Two-Story Duplex with Basement
For Sale
$1,299,000
Pending
6172 70th Street, Middle Village, NY 11379
A two-story duplex with full basement and garage, updated with a new boiler and hot water heater.
Property Size2,070 SF
Lot Size0.05 Acres
Days on Market155
Property Features for 6172 70th Street
General Information
Standard status
Pending
Size
2,070 SF
Lot size
0.05 Acres
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,394
Amenities
full basement with garage
private backyard
Building Details
Building Size
2,070 SF
Year Built
1960
Stories
2
Listing Agency:
Crifasi Real Estate Inc
Listed By:
Andrew LaSala · License #40LA1131508
(718) 894-8700
Source:
Serhant
Added: Apr 18
Changed: Sep 6
Last Checked: Sep 18 at 10:59AM
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 Crifasi Real Estate Inc
Investment Insights
Based on property information with market context.
This two-story duplex offers separate units with bright living spaces, kitchens, and generous bedrooms. The property includes a full basement with a garage and a private backyard. Built in 1960, the home has recent updates including a new boiler and hot water heater. The duplex is vacant on closing, providing flexibility for either an owner-occupant or an investor.
Conveniently located near transportation, the property is about one block from the M train in the Middle Village station area, supporting easy access for residents and tenants.
The duplex sits on a 23x100 lot and includes a basement-level garage, while the exterior backyard provides an additional private outdoor space for day-to-day use.
Conveniently located near transportation, the property is about one block from the M train in the Middle Village station area, supporting easy access for residents and tenants.
The duplex sits on a 23x100 lot and includes a basement-level garage, while the exterior backyard provides an additional private outdoor space for day-to-day use.
Key Highlights
- 2,070 sq ft two‑story duplex built in 1960
- Full basement with a garage plus private backyard
- Recent updates include a new boiler and hot water heater
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
$50,600
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
3.90%
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%
$1,012,000
$1.0M
Cap Rate 7%
$722,857
$722.9K
Cap Rate 9%
$562,222
$562.2K
Market Conditions
NOI Build-Up for 2,070 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
$95.6K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$92.0K $44.44/SF
− OpEx
−$41.4K −$20.00/SF
NOI
$50.6K $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%
$1,012,000
Cap Rate 7%
$722,857
Cap Rate 9%
$562,222
Alternative Uses
Best Use
Apartment 5plus
$722.9K
$632.5K – $843.3K
NOI $50,600 @ 7.0% cap · market cap 3.90%
Second Best
Multifamily LT 5
$489.5K
$428.3K – $571.0K
NOI $34,262 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,822 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - A two-story duplex with full basement and garage, updated with a new boiler and hot water heater.
Where is this duplex located?
The property is located at 6172 70th Street Middle Village, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 2,070 sq ft two‑story duplex built in 1960; Full basement with a garage plus private backyard; Recent updates include a new boiler and hot water heater
