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 Market81
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
(718) 359-3964
Source:
Serhant
Added: Jun 25
Changed: Sep 10
Last Checked: Sep 12 at 9:04AM
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
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 = 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
$46,933
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
3.61%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
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
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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
