Waterfront-View
For Sale
$899,000
6507 Bayfield Ave, Arverne, NY 11692
A finished basement adds usable interior space to this two-family residence.
Property Size2,400 SF
Price / SF$374.58
Days on Market8
Property Features for 6507 Bayfield Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,598
Listing Agency:
NY Homes Realty Group LLC
(917) 318-5180
Listed By:
Zain Javed
(929) 391-9163
Source:
Exprealty
Added: Oct 29
Changed: Nov 4
Last Checked: Nov 4 at 2:40PM
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 NY Homes Realty Group LLC
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Investment Insights
Based on property information with market context.
Configured for two households, the duplex contains 6 bedrooms and 4 bathrooms. A finished basement provides additional interior area, and updated appliances are among the property’s improvements. Waterfront views are also part of the setting.
Key Highlights
- Two‑family duplex configuration
- 6 bedrooms and 4 bathrooms
- Finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,667
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,173,340
$1.2M
Cap Rate 7%
$838,100
$838.1K
Cap Rate 9%
$651,856
$651.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$110.9K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$106.7K $44.44/SF
− OpEx
−$48.0K −$20.00/SF
NOI
$58.7K $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 Rate 5%
$1,173,340
Cap Rate 7%
$838,100
Cap Rate 9%
$651,856
Alternative Uses
Best Use
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 6.53%
Second Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,852 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
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Business Placement
Demographics for 11692, NY
22,776
Population
8,475
Households
2.7
Avg Household Size
36
Median Age
27%
College-Educated
86%
High-School Grad
1.0 sq mi
ZIP Area
22,776
Density / Sq Mi
$49,507
Median Household Income
$39,737
Median Earnings
$1,274
Median Rent
$650,000
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 - A finished basement adds usable interior space to this two-family residence.
Where is this duplex located?
The property is located at 6507 Bayfield Ave Arverne, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑family duplex configuration; 6 bedrooms and 4 bathrooms; Finished basement
