Renovation-Ready Duplex
For Sale
$1,499,949
6912 Cloverdale Boulevard, Oakland Gardens, NY 11364
Legal two-family property with six bedrooms, a driveway, and outdoor space for customization.
Property Size2,340 SF
Lot Size0.09 Acres
Price / SF$641
Days on Market187
Property Features for 6912 Cloverdale Boulevard
General Information
Standard status
Active
Size
2,340 SF
Lot size
0.09 Acres
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
requires renovations and updates
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,617
Building Details
Building Size
2,340 SF
Year Built
1950
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
Listed By:
HakBin Ahn CBR GRI
Source:
Luxuryhomeny
Added: Mar 11
Changed: Sep 12
Last Checked: Sep 12 at 8:48AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This legal two-family residence offers a six-bedroom, 2.5-bathroom configuration within a 2,340-square-foot structure built in 1950. The property remains in its original condition and requires renovation, providing a flexible starting point for buyers planning updates. A driveway and private outdoor area add practical utility to the 40-by-100-foot lot.
The home is located in Oakland Gardens, Queens, within School District 26 and zoned for PS 213, JHS 74, and Benjamin N. Cardozo High School. Alley Pond Park and the Vanderbilt Motor Parkway provide nearby recreational destinations, while Bell Boulevard and Key Food serve everyday dining and shopping needs. Express bus service is available via the QM5, QM8, and QM35 routes, including connections to Manhattan.
The two-family layout and bedroom count support a range of owner-occupant and multigenerational living arrangements, subject to renovation plans and applicable requirements.
The home is located in Oakland Gardens, Queens, within School District 26 and zoned for PS 213, JHS 74, and Benjamin N. Cardozo High School. Alley Pond Park and the Vanderbilt Motor Parkway provide nearby recreational destinations, while Bell Boulevard and Key Food serve everyday dining and shopping needs. Express bus service is available via the QM5, QM8, and QM35 routes, including connections to Manhattan.
The two-family layout and bedroom count support a range of owner-occupant and multigenerational living arrangements, subject to renovation plans and applicable requirements.
Key Highlights
- Legal two‑family residence with 6 bedrooms and 2.5 bathrooms
- 2,340‑square‑foot structure built in 1950
- 40' x 100' lot with a driveway and private outdoor area
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
$57,200
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
3.81%
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%
$1,144,000
$1.1M
Cap Rate 7%
$817,143
$817.1K
Cap Rate 9%
$635,556
$635.6K
Market Conditions
NOI Build-Up for 2,340 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
$108.1K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.0K $44.44/SF
− OpEx
−$46.8K −$20.00/SF
NOI
$57.2K $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%
$1,144,000
Cap Rate 7%
$817,143
Cap Rate 9%
$635,556
Alternative Uses
Best Use
Apartment 5plus
$817.1K
$715.0K – $953.3K
NOI $57,200 @ 7.0% cap · market cap 3.81%
Second Best
Multifamily LT 5
$553.3K
$484.1K – $645.5K
NOI $38,731 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,755 @ 7.0% cap · market cap 8.05%
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
753
Businesses Nearby
Explore this area
Business Placement
Demographics for 11364, NY
37,032
Population
14,527
Households
2.5
Avg Household Size
45
Median Age
49%
College-Educated
86%
High-School Grad
2.5 sq mi
ZIP Area
14,813
Density / Sq Mi
$101,222
Median Household Income
$55,295
Median Earnings
$2,330
Median Rent
$770,100
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 - Legal two-family property with six bedrooms, a driveway, and outdoor space for customization.
Where is this duplex located?
The property is located at 6912 Cloverdale Boulevard Oakland Gardens, NY.
What is the asking price?
The asking price for this property is $1,499,949.
What are key features of this property?
This property features: Legal two‑family residence with 6 bedrooms and 2.5 bathrooms; 2,340‑square‑foot structure built in 1950; 40' x 100' lot with a driveway and private outdoor area
