Legal Two-Family Duplex
For Sale
$1,068,000
69-35 61st Road, Middle Village, NY 11379
Two separate legal residences with private outdoor areas, storage, and a dedicated driveway.
Property Size1,944 SF
Days on Market56
Property Features for 69-35 61st Road
General Information
Standard status
Active
Size
1,944 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,665
Amenities
private yard
deck
attic storage
Building Details
Building Size
1,944 SF
Year Built
1960
Buildings
1
Units
2
Listing Agency:
Coldwell Banker Phillips
(718) 757-5881
Listed By:
David J. Pastorini CBR
(718) 757-5881
Source:
Nextlevelrealestateny
Added: Jul 5
Changed: Aug 29
Last Checked: Aug 29 at 11:32AM
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 Coldwell Banker Phillips
Investment Insights
Based on property information with market context.
This legal two-family property combines an owner-oriented duplex with a separate apartment. The main residence spans two levels and includes three bedrooms, 1.5 baths, a living room, dining area, eat-in kitchen, deck access, and a fenced private yard. The additional legal apartment provides three rooms, including one bedroom, a living room, kitchen, full bath, and direct access to its own yard. The home is 20 feet wide and was built in 1960.
Practical features include a private driveway with space for 2 cars, ample closet storage, and a large pull-down attic. The property is near Juniper Valley Park and is served by the Q14, Q67, QM24, QM25, and QM34 bus routes. It is also near the M-Train’s first Manhattan-bound stop, houses of worship, and PS 128.
Practical features include a private driveway with space for 2 cars, ample closet storage, and a large pull-down attic. The property is near Juniper Valley Park and is served by the Q14, Q67, QM24, QM25, and QM34 bus routes. It is also near the M-Train’s first Manhattan-bound stop, houses of worship, and PS 128.
Key Highlights
- Legal two‑family configuration with a three‑bedroom duplex and separate one‑bedroom apartment
- Main residence offers 3 bedrooms, 1.5 baths, deck access, and a fenced private yard
- Separate legal apartment includes 3 rooms, 1 bedroom, full bath, kitchen, and private yard access
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
$47,520
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%
$950,400
$950.4K
Cap Rate 7%
$678,857
$678.9K
Cap Rate 9%
$528,000
$528.0K
Market Conditions
NOI Build-Up for 1,944 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
$89.8K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$86.4K $44.44/SF
− OpEx
−$38.9K −$20.00/SF
NOI
$47.5K $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%
$950,400
Cap Rate 7%
$678,857
Cap Rate 9%
$528,000
Alternative Uses
Best Use
Apartment 5plus
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 4.45%
Second Best
Multifamily LT 5
$459.7K
$402.2K – $536.3K
NOI $32,176 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,320 @ 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
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,426
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
Median Home Value
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 separate legal residences with private outdoor areas, storage, and a dedicated driveway.
Where is this duplex located?
The property is located at 69-35 61st Road Middle Village, NY.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: Legal two‑family configuration with a three‑bedroom duplex and separate one‑bedroom apartment; Main residence offers 3 bedrooms, 1.5 baths, deck access, and a fenced private yard; Separate legal apartment includes 3 rooms, 1 bedroom, full bath, kitchen, and private yard access
