Full basement with laundry, storage, recreation, and improvement potential
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
$31,680
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
3.17%
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%
$633,600
$633.6K
Cap Rate 7%
$452,571
$452.6K
Cap Rate 9%
$352,000
$352.0K
Market Conditions
NOI Build-Up for 1,296 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
$59.9K $46.20/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$57.6K $44.44/SF
− OpEx
−$25.9K −$20.00/SF
NOI
$31.7K $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%
$633,600
Cap Rate 7%
$452,571
Cap Rate 9%
$352,000
Alternative Uses
Best Use
Apartment 5plus
$452.6K
$396.0K – $528.0K
NOI $31,680 @ 7.0% cap · market cap 3.17%
Second Best
Multifamily LT 5
$306.4K
$268.1K – $357.5K
NOI $21,451 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$955.4K
$836.0K – $1.11M
NOI $66,880 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 11365, NY
46,908
Population
16,626
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
2.5 sq mi
ZIP Area
18,763
Density / Sq Mi
$85,375
Median Household Income
$51,458
Median Earnings
$1,869
Median Rent
$911,800
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?
Duplex - Four-bedroom duplex with a full basement, outdoor space, and convenient access to major roads, parks, and bus service.
Where is this duplex located?
The property is located at 6117 165th Street Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Four‑bedroom duplex built in 1920; Detached two‑car garage with parking and additional storage; Full basement with laundry, storage, recreation, and improvement potential
