2-Family Brick Tudor
For Sale
$2,198,000
68-41 Dartmouth Street, Forest Hills, NY 11375
MULTI_FAMILY - Tudor - Forest Hills, NY
Property Size4,000 SF
Lot Size0.06 Acres
Price / SF$549.50
Days on Market54
Property Features for 68-41 Dartmouth Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 1, Basement, Bathroom 1, Bathroom 2, Bedroom 4, Bathroom 3, Dining Room
Parking
4
Parking features
Garage
Interior features
Formal Dining, High Ceilings, Storage
Exterior features
Garden
Fireplace
1
Basement
Finished, Full
Elementary school
Ps 144 Col Jeromus Remsen
Middle school
Jhs 190 Russell Sage
High school
Metropolitan Expeditionary Lrning
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Standard status
Active
APN
03204-0043
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15675
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Architectural style
Tudor
Additional Structures
Storage
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Carolina Grunner
(718) 316-0422
Added: Jun 18
Changed: Aug 3
Last Checked: Aug 10 at 6:06AM
MLS# 1015524
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 2-family Forest Hills Tudor home is built with brick construction and offers multiple living options across three finished levels plus a basement. Set on a 25x100 lot, the building dimensions are 20.5x68, providing approximately 4,000 square feet of total livable area. The first-floor apartment has two bedrooms, one full bathroom, an eat-in kitchen, a spacious formal dining room, a living room with a fireplace, and a sunroom. The second-floor apartment was renovated in 2019 and also features two bedrooms, one full bathroom, an eat-in kitchen, a formal dining room, a living room with a fireplace, and a sunroom. A finished attic provides additional flexible space with one full bathroom, suitable for recreation, a home studio, or extended living. The basement includes one full bathroom, a private egress, laundry/utility room, and indoor access to the 2-car attached garage.
The home sits on a quiet, tree-lined street and is about 0.4 miles to Continental/71st Ave E/F/R and LIRR, supporting an easy commute to Manhattan. The property is also noted as being just half a block from Forest Hills Gardens, with access to nearby amenities including West Side Tennis Club and Forest Hills Stadium. Cable is available, with public water and public sewer.
Interior highlights include formal dining space, high ceilings, hardwood flooring, and storage, along with baseboard heat and wall/window and window unit cooling.
The home sits on a quiet, tree-lined street and is about 0.4 miles to Continental/71st Ave E/F/R and LIRR, supporting an easy commute to Manhattan. The property is also noted as being just half a block from Forest Hills Gardens, with access to nearby amenities including West Side Tennis Club and Forest Hills Stadium. Cable is available, with public water and public sewer.
Interior highlights include formal dining space, high ceilings, hardwood flooring, and storage, along with baseboard heat and wall/window and window unit cooling.
Key Highlights
- 25x100 lot with building dimensions of 20.5x68
- Approximately 4,000 sq ft total livable area across first, second, and finished attic
- Second‑floor apartment renovated in 2019
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
$97,778
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
4.45%
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%
$1,955,560
$2.0M
Cap Rate 7%
$1,396,829
$1.4M
Cap Rate 9%
$1,086,422
$1.1M
Market Conditions
NOI Build-Up for 4,000 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
$184.8K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$177.8K $44.44/SF
− OpEx
−$80.0K −$20.00/SF
NOI
$97.8K $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%
$1,955,560
Cap Rate 7%
$1,396,829
Cap Rate 9%
$1,086,422
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,778 @ 7.0% cap · market cap 4.45%
Second Best
Multifamily LT 5
$945.8K
$827.6K – $1.10M
NOI $66,206 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,834
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
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 - Brick Tudor 2-family home with renovated second-floor unit, finished basement, finished attic, and a 2-car attached garage.
Where is this duplex located?
The property is located at 68-41 Dartmouth Street Forest Hills, NY.
What is the asking price?
The asking price for this property is $2,198,000.
What are key features of this property?
This property features: 25x100 lot with building dimensions of 20.5x68; Approximately 4,000 sq ft total livable area across first, second, and finished attic; Second‑floor apartment renovated in 2019
