Renovated Two-Family
For Sale
$990,000
Pending
6508 Cooper Avenue, Glendale, NY 11385
Residential Income, Glendale, NY
Property Size1,880 SF
Lot Size0.04 Acres
Days on Market143
Property Features for 6508 Cooper Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Interior features
First Floor Bedroom, Entrance Foyer, High Ceilings
Basement
Unfinished
Standard status
Pending
APN
03722-0004
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6960
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Steam
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
backyard
high ceilings
original embossed decorative ceilings
Building Details
Year built
1920
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Voro LLC
(877) 943-8676
Listed By:
Elisabetta Caceda · License #10401323305
(917) 584-5982
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 13 at 11:06AM
MLS# 989707
Copyright © 2026 OneKey MLS. 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.
Renovated in 2026, this two-family duplex contains approximately 1,880 square feet of living space in two matching layouts, each with 2 bedrooms and 1 bathroom. The units feature refreshed kitchens, modern bathrooms, new flooring, high ceilings, and select original embossed decorative ceilings. Separate utilities serve each residence. A new Navien tankless combi boiler provides heat and hot water, while the unfinished basement adds storage space and room for future work. The property also includes a backyard combining pavers with green space.
The home occupies a 20 x 94.58 lot with R5B zoning and vinyl siding. Public water and public sewer serve the property. Access is convenient to the Jackie Robinson Parkway, Woodhaven Boulevard, Myrtle Avenue, Atlas Park, and Forest Park. Q54, Q29, and Q47 bus service is nearby, with the M train accessible by car.
The home occupies a 20 x 94.58 lot with R5B zoning and vinyl siding. Public water and public sewer serve the property. Access is convenient to the Jackie Robinson Parkway, Woodhaven Boulevard, Myrtle Avenue, Atlas Park, and Forest Park. Q54, Q29, and Q47 bus service is nearby, with the M train accessible by car.
Key Highlights
- Renovated in 2026 with two 2‑bedroom, 1‑bathroom units
- Approximately 1,880 square feet on a 20 x 94.58 lot
- R5B zoning with separate utilities for each unit
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
$45,956
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
4.64%
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%
$919,120
$919.1K
Cap Rate 7%
$656,514
$656.5K
Cap Rate 9%
$510,622
$510.6K
Market Conditions
NOI Build-Up for 1,880 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
$86.9K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$83.6K $44.44/SF
− OpEx
−$37.6K −$20.00/SF
NOI
$46.0K $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%
$919,120
Cap Rate 7%
$656,514
Cap Rate 9%
$510,622
Alternative Uses
Best Use
Apartment 5plus
$656.5K
$574.5K – $765.9K
NOI $45,956 @ 7.0% cap · market cap 4.64%
Second Best
Multifamily LT 5
$444.5K
$389.0K – $518.6K
NOI $31,117 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,017 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer separate utilities, private outdoor space, and an unfinished basement within an established Queens setting.
Where is this duplex located?
The property is located at 6508 Cooper Avenue Glendale, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Renovated in 2026 with two 2‑bedroom, 1‑bathroom units; Approximately 1,880 square feet on a 20 x 94.58 lot; R5B zoning with separate utilities for each unit
