Maspeth Two-Family Home with
For Sale
Contact for pricing
69-68 57th Dr, Maspeth, NY 11378
Semi-detached two-family residence with private driveway, detached 2-car garage, and separate basement entrance.
Property Size2,940 SF
Price / SF$469.39
Days on Market70
Property Features for 69-68 57th Dr
General Information
Standard status
Active
Size
2,940 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
LANDMARK INTERNATIONAL REAL ESTATE GROUP LLC
(718) 898-8300
Listed By:
Lucy Lu
Source:
Crexi
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 8 at 3:58PM
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 LANDMARK INTERNATIONAL REAL ESTATE GROUP LLC
Investment Insights
Based on property information with market context.
This semi-detached two-family home in Maspeth offers two separate residential units and a full finished basement with a separate rear exterior entrance. The property includes a spacious entry foyer that leads to a 3-bedroom apartment upstairs and a 2-bedroom apartment on the first floor. A family room and a half bath complete the basement interior. Outside, the home benefits from a private driveway and a detached 2-car garage. The current layout supports both everyday living and flexible use, with the garage currently serving as an outdoor recreation space.
The lot is described as 30 feet wide, allowing for a wide driveway and easy access to the detached garage. The home is positioned in a convenient but quiet Maspeth area near Grand Ave shopping and transportation.
For owner-occupants or investors, the configuration provides two distinct apartment units with separate hot water tanks for each apartment and efficient gas and steam heat. The basement’s separate exterior entrance can also be useful for managing access and daily operations. Overall, this is a practical residential income property offering parking, a detached garage, and a functional multi-level layout.
The lot is described as 30 feet wide, allowing for a wide driveway and easy access to the detached garage. The home is positioned in a convenient but quiet Maspeth area near Grand Ave shopping and transportation.
For owner-occupants or investors, the configuration provides two distinct apartment units with separate hot water tanks for each apartment and efficient gas and steam heat. The basement’s separate exterior entrance can also be useful for managing access and daily operations. Overall, this is a practical residential income property offering parking, a detached garage, and a functional multi-level layout.
Key Highlights
- 1930 semi‑detached two‑family home with a private driveway and detached 2‑car garage
- Full finished basement with a separate rear exterior entrance
- Separate apartments: 3‑bedroom unit upstairs and 2‑bedroom unit on the first floor
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
$71,867
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
5.21%
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%
$1,437,340
$1.4M
Cap Rate 7%
$1,026,671
$1.0M
Cap Rate 9%
$798,522
$798.5K
Market Conditions
NOI Build-Up for 2,940 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
$135.8K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$130.7K $44.44/SF
− OpEx
−$58.8K −$20.00/SF
NOI
$71.9K $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%
$1,437,340
Cap Rate 7%
$1,026,671
Cap Rate 9%
$798,522
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$898.3K – $1.20M
NOI $71,867 @ 7.0% cap · market cap 5.21%
Second Best
Multifamily LT 5
$695.2K
$608.3K – $811.0K
NOI $48,662 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,718 @ 7.0% cap · market cap 10.99%
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
2,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
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 - Semi-detached two-family residence with private driveway, detached 2-car garage, and separate basement entrance.
Where is this duplex located?
The property is located at 69-68 57th Dr Maspeth, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: 1930 semi‑detached two‑family home with a private driveway and detached 2‑car garage; Full finished basement with a separate rear exterior entrance; Separate apartments: 3‑bedroom unit upstairs and 2‑bedroom unit on the first floor
