Semi-Attached Corner Two-Story
For Sale
$880,000
62-68 60th Avenue, Queens, NY 11378
Residential, Duplex, Queens, NY
Property Size1,848 SF
Lot Size0.03 Acres
Price / SF$476.19
Days on Market168
Property Features for 62-68 60th Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1
Parking features
Garage
Patio and Porch features
Porch
Interior features
Laundry Area, Porch, Stove
Basement
Finished
Subdivision
Maspeth
Standard status
Active
Size
1,848 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6819
Building Details
Year built
1935
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Brooklyn Real Property, Inc
(718) 272-8988
Listed By:
Jean Paul Ho · License #JPH8888
(718) 875-8899
Added: Mar 18
Changed: Aug 30
Last Checked: Sep 1 at 1:06PM
MLS# 499798
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
Semi-attached brick one-family home located on an irregular corner lot. The property includes a spacious layout with bedrooms, a formal dining room, and an eat-in kitchen, along with an updated modern kitchen and a full bath. Interior features include wood floors and abundant windows and closets. A finished, high-ceiling basement offers a separate entrance and includes a laundry room that can be finished for accessory use.
An additional top-floor level is included, along with additional attic and second-floor finished space with windows and unobstructed views of the Manhattan skyline. The configuration also offers the possibility of conversion to a two-family or three-family layout, subject to applicable requirements.
A detached two-car brick garage is part of the offering, along with an outdoor space on the oversized corner lot. Parking is supported by the detached garage and the site’s corner-lot configuration. The home is being sold as-is, and all showings require an appointment.
An additional top-floor level is included, along with additional attic and second-floor finished space with windows and unobstructed views of the Manhattan skyline. The configuration also offers the possibility of conversion to a two-family or three-family layout, subject to applicable requirements.
A detached two-car brick garage is part of the offering, along with an outdoor space on the oversized corner lot. Parking is supported by the detached garage and the site’s corner-lot configuration. The home is being sold as-is, and all showings require an appointment.
Key Highlights
- Semi‑attached brick 1‑family home built in 1935 on an irregular corner lot
- Approx. 22' x 42' building (1,848 SF) with 4 bedrooms and 2 bathrooms
- Updated modern kitchen and full bath, with wood floors and abundant windows/closets
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
$45,173
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
5.13%
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%
$903,460
$903.5K
Cap Rate 7%
$645,329
$645.3K
Cap Rate 9%
$501,922
$501.9K
Market Conditions
NOI Build-Up for 1,848 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
$85.4K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$82.1K $44.44/SF
− OpEx
−$37.0K −$20.00/SF
NOI
$45.2K $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%
$903,460
Cap Rate 7%
$645,329
Cap Rate 9%
$501,922
Alternative Uses
Best Use
Apartment 5plus
$645.3K
$564.7K – $752.9K
NOI $45,173 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,366 @ 7.0% cap · market cap 10.84%
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
1,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Semi-attached single-family home on an irregular corner lot with a finished basement and additional top-floor level.
Where is this single family property located?
The property is located at 62-68 60th Avenue Queens, NY.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Semi‑attached brick 1‑family home built in 1935 on an irregular corner lot; Approx. 22' x 42' building (1,848 SF) with 4 bedrooms and 2 bathrooms; Updated modern kitchen and full bath, with wood floors and abundant windows/closets
