Two-Family Duplex with
For Sale
$985,000
64-41 Wetherole Street, Rego Park, NY 11374
Two-level residential income property with a basement, garage parking, and separate living arrangements.
Property Size1,544 SF
Price / SF$637.95
Days on Market345
Property Features for 64-41 Wetherole Street
General Information
Standard status
Active
Size
1,544 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$8,500
Building Details
Building Size
1,544 SF
Year Built
1925
Listing Agency:
Coldwell Banker American Homes
(516) 897-2700
Listed By:
Mary C. Valenti · License #40VA0924202
Source:
Cbwarburg
Added: Aug 29, 2025
Changed: Aug 5
Last Checked: Aug 8 at 9:48AM
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 two-family duplex was built in 1925 and is being offered in its current condition, with some updating needed. The first residence includes two bedrooms, a full bathroom, a living and dining combination, an eat-in kitchen, and a front porch. The second residence also provides two bedrooms and a full bathroom, along with a living room.
A full basement adds a half bathroom and direct access to the two-car garage. The property is located on Wetherole Street in Rego Park, with schools, shops, and transportation services identified in the surrounding area. Its two-level configuration and supplemental lower-level space support a residential income property layout.
A full basement adds a half bathroom and direct access to the two-car garage. The property is located on Wetherole Street in Rego Park, with schools, shops, and transportation services identified in the surrounding area. Its two-level configuration and supplemental lower-level space support a residential income property layout.
Key Highlights
- Two‑family duplex configuration
- 1,544 SF property size
- Two bedrooms and one full bath in each residence
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
$37,742
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
3.83%
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%
$754,840
$754.8K
Cap Rate 7%
$539,171
$539.2K
Cap Rate 9%
$419,356
$419.4K
Market Conditions
NOI Build-Up for 1,544 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
$71.3K $46.20/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$68.6K $44.44/SF
− OpEx
−$30.9K −$20.00/SF
NOI
$37.7K $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%
$754,840
Cap Rate 7%
$539,171
Cap Rate 9%
$419,356
Alternative Uses
Best Use
Apartment 5plus
$539.2K
$471.8K – $629.0K
NOI $37,742 @ 7.0% cap · market cap 3.83%
Second Best
Multifamily LT 5
$365.1K
$319.5K – $425.9K
NOI $25,556 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.14M
$996.0K – $1.33M
NOI $79,678 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
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 - Two-level residential income property with a basement, garage parking, and separate living arrangements.
Where is this duplex located?
The property is located at 64-41 Wetherole Street Rego Park, NY.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Two‑family duplex configuration; 1,544 SF property size; Two bedrooms and one full bath in each residence
