Brick Duplex With Finished
For Sale
$1,198,000
68-14 60th Street, Ridgewood, NY 11385
Residential Income, Ridgewood, NY
Property Size2,400 SF
Lot Size0.04 Acres
Price / SF$499.17
Days on Market9
Property Features for 68-14 60th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Basement
Parking features
On Street
Basement
Finished, Walk-Out Access
Elementary school
Ps 88 Seneca
Middle school
Joseph F Quinn Intermediate School 77
High school
Grover Cleveland High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
Refer to Google Maps.
Standard status
Active
APN
03504-0032
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8024
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1913
Number of units
2
Building materials
Brick
Listing Agency:
Douglas Elliman Real Estate
(516) 746-0440
Listed By:
James Y. Chung · License #10301214776
(917) 727-5652
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 11 at 3:06AM
MLS# 1046949
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 two-family brick duplex, built in 1913, contains approximately 2,400 square feet of living space on a 20-by-90-foot lot. The property is arranged as two railroad-style apartments with generously proportioned rooms and natural light. A full finished basement with its own entrance adds usable space beyond the apartments.
The home is served by public water and public sewer, with natural gas heat and wall or window air-conditioning units. On-street parking is available. The property is located in Ridgewood, with nearby restaurants, cafes, shops, parks, and public transportation connecting the surrounding Queens and Brooklyn neighborhoods.
The home is served by public water and public sewer, with natural gas heat and wall or window air-conditioning units. On-street parking is available. The property is located in Ridgewood, with nearby restaurants, cafes, shops, parks, and public transportation connecting the surrounding Queens and Brooklyn neighborhoods.
Key Highlights
- Two‑family brick duplex built in 1913
- Approximately 2,400 square feet of living space
- Two railroad‑style apartments with generously sized rooms
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
$58,667
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
4.90%
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%
$1,173,340
$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
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
$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 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%
$1,173,340
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 4.90%
Second Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,852 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,162
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two railroad-style apartments plus a separately entered finished basement create a flexible residential income property.
Where is this duplex located?
The property is located at 68-14 60th Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: Two‑family brick duplex built in 1913; Approximately 2,400 square feet of living space; Two railroad‑style apartments with generously sized rooms
