Two-Unit Duplex
New
For Sale
$1,499,000
6722 Burns Street, Forest Hills, NY 11375
Residential Income, Forest Hills, NY
Property Size2,103 SF
Lot Size0.06 Acres
Price / SF$712.79
Days on Market2
Property Features for 6722 Burns Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Basement, Bathroom 3, Bedroom 4, Bathroom 4
Parking features
Garage, Driveway
Elementary school
Contact Agent
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Contact Agent
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
APN
03165-0017
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11377
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
private driveway
one car garage
on-site parking
private backyard
Building Details
Year built
1980
Number of units
2
Building materials
Brick
Listing Agency:
Royalux Realty LLC
(718) 666-6066
Listed By:
Jieying Huang
(347) 666-3688
Added: Sep 29
Changed: Sep 30
Last Checked: Sep 30 at 3:06PM
MLS# 1056374
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.
This legal two-family brick property contains approximately 2,103 square feet across three above-grade levels. The second and third floors form a duplex with three bedrooms and two and a half bathrooms; a studio apartment with its own entrance occupies the first floor. The high-ceiling basement has a separate entrance. The property also includes a private driveway, a one-car garage, additional on-site parking, and a backyard. It was built in 1980 and is to be delivered vacant.
The 25-by-100-foot lot is approximately 0.0574 acres. The 67th Avenue M/R subway station is about 0.3 miles away, and the Forest Hills-71st Avenue E/F/M/R station and Forest Hills LIRR station provide additional transit options. Express service to Midtown Manhattan is available in as little as 15 minutes. Nearby destinations include Trader Joe's, BJ's, Target, HomeGoods, supermarkets, restaurants, parks, and shopping and dining along Austin Street, 71st Avenue, and Queens Boulevard.
The 25-by-100-foot lot is approximately 0.0574 acres. The 67th Avenue M/R subway station is about 0.3 miles away, and the Forest Hills-71st Avenue E/F/M/R station and Forest Hills LIRR station provide additional transit options. Express service to Midtown Manhattan is available in as little as 15 minutes. Nearby destinations include Trader Joe's, BJ's, Target, HomeGoods, supermarkets, restaurants, parks, and shopping and dining along Austin Street, 71st Avenue, and Queens Boulevard.
Key Highlights
- Legal two‑family brick property with a three‑bedroom duplex and separate‑entry studio
- Approximately 2,103 square feet across three above‑grade levels
- High‑ceiling basement has a separate entrance
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
$51,407
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
3.43%
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%
$1,028,140
$1.0M
Cap Rate 7%
$734,386
$734.4K
Cap Rate 9%
$571,189
$571.2K
Market Conditions
NOI Build-Up for 2,103 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
$97.2K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$93.5K $44.44/SF
− OpEx
−$42.1K −$20.00/SF
NOI
$51.4K $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%
$1,028,140
Cap Rate 7%
$734,386
Cap Rate 9%
$571,189
Alternative Uses
Best Use
Apartment 5plus
$734.4K
$642.6K – $856.8K
NOI $51,407 @ 7.0% cap · market cap 3.43%
Second Best
Multifamily LT 5
$497.3K
$435.1K – $580.1K
NOI $34,808 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,525 @ 7.0% cap · market cap 7.24%
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
Location Intelligence
Trade Area within ½ mile
4,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
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 - A three-bedroom, two-level residence sits above a separate-entry studio, with basement access and private outdoor space.
Where is this duplex located?
The property is located at 6722 Burns Street Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Legal two‑family brick property with a three‑bedroom duplex and separate‑entry studio; Approximately 2,103 square feet across three above‑grade levels; High‑ceiling basement has a separate entrance
