Duplex With Walk-Out Finished
For Sale
$1,299,998
Pending
616 College Place, College Point, NY 11356
Two-family duplex with three full baths, a full walk-out finished basement, and an oversized 2-car garage.
Property Size1,920 SF
Days on Market127
Property Features for 616 College Place
General Information
Standard status
Pending
Size
1,920 SF
Total Parking Spaces
2
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$8,392
Building Details
Building Size
1,920 SF
Year Built
1930
Buildings
2
Tenancy
Multi
Listing Agency:
Suydam Agency Inc
Listed By:
Anthony Skoros · License #31SK1151456
(917) 364-4922
Source:
Serhant
Added: Jun 25
Changed: Oct 28
Last Checked: Oct 28 at 4:28PM
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 Suydam Agency Inc
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Investment Insights
Based on property information with market context.
This two-family duplex is set up with comfort and flexibility, featuring three full baths across the home. A full walk-out finished basement includes a full bath and a family room, offering additional usable space for day-to-day living.
The home is described as very well maintained, with a new roof on the home and garage installed about three years ago. Vinyl siding is in place, and concrete has been replaced. An attic with high ceilings and pull-down stairs adds additional storage options.
For parking and convenience, the property includes a private driveway and an oversized two-car garage. Built in 1930, the layout combines traditional residential character with functional, finished lower-level space.
The home is described as very well maintained, with a new roof on the home and garage installed about three years ago. Vinyl siding is in place, and concrete has been replaced. An attic with high ceilings and pull-down stairs adds additional storage options.
For parking and convenience, the property includes a private driveway and an oversized two-car garage. Built in 1930, the layout combines traditional residential character with functional, finished lower-level space.
Key Highlights
- Three full baths in the two‑family duplex
- Full walk‑out finished basement with a full bath and family room
- New roof on home and garage installed about three years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,933
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$938,660
$938.7K
Cap Rate 7%
$670,471
$670.5K
Cap Rate 9%
$521,478
$521.5K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$88.7K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$85.3K $44.44/SF
− OpEx
−$38.4K −$20.00/SF
NOI
$46.9K $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 Rate 5%
$938,660
Cap Rate 7%
$670,471
Cap Rate 9%
$521,478
Alternative Uses
Best Use
Apartment 5plus
$670.5K
$586.7K – $782.2K
NOI $46,933 @ 7.0% cap · market cap 3.61%
Second Best
Multifamily LT 5
$454.0K
$397.2K – $529.7K
NOI $31,779 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,081 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
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Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - Two-family duplex with three full baths, a full walk-out finished basement, and an oversized 2-car garage.
Where is this duplex located?
The property is located at 616 College Place College Point, NY.
What is the asking price?
The asking price for this property is $1,299,998.
What are key features of this property?
This property features: Three full baths in the two‑family duplex; Full walk‑out finished basement with a full bath and family room; New roof on home and garage installed about three years ago
